Middle East Infrastructure

Dubai parking portfolio passes 268,000 spaces after a year of additions

By Staff Writer  |  15 August 2026

The operator added almost 57,000 spaces in twelve months, tripled its developer portfolio and reported second quarter revenue of AED 364.1 million, up 14 per cent.

Parkin Company PJSC published its results for the three months to 30 June 2026 on 14 August. Total revenue rose 14 per cent year on year to AED 364.1 million and net profit rose 12 per cent to AED 166.2 million. Earnings before interest, tax, depreciation and amortisation rose 15 per cent to AED 217.2 million from AED 189.3 million, at a margin of 60 per cent. The company attributed the growth to seasonal cards, developer parking and enforcement.

Parkin delivered a strong second quarter, with revenues up 14 percent to AED364.1 million, EBITDA up 15 percent to AED217.2 million and net profit up 12 percent to AED166.2 million. Growth was driven by our seasonal cards, developer parking and enforcement segments, offsetting softer public parking demand during the quarter.

Eng. Mohamed Abdulla Al Ali, Chief Executive of Parkin

The portfolio

The total portfolio rose 27 per cent to 268,300 spaces, from 211,500 in the second quarter of 2025. That is an addition of almost 57,000 spaces over twelve months. Public parking accounted for 203,200 spaces, up 14,500 or 8 per cent from 188,700, with Zone C contributing 9,900 of the new spaces and Zone D 4,500. In the first half of 2026 the company added 9,900 public spaces working with the Roads and Transport Authority, and 7,900 of those came in the second quarter alone, around half of them introduced in June.

The faster growing line is developer parking, where the book rose to 61,500 spaces from 19,600 a year earlier, more than tripling. The company attributed that to contracts signed and announced in the second half of 2025, with a further 2,400 spaces added in the second quarter. Multi storey spaces rose by around 400 to 3,700.

Public parking grew 8 per cent in a year. Developer parking grew from 19,600 spaces to 61,500. The growth is coming from private schemes handing operation across, not from new municipal supply.

Demand and pricing

Total parking transactions reached 34 million, up 2.6 per cent year on year, but the mix moved. Public parking transactions fell to 27.2 million from 29.2 million, while developer parking transactions rose 75 per cent to 6.6 million from 3.8 million. Multi storey transactions were unchanged at 0.2 million. Average public parking utilisation was 20.2 per cent, against 22.7 per cent in the second quarter of 2025 and 21.8 per cent in the first quarter of this year. Seasonal card sales rose 38 per cent to 97,500 from 70,900.

Following the variable parking tariff introduced in April 2025, the public portfolio is split into Standard and Premium. At the end of the quarter Standard accounted for 122,700 spaces, or 60 per cent, and Premium for 80,300 spaces, or 40 per cent.

What it means for the supply chain

The developer parking figure is the one worth reading twice. A tripling of that book in a year means a large number of privately built car parks have been brought under one operator, and each transfer sits on an agreement that allocates responsibility for maintenance, resurfacing, barrier and payment equipment, drainage and structural repair between the developer and the operator. Those are the boundaries that produce disputes three or four years in, once chloride ingress and deck waterproofing start to bite on structures built to a developer's own specification rather than to an operator's.

For anyone advising on a handover of that kind, the questions are familiar: what condition survey was taken at transfer, who carries latent defects in the deck slab, and whether the operator's maintenance obligation is drafted against a standard the original works were never designed to meet. Utilisation running at 20.2 per cent also matters, because a payment mechanism geared to throughput behaves differently from one geared to availability when demand softens.

The company added spaces in cooperation with the Roads and Transport Authority in both quarters of the half, and says the second quarter additions were weighted to June. Whether that pace holds through the second half will decide how much new civil work, rather than transferred stock, sits behind the next portfolio figure.