625.5 million dirhams in Parkin’s net profits in 2025
Dubai, February 25 / WAM / Parkin Company PJSC, the largest provider of public parking facilities and services in the Emirate of Dubai, recorded revenues of 389.4 million dirhams in the fourth quarter of 2025, a growth of 47% compared to the same period in 2024.
While the company’s profits before financing costs, taxes, depreciation and amortization amounted to 232.9 million dirhams, a similar increase, while maintaining a margin of 60%, while net profit increased to 183.6 million dirhams, an increase of 53%.
The company stated in its operational and financial results for the fourth quarter and the fiscal year ending on December 31, 2025, that over the full fiscal year, revenues rose to 1.326 billion dirhams, an increase of 43%, while net profit reached 625.5 million dirhams, an increase of 48% on an annual basis.
Engineer Mohammed Abdullah Al Ali, CEO of Parkin, said: “We concluded the year 2025 with a strong performance in the last quarter, in which we turned discipline in control into an increase in profits. As in previous periods, we continued to expand our operational footprint by adding public parking and developer parking to our portfolio, supported by Dubai’s position as a global destination for living, working and investing. Seasonal card sales reached record levels, as a result of customers’ awareness of the relative value offered by this product, while the total transactions maintained their value compared to the same period of the year. Last year, the usage rate declined as expected, reflecting the increase in the proportion of seasonal card users and the addition of new parking spaces.
He added: “We benefited from the implementation of flexible tariffs earlier in the year and in terms of parking monitoring, we continued to use a fleet of smart inspection vehicles supported by technology, while deploying field inspectors based on accurate data to enhance compliance across the network.
The total number of vehicle parking spaces in the company’s portfolio reached about 229 thousand parking spaces by the end of the fourth quarter of 2025, an increase of 11% on an annual basis, while the number of permits and seasonal subscriptions increased to 89.3 thousand cards, an increase of 140%.
The total number of violations issued increased to about 810.2 thousand violations in the fourth quarter of 2025, an increase of 59%, while the total number of parking transactions reached 37 million transactions.
The company indicated that, subject to shareholder approval, the Board of Directors intends to recommend the distribution of cash dividends worth 343.7 million dirhams for the second half of 2025, with payment to be made in late April 2026.
Parkin provided its guidance for the year 2026, expecting public vehicle parking revenues to grow to between 560 and 610 million dirhams, fine revenues to between 420 and 460 million dirhams, and seasonal card revenues to between 260 and 280 million dirhams.
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