Dhs625.5 million net profit for Parkin in 2025

Parkin Company PJSC, the largest provider of paid public parking facilities and services in the Emirate of Dubai, recorded revenues of Dhs389.4 million in the fourth quarter of 2025, marking a 47 per cent increase compared to the same period in 2024.

The company’s earnings before financing costs, taxes, depreciation and amortisation (EBITDA) reached Dhs 232.9 million, reflecting similar growth, while maintaining a margin of 60 per cent. Net profit rose 53 per cent to Dhs 183.6 million.

In its operational and financial results for the fourth quarter and the financial year ended 31 December 2025, the company stated that on a full-year basis, revenues increased to Dhs1.326 billion, up 43 per cent year-on-year, while net profit reached Dhs 625.5 million, representing a 48 per cent annual increase.

Eng. Mohamed Abdullah Al Ali, Chief Executive Officer of Parkin, said: “We concluded 2025 with strong performance in the final quarter, converting disciplined enforcement into higher earnings. As in previous periods, we continued to expand our operational footprint by adding public parking spaces and developer-owned parking to our portfolio, supported by Dubai’s position as a global destination for living, working and investment. Seasonal card sales reached record levels as customers recognised the relative value offered by this product. Total transactions remained broadly stable compared to the same period last year, while utilisation declined as expected, reflecting the higher 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. On the enforcement front, we continued deploying our technology-enabled smart inspection fleet, supported by data-driven field inspector deployment to enhance compliance across the network.”

The total number of parking spaces in the company’s portfolio reached approximately 229,000 spaces by the end of the fourth quarter of 2025, an increase of 11 per cent year-on-year. The number of permits and seasonal subscriptions rose to 89.3 thousand cards, up 140 per cent.

Total violations issued increased to approximately 810.2 thousand in the fourth quarter of 2025, up 59 per cent, while total parking transactions reached 37 million.

The company noted that, subject to shareholder approval, the Board of Directors intends to recommend a cash dividend distribution of Dhs 343.7 million for the second half of 2025, with payment expected in late April 2026.

Parkin also provided its guidance for 2026, expecting public parking revenues to grow to between Dhs 560 million and Dhs 610 million, fine revenues to range between Dhs 420 million and Dhs 460 million, and seasonal card revenues to range between Dhs 260 million and Dhs 280 million.

WAM