Dubai's Parkin increases parking revenue despite impact of Iran war
Dubai's parking operator has reported an increase in revenue for the second quarter of 2026 despite a decrease in transactions. Parkin , set up in January 2024 to manage parking in the emirate, had total revenue of Dh364.1 million in the second quarter, an increase of 14 per cent compared with the same period in 2025. This was despite a drop in public parking transactions to 27.2 million compared…
Dubai's parking operator, Parkin, experienced a 14 percent increase in revenue during the second quarter of 2026, reaching Dh364.1 million. This growth occurred despite a decline in the number of transactions, which dropped to 27.2 million compared to 29.2 million in the same period last year. The reduction in transactions can be attributed to various factors, including the impact of geopolitical tensions, the ongoing popularity of seasonal parking cards, and a slight decrease in chargeable days.
The total number of parking spaces managed by Parkin grew by 27 percent to 268,300, with public parking spaces increasing by 8 percent to 203,200. Mohamed Abdulla Al Ali, Parkin's chief executive, stated that the company's strong performance was driven by its seasonal cards, developer parking, and enforcement segments, which helped offset the softer demand for public parking during the quarter.
Parkin has been actively expanding its parking portfolio. Over the past year, the company added nearly 57,000 spaces, bringing its total to 268,300. In the first half of 2026, Parkin, in collaboration with the Roads and Transport Authority (RTA), added 9,900 public parking spaces. Additionally, Parkin's developer parking portfolio more than tripled to 61,500 spaces through strategic partnerships with developers.
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