Dubai Parkin revenue forecast cut as drivers shift to seasonal cards, developer parking grows
Dubai: Parkin has cut its 2026 public parking revenue forecast after revising its outlook for the rollout and utilisation of new parking spaces , with stronger demand for seasonal cards and developer parking expected to make up the shortfall. The Dubai-listed parking operator now expects its public parking business to generate Dh510…
Dubai-based Parkin has reduced its 2026 public parking revenue forecast to Dh510 million to Dh550 million due to a shift in demand among drivers. The operator now anticipates stronger demand for seasonal cards and developer parking to compensate for the shortfall, which is expected to make up the difference. Parkin's revised 2026 outlook follows the company's second-quarter revenue of Dh364.1 million, up 14% YoY, and EBITDA of Dh217.2 million, up 15% YoY.
The company's CEO, Eng. Mohamed Abdulla Al Ali, highlighted strong demand for seasonal cards and developer parking, attributing growth to these segments despite softer public parking demand. Despite the lowered revenue forecast, Parkin continues to expand its public parking network, having added 9,900 spaces in the first half of the year, and expects to add another 3,500 to 5,000 spaces by the end of 2026.
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