Dubai Parkin sees revenue outlook change as seasonal cards gain popularity
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 parking operator Parkin has revised its 2026 revenue outlook as seasonal parking cards gain popularity. The company now expects its public parking business to generate Dh510 million to Dh550 million in 2026, down from the previous forecast of Dh560 million to Dh610 million. This decrease is due to stronger demand for seasonal cards and developer parking, which is expected to make up the shortfall.
Parkin's second-quarter revenue reached Dh364.1 million, up 14% year-on-year, with net profit increasing 12% to Dh166.2 million. The company's CEO attributed the growth to the popularity of seasonal cards and developer parking, while noting that public parking demand remains softer. Despite the revised outlook, Parkin continues to expand its public parking network, adding 9,900 spaces in the first half of 2026 and anticipating another 3,500 to 5,000 spaces by the end of the year.
The company's fixed components from developer parking agreements will be recognized below EBITDA, impacting margin expansion.
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