Parkin Company, Dubai’s largest provider of paid public parking facilities and services, reported strong operational and financial results for the third quarter ended 30 September 2025, marking another period of sustained growth and expansion across its portfolio.
Key Highlights (Q3 2025 vs. Q3 2024)
• Total revenues: Dhs343.3m (up 43 per cent)
• EBITDA: Dhs199.8m (up 36 per cent) with a 58 per cent margin
• Net profit: Dhs157m (up 50 per cent)
• Net addition: approximately 11,700 new parking spaces (up 6 per cent)
• Parking transactions: 34.1 million (up 0.4 per cent)
• Average public parking utilisation: 21.3 per cent (down 5.1 percentage points)
• Seasonal card sales: 81,000 (up 126 per cent)
• Full-year 2025 revenue guidance revised upward
Eng. Mohamed Abdulla Al Ali, CEO of Parkin, said: “We continued to execute our strategy with discipline and focus in Q3, delivering another strong set of financial and operational results. Total revenues rose 43 per cent to Dhs343.3m, driven by the successful implementation of the variable parking tariff, expansion of our operational footprint, sustained transaction volumes, record seasonal card sales and robust enforcement proceeds. This strong performance translated into a 36 per cent increase in EBITDA to Dhs199.8 million and a 50 per cent rise in net income to Dhs157m.
“Beyond the financial results, we advanced key strategic initiatives. During the quarter, we signed several contracts to grow our developer parking portfolio and partnered with CAFU to launch the region’s first on-demand fuel and car wash service across our parking network, a milestone that underscores our commitment to innovation and customer convenience.
“We expect these initiatives to contribute to our revenue growth in the coming quarters, reinforcing Parkin’s position as a leader in smart mobility solutions.”
Operational Performance
Parkin ended Q3 2025 with 219,000 active parking spaces, a 6 per cent rise from the previous year, supported by strong additions to its public and multi-storey portfolio. Public parking increased by 7 per cent to 192,100 spaces, while multi-storey capacity rose by 14 per cent following the reopening of Al Rigga MSCP.
Parking transactions totalled 34.1 million, driven by Dubai’s robust economic activity and rising population. Seasonal card purchases surged 126 per cent to 81,000, reflecting customer preference for cost-effective long-term options following the introduction of the variable tariff.
The company also issued 682,000 enforcement notices during the quarter, up 63 per cent year-on-year, supported by a growing smart inspection fleet and data-driven deployment strategies.
Financial Performance
Revenues reached a record Dhs343.3m, a 43 per cent increase compared to Q3 2024, led by growth in public parking, seasonal cards, and enforcement income. Public parking revenue rose 30 per cent to Dhs135m, while seasonal card and permit revenue climbed 57 per cent to Dhs59.9m. Enforcement revenue grew 59 per cent to Dhs103m.
EBITDA stood at Dhs199.8m, up 36 per cent, while net profit reached Dhs157m, a 50 per cent increase from the previous year. The company’s free cash flow to equity totalled Dhs433.4m, supported by a 99 per cent cash conversion rate.
Parkin’s net debt position was Dhs577.3m at the end of Q3 2025, with total available liquidity of Dhs654.8m, including an undrawn Dhs100m revolving credit facility.
With revenue guidance revised upward, Parkin remains on track for another record year, underpinned by strategic partnerships, technological enhancements, and continued portfolio expansion.
