Dubai — Dubai’s largest paid-parking operator Parkin Company reported a 50 per cent jump in net profit to Dhs157 million for the third quarter of 2025, supported by strong revenue growth, record seasonal card sales and continued expansion across its network.
Total revenue rose 43 per cent year-on-year to Dhs343.3 million, while EBITDA climbed 36 per cent to Dhs199.8 million, yielding a margin of 58 per cent. The company ended the quarter with 219,000 active parking spaces, up 6 per cent from a year earlier, and revised its full-year 2025 revenue guidance upward.
CEO Eng. Mohamed Abdulla Al Ali said the results reflected disciplined execution of Parkin’s growth strategy. “Revenues rose 43 per cent, driven by the variable tariff rollout, network expansion, record card sales and strong enforcement income,” he said, adding that partnerships such as the new CAFU on-demand fuel and wash service reinforced Parkin’s innovation focus.
Operational Performance
Public parking capacity grew 7 per cent to 192,100 spaces, while multi-storey capacity increased 14 per cent after the Al Rigga MSCP reopening. Total parking transactions reached 34.1 million, and seasonal card sales surged 126 per cent to 81,000. The company issued 682,000 enforcement notices, up 63 per cent year-on-year, aided by an expanded smart-inspection fleet.
Financial Highlights
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Revenue: Dhs343.3 m (+43%)
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EBITDA: Dhs199.8 m (+36%), 58% margin
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Net profit: Dhs157 m (+50%)
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Free cash flow to equity: Dhs433.4 m, 99% conversion
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Net debt: Dhs577.3 m vs liquidity of Dhs654.8 m (incl. Dhs100 m RCF)
Public-parking revenue rose 30 per cent to Dhs135 million; seasonal card and permit revenue grew 57 per cent to Dhs59.9 million; enforcement income jumped 59 per cent to Dhs103 million.
With liquidity exceeding Dhs650 million and continued demand across Dubai’s urban network, Parkin said it is on track for another record year. The company expects sustained growth from developer-parking contracts, digital-service launches, and wider adoption of smart-mobility initiatives through 2026.
