Parkin, Dubai’s largest provider of public parking facilities and services, announced strong results for the first quarter of 2026, supported by higher revenues, improved profitability, and continued expansion of its parking portfolio across the emirate.

For the period ending 31 March 2026, the company’s total revenue rose to AED 384.2 million, marking a 41% increase compared with the same period in 2025. Earnings before interest, taxes, depreciation, and amortization also increased to AED 231.3 million, up 31%, with a margin of around 60%.

Parkin recorded a net profit of AED 185.1 million during the first quarter, compared with AED 136.6 million in the same period last year, achieving year-on-year growth of 36%. This performance reflects the strength of the company’s business model and the continued demand for organized parking services in Dubai.

Parking Portfolio Expands to 258,000 Spaces

On the operational side, Parkin continued to grow its network during the first quarter. The total number of parking spaces reached 258,000 by the end of Q1 2026, compared with 209,000 spaces in Q1 2025, representing growth of 23%.

This increase included the addition of 49,000 new parking spaces to the company’s portfolio. Growth was mainly driven by the expansion of developer-owned parking areas, along with additional public parking spaces and multi-storey car parks.

Public parking spaces reached 195,200, while developer parking areas recorded significant growth, rising to 59,100 spaces. This expansion strengthens Parkin’s presence in managing parking solutions across key areas of Dubai.

Strong Growth in Seasonal Cards

Seasonal cards delivered a notable performance during the quarter. The number of seasonal permits and subscriptions issued increased to 100,600 cards, up 129% compared with the same period last year.

This growth reflects rising demand from regular parking users for subscription-based solutions, especially with the continued implementation of flexible parking tariffs and the availability of seasonal options that offer value for a wide range of customers.

The weighted average tariff for public parking also increased to AED 3.02 per hour, compared with AED 2.00 in the first quarter of 2025, following the introduction of flexible tariffs in Dubai last year.

Technology Supports Monitoring and Compliance

Parkin continued to strengthen its monitoring operations by using smart inspection vehicles and data-supported field teams, helping improve compliance across its parking network.

The company said that technology-driven monitoring contributes to greater operational efficiency and supports better enforcement, particularly in high-traffic areas across Dubai.

Positive Start to 2026

Engineer Mohamed Al Ali, Chief Executive Officer of Parkin, said the company began 2026 with strong results, achieving AED 384 million in revenue and AED 185 million in net profit. He noted that the performance was supported by the expansion of the company’s operational portfolio, strong growth in seasonal card sales, and the continued development of smart monitoring tools.

Parkin’s first-quarter results highlight its ability to maintain balanced growth while benefiting from the expansion of Dubai’s parking network and the growing demand for organized parking solutions. The company continues to play an important role in supporting urban mobility and smart services across the emirate.