Parkin Posts Record Quarter as Revenue Rises 21% to Dh415.2 Million

Net profit rose 27% to Dh199.2 million, meaning the company kept almost 48 fils of every dirham of revenue as profit. The figures are in line with the company's growth from last year: Parkin reported third-quarter 2025 revenue of Dh343.3 million and net profit of Dh157.0 million, according to an earnings summary published by Quartr at the time.

The company manages 272,500 parking spaces, and 36 million transactions passed through its system during the quarter, up 6% on a year earlier.

The gap between 6% transaction growth and 21% revenue growth suggests most of the increase came from higher earnings per transaction rather than from more parking sessions, though the reported figures do not break revenue down by public parking, enforcement, developer and other segments. Dubai introduced variable tariffs in 2025 that charge more at peak hours and in busy areas, and has been extending paid zones across the city.

Al Bayan attributed the result to stronger demand for parking, a wider user base, the expansion of areas covered by paid parking and greater use of digital payment and management tools, all linked to population and economic growth in the emirate.

Parkin is one of a group of Dubai government-backed utilities and transport businesses floated on the Dubai Financial Market in recent years, alongside Dubai Taxi and Salik, and its results are watched as a gauge of traffic and economic activity in the city. Dubai Taxi on Monday reported a 26% rise in quarterly revenue but a 25% fall in net profit, citing weaker airport and tourism demand.

Parkin has not yet published an outlook update alongside the quarterly figures, and its full nine-month accounts will show whether the company is on track to beat the record revenue it set in 2025.