Dubai drivers get more paid parking spaces in key areas

Dubai: Dubai’s paid parking network added about 49,000 spaces in the first quarter of 2026, taking Parkin’s total portfolio to 258,000 spaces across public, developer and multi-storey parking facilities.

The increase was announced in Parkin Company’s quarterly results for the three months ended March 31, 2026. The company said its parking portfolio grew 23% from 209,000 spaces a year earlier, with the biggest increase coming from developer parking.

Public parking spaces increased by 8,100 to 195,200 in the first quarter. Zone C, which covers on-street parking, added 4,900 spaces, while Zone D, which covers off-street parking, added 3,200 spaces.

The larger increase came from developer parking, where spaces rose from 18,700 in Q1 2025 to 59,100 in Q1 2026. Parkin said this was the result of contracts signed and announced mainly in the second half of last year. Between the fourth quarter of 2025 and the first quarter of 2026 alone, the company added 26,900 developer parking spaces.

Multi-storey parking spaces also increased to 3,700. The rise was helped by the reopening of the refurbished Al Rigga multi-storey car park in July 2025, which restored access to 440 spaces with barrierless and ticketless access technology.

“I am pleased to report that we began 2026 on a strong footing, delivering total revenue of Dh384 million, a 41% increase on the same period last year, alongside a 36% increase in net profit to a record Dh185 million," said Eng. Mohamed Abdulla Al Ali, CEO of Parkin. "During the quarter, we continued to expand our operational footprint, adding both public and developer parking spaces to our portfolio, while seasonal card sales reached a record 100.6k, a 129% year-on-year increase,” he said.

Parkin also reported a record 100,600 seasonal card sales during the quarter, up 129% from 44,000 a year earlier.

The increase points to a clear change among frequent drivers. More motorists are choosing seasonal cards instead of paying each time they park, after Dubai introduced variable parking tariffs in April 2025.

Parkin said customers were taking advantage of the price gap between variable daily tariffs and unchanged seasonal card rates. The company described seasonal cards as a strong value proposition for frequent customers.

The weighted average hourly tariff for public parking rose 51% to Dh3.02 during the quarter, compared with Dh2.00 a year earlier. Public parking revenue increased 15% to Dh130.3 million, supported by the higher average tariff and a larger public parking portfolio.

Public parking transactions fell to 28.5 million from 32.5 million a year earlier. Parkin said the decline reflected regional geopolitical uncertainty, fewer chargeable days during the quarter and the continued uptake of seasonal cards at existing tariffs.

Parkin’s results also showed a rise in parking enforcement.

The company issued 754,000 enforcement notices in the first quarter, up 33% from 569,000 a year earlier. Public parking violations accounted for 562,000 notices, or 75% of the total.

Smart inspection cars scanned 20.6 million vehicle registration plates during the quarter, up 64% from 12.5 million a year earlier. Field enforcement teams scanned another 10.2 million plates, up 115% from 4.7 million.

Parkin said the increase in fines reflected the expansion of its parking portfolio and the continued use of technology in enforcement.

The company also began testing a new smart scan car camera system in February, with the technology installed on one inspection vehicle. The roof-mounted system is designed for use in more congested parts of Dubai and aims to reduce the need for on-foot inspections.

Parkin reported total revenue of Dh384.2 million in Q1 2026, up 41% from Dh273.3 million a year earlier. Net profit rose 36% to Dh185.1 million, while EBITDA increased 31% to Dh231.3 million.

Revenue increased across public parking, developer parking, seasonal cards and enforcement.

Developer parking revenue rose 66% to Dh33.6 million, supported by more spaces and higher transaction volumes. Revenue from seasonal cards and permits increased 79% to Dh76.3 million. Enforcement revenue rose 46% to Dh119.7 million.

Public parking utilisation stood at 21.8% in Q1 2026, down from 29% a year earlier. Parkin said the comparison with Q1 2025 was not directly meaningful because variable tariffs had not yet come into effect at that time.

The company said trading in January and February was in line with expectations, while March was affected by regional geopolitical developments, a longer Eid Al Fitr holiday period and temporary remote working and schooling arrangements.

Parkin said it is keeping its 2026 revenue guidance under review and expects to provide a revised assessment with its second-quarter results in early August.