Parkin, Dubai’s publicly listed operator of paid parking facilities, has announced a major expansion project to build and manage over 3,000 new parking spaces in Dubai Sports City. The development, set to commence in the fourth quarter of 2025, will significantly increase the company’s footprint in a key residential and commercial hub.
Project Scope and Financials
The new project represents an estimated investment of AED 18 to 20 million ($5 to $5.5 million). Over the course of the 10-year management contract, Parkin projects revenues of AED 40 to 50 million. The company anticipates reaching its break-even point on the investment within four years, highlighting the project’s strong commercial viability.
Phased Rollout and Operations
The construction will be implemented in three distinct phases. The initial phase involves light civil works for 900 paved parking spaces, scheduled to begin in October 2025 with operations launching by December of the same year. Work on the remaining 2,200 spaces is slated to commence in early 2026, with the full project expected to be completed by the fourth quarter of 2026.
Pricing and Tariff Structure
Parking in the new spaces will be chargeable from Monday to Saturday, between 8 am and 10 pm. The tariff is set at AED 2 per hour, with a daily maximum of AED 20. For regular users, an annual seasonal card will be available for AED 2,800. According to a statement from Parkin, these tariffs will be subject to revision after a three-year period.
About Parkin
Parkin is the exclusive operator of public parking facilities in Dubai, managing over 212,000 paid parking spaces across the emirate. As a publicly listed company on the Dubai Financial Market, Parkin plays a crucial role in managing Dubai’s urban mobility infrastructure. The Dubai Investment Fund holds a 75 percent majority stake in the company.
Source: AGBI
