Parkin Reports 14% Revenue Growth in Q2 2026 Despite Geopolitical Pressures and Lower Public Transactions

Dubai's parking operator, Parkin, has successfully increased its revenue for the second quarter of 2026, defying a drop in overall transaction volume. Established in January 2024 to oversee the emirate's parking infrastructure, the company posted a total revenue of Dh364.1 million, marking a 14 per cent rise compared to the same timeframe in 2025.

This financial growth was achieved despite a decline in public parking transactions, which fell to 27.2 million from 29.2 million year-on-year. According to a report released by Parkin on Thursday evening, the softer transaction volumes stemmed from geopolitical factors, an increased reliance on seasonal cards with unrevised tariffs, and fewer chargeable days during the quarter.

Nevertheless, the overall capacity expanded significantly. Total parking spaces grew by 27 per cent to reach 268,300, with public parking spaces seeing an 8 per cent increase to 203,200.

“Parkin delivered a strong second quarter, with revenue up 14 per cent to Dh364.1 million. Growth was driven by our seasonal cards, developer parking and enforcement segments, offsetting softer public parking demand during the quarter,” stated Mohamed Abdulla Al Ali, chief executive of Parkin.

He added, “We continued executing our growth strategy, expanding our total parking portfolio by almost 57,000 spaces over the past 12 months. In co-operation with the RTA, we added 9,900 public parking spaces in the first half of 2026, while our developer parking portfolio more than tripled to 61,500 spaces through several strategic partnerships.”