Parkin Company PJSC posted AED364.1 million ($99.1 million) in revenue for the second quarter of 2026, up 14 percent from AED320 million a year earlier, as the Dubai-based parking operator expanded its footprint sharply even as public parking usage softened.
The company added about 56,800 parking spaces over the past 12 months, growing its total portfolio by 27 percent to 268,300 spaces from 211,500. EBITDA rose 15 percent to AED217.2 million from AED189.3 million, with margin improving to 60 percent from 59 percent. Net profit climbed 12 percent to AED166.2 million from AED148.4 million.
Public parking softens as developer parking surges
Parking transactions overall increased 2.6 percent to 34 million, but the picture beneath that headline number was mixed. Public parking transactions fell to 27.2 million from 29.2 million, and average public parking utilization declined 2.5 percentage points to 20.2 percent. The weighted average hourly public parking tariff also edged 1 percent lower, to AED3.
Developer parking told a different story. Transactions in that segment jumped 75 percent to 6.6 million from 3.8 million, while developer parking capacity increased by 41,900 spaces to 61,500 from 19,600. Public seasonal-card sales also surged, rising 38 percent to 97,500 from 70,900 a year earlier.
