Parkin, the prominent parking operator in Dubai, has reported a solid performance for the second quarter of the year, with net profits climbing 12% to Dh166.2 million. This growth was fueled by a significant 14% rise in total revenue, which hit Dh364.1 million, alongside a healthy EBITDA margin of 60%. The company’s expansion strategy is clearly paying off, as it added nearly 57,000 parking spaces over the past year, bringing its total portfolio to 268,300. Much of this success stems from a massive surge in developer-related parking contracts and a robust appetite for seasonal parking permits, which saw revenue jump by 50%.

The firm’s enforcement operations also played a key role in the quarterly success, contributing Dh107.5 million to the bottom line—an 11% increase compared to the previous year. By leveraging a fleet of smart inspection vehicles, Parkin managed to process over 20 million license plate scans, ensuring better compliance across its expanding network. Looking ahead, Parkin remains optimistic about its financial trajectory for 2026. The company has revised its revenue forecasts upward for both seasonal cards and developer parking, signaling confidence that strong demand will continue to offset minor fluctuations in public parking utilization.