Business, assets, shareholders, annual and interim results, risks and official contacts.
Identity revalidation is due; this dated record is not proof of current listing status · 2026-08-11
What distinguishes this business
Parking time, permits and enforcement have different revenue and collection mechanics.
Prepaid wallets and permits are not necessarily immediate accounting revenue.
Concession obligations are distinct from bank borrowing and land ownership.
Business and legal history
As of: 2025-12-31
Parkin Company P.J.S.C. is Dubai’s exclusive public parking operator. Established on 29 December 2023, it began operations on 1 January 2024 and listed on DFM as PARKIN following the IPO on 21 March 2024. Its business includes paid street parking, off-street facilities, multi-storey parking and selected developer-owned sites.
The company operates, monitors and enforces parking services. The accounts treat the transfer of the RTA parking business as a reorganisation using predecessor accounting. The operating history therefore extends beyond the age of the listed company; the legal incorporation date does not mark the beginning of parking services in Dubai.
Customers pay for parking time, seasonal cards, permits and reserved spaces. Other income streams include enforcement and services associated with parking. Digital payments and inspection systems connect the physical network with billing and collection. A customer wallet top-up or prepaid permit is not necessarily immediate accounting revenue: unearned amounts remain contract liabilities.
The annual balance sheet records concession-related intangible assets, equipment and right-of-use assets. Managed parking capacity is an operating measure, not evidence that Parkin owns the underlying land. The concession includes rights to use real estate and ownership of operating assets; developer partnerships likewise do not make developers subsidiaries.
Dubai Investment Fund held 75.01% at 31 December 2025 after selling 24.99% in the IPO. The Government of Dubai is the ultimate controlling party. The annual financial statements identify Ahmed Hashem Bahrozyan as chairman and Mohamed Abdulla Al Ali as chief executive.
Parkin Mobility L.L.C., incorporated on 18 March 2025, was wholly owned and dormant at year-end. It was consolidated but had no material impact on annual financial position, performance or cash flow. This is a dated group perimeter; a dormant subsidiary should not be described as an established earnings engine. RTA is the concession counterparty, not a Parkin subsidiary.
The RTA agreement signed on 5 February 2024 took effect on 1 January 2024 for 49 years, subject to contractual termination or extension. Parkin paid AED 1,100 million upfront and recorded an AED 300 million deferred concession fee due on insolvency. That deferred obligation is distinct from bank borrowing.
The original variable fee was 20% of relevant parking revenue. April 2025 tariff changes activated an adjustment formula. At year-end, discussions with RTA concerned a revised rate between 20% and 27.5%; management recognised an additional AED 44.46 million provision. These annual disclosures do not establish the final current rate. Higher customer tariffs can therefore also raise concession costs.
Audited FY 2025 revenue was AED 1,308.302 million, against AED 915.812 million in FY 2024. Net profit was AED 625.507 million versus AED 423.490 million. Finance income is separate from statutory revenue; management presentations using a wider total-revenue measure should not be mixed with this accounting line.
WAM’s 14 August 2026 report gives Q2 2026 total revenue of AED 364.1 million and net profit of AED 166.2 million; the parking portfolio reached 268,300 spaces. These quarterly figures are not cumulative half-year results.
At 31 December 2025 assets were AED 2,351.535 million, liabilities AED 1,848.723 million and equity AED 502.812 million. Cash equivalents were AED 220.682 million and separate short-term deposits AED 244.500 million. These balances must not be represented as current cash availability.
The Emirates NBD facility dated 26 January 2024 comprises an AED 1,100 million term loan and AED 100 million revolving facility. The term principal matures five years from the agreement date; its floating interest is three-month EIBOR plus 0.80%. The annual carrying amount was AED 1,098.304 million after financing costs. Contractual principal, accounting carrying value and net debt are different measures.
FY 2025 operating cash flow was AED 733.570 million. Cash purchases of equipment and intangible assets were AED 13.946 million, and dividends paid were AED 592.864 million. Operating cash flow is not the amount automatically distributable: financing, investments and reserve requirements also matter.
Prepaid parking products support collection before service delivery, while fines create receivables and credit-loss exposure. Profit growth and cash conversion can diverge. Annual dividend cash payments relate to their payment year and need not equal the dividend attributed to that year’s profit. No future distribution is guaranteed by the historical cash-flow statement.
The annual strategy prioritises expansion in public and developer parking, operational efficiency, digital systems, customer experience and safety. Growth can come from additional contracted spaces, changing utilisation, customer products and services. Announced partnerships need to become operating sites and collected revenue before their financial contribution can be established.
Editorial interpretation: portfolio growth alone does not show stronger unit economics. Useful tests are utilisation, revenue per active space, contract costs, collection and the investment needed to serve the enlarged network. Technology can improve inspection and convenience, but introduces dependence on reliable software, data and payments.
The external audit highlighted enforcement revenue recognition and expected credit losses on enforcement receivables as key audit matters. This signals the importance of systems, evidence and estimation, not a finding of misconduct. The amount billed and the amount ultimately collected are distinct.
Editorial interpretation: the principal exposures include changes in regulated tariffs and concession economics, customer travel patterns, collection, system outages, cybersecurity and floating financing costs. Concentration in Dubai and government-linked counterparties creates a common policy and economic exposure. A long concession does not eliminate termination provisions or future operating obligations.
Parkin — 258,000 spaces, four lettered zones and a fee nobody has fixed yet · 2026-08-25Dubaist fundamental review
Parkin — 258,000 spaces, four lettered zones and a fee nobody has fixed yet
Author
Lapshin Vadim
Evidence checked
Four lettered zones, and most of the network sits in the cheaper two
At 31 March 2026 Parkin held 258.0 thousand spaces: 195.2 thousand public, 59.1 thousand run for developers under commercial contract and 3.7 thousand inside six multi-storey car parks. The public inventory is graded by letter rather than by district. At the end of 2024 Zone A, premium on-street, covered 26.6 thousand spaces; Zone B, premium off-street, 3.3 thousand; Zone C, standard on-street, 114.5 thousand; Zone D, standard off-street, 39.6 thousand. The bulk of the graded network sits in the two standard bands.
The developer book changes shape fastest: 18.0 thousand spaces in 2023, 19.2 thousand in 2024, 32.3 thousand in 2025 and 59.1 thousand by the first quarter of 2026, a 216% year-on-year jump. Those spaces bring lease cost with them and sit outside the concession fee base.
A concession priced as a share of takings, not as rent
Exclusivity over Dubai's public paid parking runs 49 years from 1 January 2024, to 2073. Parkin paid AED1.1 billion up front, recognised a further AED300 million deferred to the Roads and Transport Authority, and pays a variable quarterly fee struck on defined parking revenues rather than on everything it collects. The base rate was 20%. When variable tariffs began in April 2025 a contractual revision formula opened with 27.5% named as the ceiling, and at the 2025 year end the revised rate was still under discussion. Management put an extra AED44.460 million against it inside a total concession charge of AED204.723 million; the first quarter of 2026 carried AED57.9 million. The figure in the accounts is therefore the company's own estimate of a rate its counterparty has not yet set.
Price carried 2025 while volume moved the other way
Statutory revenue reached AED1,308.302 million in 2025 against AED915.812 million, up 42.9%. Profit rose 47.7% to AED625.507 million, operating cash flow to AED733.570 million, total assets to AED2,351.535 million. Measured from the 2021 carve-out base of AED590.566 million revenue is 121.5% higher, and profit stands 185.0% above AED219.503 million. Within 2025 the split was AED524.492 million public on- and off-street, AED408.653 million enforcement, AED221.987 million permits and seasonal cards, AED94.013 million developer parking and AED14.415 million multi-storey. The network handled 140.8 million transactions, issued about 2.70 million fines and completed 93 million plate scans.
The first quarter of 2026 shows the strain behind those totals. Revenue grew 41.0% to AED379.359 million and profit 35.6% to AED185.132 million, yet transactions fell 5% to 34.7 million and public utilisation dropped from 29.0% to 21.8% while the weighted tariff climbed from AED2.00 to AED3.02 an hour.
Three of the five history columns belong to another entity
The 2021 to 2023 figures are audited carve-out accounts of the RTA parking business. Parkin Company was established on 29 December 2023 and began operating on 1 January 2024, which is when concession fees, corporate tax, borrowings and intangible-concession accounting first appear. Total assets jump from AED252.231 million to AED2,210.232 million across that boundary for structural reasons, not because anything was built.
Funding is a single AED1,098.304 million unsecured Murabaha term facility priced at three-month EIBOR plus 0.80% and repayable in one bullet five years from 26 January 2024. Against AED220.682 million cash, AED244.500 million deposits and AED48.062 million lease liabilities, net debt was AED681.184 million at the 2025 year end, 0.85 times management EBITDA of AED798.2 million versus a 4.5 times covenant, and AED524.125 million by March 2026. Distributions declared for 2025 were AED311.997 million at AED0.103999 per share and AED343.723 million at AED0.114574, AED655.720 million together, roughly 104.83% of profit after roughly 113.27% in 2024. Dubai Investment Fund holds 75.01%.
Where the disclosure runs out at Parkin
Public utilisation for the full 2025 year is not published, so the tariff and volume effects cannot be separated across that year. Enforcement receivables were AED203.6 million gross against an AED28.9 million allowance, with AED46.5 million more than 395 days old carrying a 40% loss rate, and no cash collection roll-forward accompanies them. The seasonal-card series changes definition: 285.0 thousand cards sold in 2025 against 139.0 thousand cards and permits issued in 2024, two different populations. Plate scans appear as 93 million in one narrative and 94 million in another. From 1 June 2026 a 5% VAT is added to public parking, with the authority stated to reimburse the retrospective amount for February 2024 to May 2026; that receipt is not yet tied to cash. Nothing written above assigns a price, a value or a position.
Key reported figures
Metric
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
590.566
686.242
779.379
915.812
1308.302
Profit Owners
219.503
315.599
394.09
423.49
625.507
Total Assets
364.056
289.66
252.231
2210.232
2351.535
Equity Owners
479.961
502.812
Operating Cash Flow
148.267
419.384
454.239
546.076
733.57
Revenue
379.359
Profit Owners
185.132
Gross Debt
1098.442
Cash
Net Debt
524.125
Restricted Or Escrow
Revenue Pct
121.5
Assets Pct
An empty cell means the issuer did not report a value for that field.
Physical assets
258.0 thousand parking spaces at 31 March 2026: 195.2k public, 59.1k developer-operated, 3.7k multi-storey
six multi-storey car parks
tariff zones at end-2024: Zone A premium on-street 26.6k spaces, Zone B premium off-street 3.3k, Zone C standard on-street 114.5k, Zone D standard off-street 39.6k
49-year RTA concession from 1 January 2024, running to 2073
weighted average public tariff AED3.02 per hour in Q1 2026, AED2.00 in Q1 2025, AED2.02 in FY2023
140.8 million parking transactions in FY2025; 34.7 million in Q1 2026
about 2.70 million fines issued in FY2025; 754.3 thousand in Q1 2026
285.0 thousand public seasonal cards sold in FY2025; 100.6 thousand in Q1 2026
93 million number-plate scans in FY2025
gross enforcement receivables AED203.6m at FY2025, of which AED46.5m older than 395 days
Group entities
Dubai Investment Fund - 75.01%, wholly owned by the Government of Dubai
IPO and public holders - 24.99%
FY2025 statements are Parkin Group consolidated; FY2024 is the standalone issuer year
Geographic footprint
Dubai only; no revenue reported outside the emirate
Official contacts and source dates
As of: 2026-08-30
Website: https://www.parkin.ae. Public company email: ask@parkin.ae. Corporate telephone: +971 4 6117111. Registered address: Level 1, Festival Tower, Dubai Festival City, P.O. Box 36699, Dubai, UAE. These are published business contacts; no personal mobile is included.
Prepared on 30 August 2026. The group, ownership and balance sheet refer to 31 December 2025; the separately labelled quarter ended 30 June 2026. Figures in the annual statements were converted from AED thousand to AED million. Source references use physical PDF pages. Updated results and concession terms require dated revisions, not automatic extrapolation.
The source-attributed editorial profile is separate from database verification. Missing, stale and conflicting database fields remain disclosed below; they do not describe the completeness of this article.
Company overview
Exchange
DFM
Ticker
PARKIN
ISIN
AEE01370P249
Market identifier code (MIC)
XDFM
Stable research ID
DFM-PARKIN
Industry evidence
Parking infrastructure, mobility services and enforcement
Coverage follows a reconciled listed-security identity and dated evidence. Inclusion describes research scope only; it is not a ranking, recommendation or claim of complete financial coverage.
Identity reconciliation
Exchange and ticker matched the research registry
Current public research layer
Review ready · verified figures appear when approved
Evidence boundary
Identity record checked: 2026-08-11
No source — no fact
Company evidence map
Open a card to inspect its public evidence. Missing, stale, conflicting or unavailable data is never replaced with an estimate.
Review ready · verified figures appear when approved
The fields below come from the current public company registry and any human-published issuer profile. Empty issuer-contact fields stay visibly missing until source and publication-rights review are complete.
Official listed name
Parkin Company
Available
Exchange
DFM
Available
MIC
XDFM
Available
Ticker
PARKIN
Available
ISIN
AEE01370P249
Available
Instrument
Listed equity
Available
Sector
Transport and logistics
Available
Industry
Parking infrastructure, mobility services and enforcement
Available
Identity checked
2026-08-11
Available
Official website
Missing
Missing
Investor relations
Missing
Missing
Registered address
Missing
Missing
Public contacts
Missing
Missing
Latest verified update
Company activity context
Only exact-security, human-published activity that passes every public source-document check can appear here.
No linked update currently passes every public gate.
Required identity fields are shown individually with their evidence state. A public link is not reuse permission, and a blank is never converted to a guess.
Stale
Official name
Parkin Company
Stale
Ticker
PARKIN
Stale
Exchange and MIC
DFM · XDFM
Stale
ISIN
AEE01370P249
Stale
Instrument type
Listed equity
Stale
Sector and industry
Transport and logistics · Parking infrastructure, mobility services and enforcement
An editorial company profile is published below. It is separate from database-verified fields; source dates and limitations remain attached to the article.
Parkin Company is a listed equity on DFM under ticker PARKIN. Public classification: Transport and logistics. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.
Infrastructure evidence plan
How to verify this operating system
The company-specific focus below fixes the perimeter before any operating or financial comparison. It contains no current value, forecast, valuation or market signal.
Parking concessions, capacity and mobility-services perimeter
Define the physical denominator: trip, passenger, vehicle, vessel, container, parcel or capacity unit.
Keep owned, leased, operated, contracted and concession assets as distinct scopes.
Tie yield, utilisation, unit cost and service quality to one mode, geography and period.
Financial article · plain language
How to read this operating platform
Numerical values remain in the separate source-document check
How the business converts infrastructure into money
A fleet, concession, port, road, parking network or logistics platform converts physical throughput and utilisation into fees, fares, freight, lease or service revenue.
Five linked questions
1. What physical demand was served?
Define the denominator: trip, passenger, vehicle, vessel, container, parcel or capacity unit.
2. How was it priced?
Separate tariff, fare, yield, freight rate, lease income and ancillary revenue by mode.
3. Which assets produced the service?
Keep owned, leased, operated, contracted and concession assets in distinct scopes.
4. What drives cost and cash conversion?
Tie fuel, labour, maintenance, access fees and unit cost to the same service and period.
5. What must be funded next?
Match fleet or network expansion to contracted demand, financing, lease obligations and utilisation ramp.
Source-linked editorial profile
An editorial company profile is published below. It is separate from database-verified fields; source dates and limitations remain attached to the article.
The metrics below define the correct analytical lens for this business model. They contain no company values: a value appears only after official-document provenance and editorial verification.
Traffic or throughput
Passengers, trips, cargo, containers or vessels with mode, period and unit stated.
Yield
Revenue per passenger, trip or physical unit on a consistent scope and mix basis.
Asset utilisation
Use of fleet, terminals or capacity relative to the available base for the period.
Contracts and concessions
Contracted duration, pricing, volume protection and renewal terms kept explicit.
Unit cost
Operating cost per comparable traffic or capacity unit with exclusions identified.
Only exact-security activity that passes the automatic source, locator, date and localization gates is shown. Exceptions remain unpublished. Each date keeps its lifecycle meaning.
Verified public facts and their source trail remain free. Normalization notes, scenario work and analytical conclusions require an active premium entitlement.
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