(MENAFN- Mid-East Info) Dubai, UAE; October, 2025: Parkin Company PJSC (“Parkin” or the“Company”), Dubai's largest provider of paid public parking solutions and services, has announced the signing of strategic MoU with InsuranceMarket, the largest insurance platform in the UAE, at GITEX Global 2025, where the Company is participating to showcase its latest digital mobility innovations. This agreement marks a major step forward in expanding Parkin's digital ecosystem and enhancing the customer journey by introducing insurance as a new value-added service.

The collaboration highlight Parkin's commitment to expanding its platform capabilities, enabling deeper integration of services that enhance convenience, connectivity, and the overall customer experience across Dubai.

The collaboration with InsuranceMarket aims to explore opportunities for enhancing customer experience through digital innovation and value-added mobility solutions. Both parties intend to leverage their respective platforms and expertise to identify areas of mutual benefit including initiatives that promote convenience, safety, and accessibility for motorists across the UAE. The partnership will focus on developing integrated, customer-centric offerings and joint awareness campaigns that highlight the benefits of digital transformation in the mobility and insurance ecosystems.

Speaking on the significance of Parkin's partnerships, Eng. Mohamed Abdulla Al Ali, CEO of Parkin, commented:“Our partnership with InsuranceMarket represents a pivotal step in Parkin's mission to redefine the urban mobility landscape. By integrating essential services such as insurance within our smart parking ecosystem, we are setting new standards for convenience, efficiency, and innovation. This collaboration further amplifies Parkin's role as a key enabler of Dubai's smart city vision and reinforces the Emirate's global leadership in sustainable, technology-driven mobility solutions.”

Echoing the importance of the collaboration, Avinash Babur, Founder & CEO of InsuranceMarket, commented:“At the heart of everything we do is the customer, and our partnership with Parkin enables us to make their journeys even smoother. By integrating insurance and mobility under one digital ecosystem, we're creating everyday conveniences that support Dubai's vision for a smarter, more connected city, delivering simplicity, innovation, and peace of mind to every motorist.”

The collaboration reinforces Parkin's strategy to build a fully connected mobility ecosystem that unites key service providers under one intelligent platform. Announced during GITEX Global 2025, the agreement underscore Parkin's active role in showcasing how smart partnerships and digital integration are transforming Dubai's mobility landscape and highlights its commitment to advancing smart city solutions across the Emirate.

About Parkin Company PJSC:

With a unique blend of operational excellence, technological know-how and enforcement capability spanning almost three decades, Parkin Company PJSC is the largest provider of paid public parking facilities and services in the Emirate of Dubai, with a portfolio of approximately 212k paid parking spaces, as at H1 2025.

Parkin has a dominant position in relation to Dubai's on and off-street paid public parking market and a leading share of the overall paid parking market. Under a 49-year Concession Agreement with Dubai's Roads and Transport Authority (RTA), Parkin has the exclusive right to operate a portfolio of public on and off-street parking (c.189k spaces) as well as public multi-storey car parking facilities (c.3k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (c.20k spaces) and provides barrierless, ticketless parking on behalf of Majid Al Futtaim across two malls. Additional revenue streams include enforcement, the issuance of seasonal permits, parking reservations and other commercial activities.

By deploying state of the art digital payment solutions and intelligent parking management systems that utilise artificial intelligence and big data analysis, Parkin's customers successfully conducted 70m parking transactions in H1 2025.

Dubai's parking operations were established in 1995 under the Dubai Municipality, before becoming part of the RTA in 2005. In December 2023, Parkin Company PJSC was established through the issuance of Law No. 30 of 2023, successfully completing its initial public offering (IPO) on the Dubai Financial Market in March 2024.

About InsuranceMarket:

InsuranceMarket is the leading insurance platform of the UAE, offering a broad range of insurance products. With nearly 30 years of expertise and over 200,000 policyholders, the company provides customers with the ability to compare and buy insurance online, backed by professional advisory services. Whether at the time of purchase or during a claim, InsuranceMarket ensures customers receive expert guidance and support. Known for its proprietary technology that provides market-leading customer experiences and trusted mascot Alfred, InsuranceMarket stands as a steadfast ally in securing what matters most.

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