The total number of fines issued by Parkin Company increased by 63 per cent during the third quarter of this year, as compared to the same period in 2024, as the company posted a record net profit of Dh157 million, up 50 percent from last year. The number of fines issued jumped from 418,100 in Q3 of 2024 to 682,100 in 2025.

The company's total revenues jumped 43 per cent to Dh343.3 million, driven by several factors including variable parking tariffs and increase in areas covered by paid parking. This comes as the average parking fees across all public parking spaces rose by 51 per cent to Dh3.03.

The seasonal card sales jumped by 126 per cent to reach a record 81,000 from 35,800 in Q3 last year, on the back of the introduction of variable parking tariffs. It was in April this year that the company introduced these new rates in Dubai, reclassifying its parking portfolio into standard and premium parking categories. Since then, customers have chosen to opt for seasonal card, which give much better value for money.

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According to Mohamed Abdulla Al Ali, CEO of Parkin, the increase in revenue was“driven by the successful implementation of the variable parking tariff, expansion of operational footprint, sustained transaction volumes, record seasonal card sales and robust enforcement proceeds.”

He added that the strong performance translated into a 36 per cent increase in profitability ratio EBITDA to Dh199.8 million and a 50 per cent rise in net income to Dh157 million.

Parkin issued 63 per cent more fines in Q3 2025- rising from 418,000 to 682,000- due to higher customer activity, a larger parking network, and new technology improvements introduced in late 2024. The expansion of the smart scan inspection fleet to 27 vehicles also contributed significantly. In early 2025, Parkin hired trained drivers for these vehicles, allowing inspectors to shift to on-ground or supervisory roles.

About 82 per cent of all fines were for public parking violations. The field enforcement team scanned 9.8 million vehicle plates in Q3 2025,,a 107 per cent increase from 4.7 million last year, boosted by technology upgrades and smarter resource allocation to high-demand areas during peak times.

In September 2025, Parkin added 31 new drivers for its smart inspection vehicles, further freeing up inspectors to focus on fieldwork and supervision.

The number of parking spaces increased by six per cent to 219,000 as compared to the same period in 2024, driven by additions to public and multi-storey car parking portfolio. However, there was a decline in developer parking spaces by 5 per cent, due to the phase-out of some spaces at Al Sufouh.

Public parking spaces increased by 7 per cent to 192,100 spaces in Q3 of 2025. The Zone C on-street parking saw the largest increase with 7,800 spaces added, while Zone D off-street parking saw the addition of 4,600 new spaces. Between year-end 2024 and Q3 2025, a total of 8,100 new public parking spaces were added. The number of Zone A and Zone B parking spaces remained the same.

Mohamed said that the company had built a number of new partnerships during the quarter.“We signed several contracts to grow our developer parking portfolio and partnered with CAFU to launch the region's first on-demand fuel and car wash service across our parking network,” he said, adding that the company expected these initiatives to contribute to revenue growth in the coming quarters.

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