According to its latest quarterly report, Parkin added a total of 11,700 parking spaces across various categories, bringing the total number of parking spots in Dubai to 209,000, a 6% increase compared to the first quarter of last year (197,300).

Breakdown of the parking spaces includes:

• 187,100 public parking spaces

• 18,700 developer-affiliated spaces

• 3,200 multi-storey parking spaces

The report noted that Zone C saw the most significant growth, with 7,800 new spaces, followed by Zone D with 3,000 additional spaces. Meanwhile, 200 spaces were reclassified from Zone A to Zone X, which is reserved for major events.

The developer parking segment recorded a net increase of 5%, growing from 17,900 to 18,700 spaces. This growth offset a prior decline that occurred in the second half of last year due to a revised agreement with a developer in the Al Sufouh area.

During Q1, the company processed 36.5 million parking transactions, generating a total revenue of AED 273.3 million, marking a 27% year-on-year increase. This includes income from parking bookings, retail space leasing, and returns from cash deposits.

Parkin expects to see a further boost in revenue with the introduction of a dynamic pricing model for its public parking portfolio. Forecasts indicate that public parking revenue may range between AED 520 million and AED 550 million for the fiscal year 2025, up from AED 404.6 million last year.

The number of seasonal parking permits also surged by 41%, reaching 45,800 permits in Q1. This growth was primarily driven by a 56% increase in short-term permits (1 to 3 months), which totaled 37,800 compared to 24,200 during the same period last year.

Conversely, demand for medium- and long-term permits (4–12 months) slightly declined, with 6,200 permits sold compared to 6,900 in Q1 2024.

Good news for public parking in Dubai this year

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