Dubai's exclusive public parking operator Parkin Company has announced solid results for the second quarter with its  total revenue surging 14% jump for the second quarter to AED364.1 million ($99 million) and its total parking portfolio increased to 268,300 spaces, up 27% from 211,500 last year. 

Announcing its results for the three-month period ended June 30, 2026, Parkin said its net profit rose 12% to AED166.2 million, supported by growth in seasonal cards, developer parking and enforcement, while ebitda increased 15% to AED217.2 million from AED189.3 million, with an ebitda margin of 60 percent.

Eng. Mohamed Abdulla Al Ali, CEO of Parkin, said, "Parkin delivered a strong second quarter, with revenues up 14 percent to AED364.1 million, EBITDA up 15 percent to AED217.2 million and net profit up 12 percent to AED166.2 million. Growth was driven by our seasonal cards, developer parking and enforcement segments, offsetting softer public parking demand during the quarter."

He added that Parkin continued to execute its growth strategy, expanding its total parking portfolio by almost 57,000 spaces over the past 12 months. 

In cooperation with the Roads and Transport Authority (RTA), the company added 9,900 public parking spaces in the first half of 2026, while its developer parking portfolio more than tripled to 61,500 spaces through several strategic partnerships.

The company's total parking portfolio increased 27 percent to 268,300 spaces from 211,500 in the second quarter of 2025. Public parking spaces increased by 14,500, or 8 percent, to 203,200 from 188,700. Zone C accounted for 9,900 new spaces and Zone D for 4,500. During the second quarter alone, Parkin added 7,900 public parking spaces in cooperation with the RTA, with around 50 percent of these introduced in June.