Parkin to Expand Developer Portfolio into Dubai Sports City

Parkin Company, Dubai’s leading provider of paid public parking facilities and services, on Tuesday said that it will be managing parking at key locations within Dubai Sports City for a period of 10 years.

As part of the engagement, a total of 3,100 new parking spaces will be created in Dubai Sports City. The project consists of three categories of parking infrastructure; paved, unpaved and unsurfaced. Construction will begin in Q4 2025, with completion anticipated in Q4 2026.

Parkin’s revenues over the lifetime of the 10-year contract are estimated between $10.89 million and $13.61 million. The project is both accretive and cash flow positive, with a breakeven period of approximately four years.

Since Parkin is funding the capital expenditure for the project, the revenue model has been structured to allow for the full recovery of the Company’s up-front investment during the early years of the multi-year contract.

Operational Timeline

In October 2025, the company will commence light civil work related to the paved part of the portfolio 900 spaces and these works are expected to take up to eight weeks, scheduled to conclude in December 2025, after which the spaces will become fully operational and integrated into the Company’s growing developer portfolio.

From January 2026, Parkin will shift focus to development of the unpaved and unsurfaced parts of the portfolio of 2,200 parking spaces). Completion of this stage is expected by the end of 2026, the company said in a regulatory disclosure with Dubai Financial Market (DFM) this morning.

Capital Expenditure

The portfolio consists of paved and unpaved areas, as well as locations requiring full road construction.

Parkin will be responsible for key civil works, including new road construction and converting unpaved areas into paved parking lots. The estimated project capex cost is estimated between $4.9 million and $5.45 million.

Once construction is complete, Parkin will assume responsibility for maintaining these assets, including parking areas, roads and footpaths. However, it should be noted that the maintenance costs are not expected to be material.

Parking Tariff

In line with other parking assets operated by the company, the new portfolio will be chargeable Monday to Saturday, from 8 a.m. to 10 p. m. An hourly tariff of $0.54 will apply, with a day rate of $5.45. Customers will also have the option to purchase an annual seasonal card for $762.42. This tariff structure will apply during the first three years of the engagement. Thereafter, the tariff is contractually subject to an upward revision.

With a unique blend of operational excellence, technological know-how and enforcement capability spanning almost three decades, Parkin is the largest provider of paid public parking facilities and services in Dubai, with a portfolio of approximately 212,000 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.

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 70 million parking transactions in H1 2025.