Leading Sharjah developer Arada has signed up Parkin Company, the largest provider of paid public parking facilities in Dubai, as the sole operator at its mega Aljada project.

The contract marks Parkin's first entry into Sharjah, thus representing a significant milestone in the company's geographic diversification strategy outside of Dubai.

Under this agreement, it will manage a mixed portfolio of on‑street, off‑street and building parking assets, including retail malls, commercial premises and residential buildings, across its mega project Aljada.

Up to 9,900 spaces are expected to be phased in between 2026 and 2030, it stated.

According to Parkin, the overall portfolio consists of two distinct components, with development and implementation phased across multiple stages.

The on and off-street element of the portfolio will consist of up to 3,500 spaces, of which approximately 1,400 spaces are expected to be live by the beginning of Q3 2026.

The building parking component will consist of an estimated 6,400 spaces across Aljada, of which approximately 400 spaces are expected to be operational by the end of Q2 2026.

The remaining spaces across both components will be phased in progressively through to 2030, it stated.

On the contract win, CEO Eng. Mohamed Abdulla Al Ali said: "A key growth lever for Parkin, and a notable part of our investment case, is the expansion of our operational footprint beyond Dubai. This framework agreement with Arada extends the scale of our operations into Sharjah for the first time."

"We are delighted to be deploying our flagship smart parking solution as part of this partnership, with access and payment managed entirely through cameras at entry and exit points and auto-pay via the Parkin wallet. Customers will benefit from a seamless, state-of-the-art experience that reflects the best of what Parkin has to offer. We look forward to a long and successful partnership with Arada," he added.

According to him, all locations will be integrated into Parkin's smart parking ecosystem, with access and payment managed entirely through camera-based technology at entry and exit, supported by auto-pay functionality via the Parkin wallet.

Parkin expects to invest approximately AED8 to AED10 million ($2.1 to $2.8 million) in capital expenditure over the life of the contract to support delivery of the portfolio. 

The majority of this investment will be allocated to the deployment of camera-based technology and, in subsequent years, the development of additional parking capacity. 2026 is expected to be the most capital-intensive year, with projected expenditure of approximately AED3 million, he added.

Based on the full and timely rollout of approximately 9,900 parking spaces through to 2030, Parkin’s cumulative share of revenues over the life of the 10-year contract is estimated at AED 40 to AED 50 million. The project is expected be both accretive and cash flow positive over the term of the agreement.

Arada Group CEO Ahmed Alkhoshaibi said this partnership reflects the group's long-standing commitment to bringing best-in-class services to its communities, enhancing the everyday experience of the residents and visitors. 

Parkin's technology-first approach to parking management aligns directly with the new deliveries that will reinforce the milestones Aljada will reach in the coming two years, with the Arada Central Business District, Madar Mall, the Aljada sports complex and many more residential neighbourhoods all set to open, bringing a new level of energy and activity to this community. 

"We look forward to working with Parkin to deliver smart, sustainable parking solutions that are fully aligned with our broader infrastructure vision for Aljada," he added.-TradeArabia News Service

 

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