Dubai-listed Parkin plans to expand its portfolio this year and increase its revenues from public parking spaces by up to 16.3%.

Approximately 5,500 to 7,500 new spaces are expected to be added over the course of 2026, driving revenues for the public parking segment to reach between AED 560 million and AED 610 million ($166 million), the parking operator said.

The planned additional on-street and open-air parking slots, at the upper end of the target, represents a 3.9% increase over the current public parking portfolio of 193,200 spaces.

The parking operator shared the management’s portfolio growth targets on Wednesday, as it reported a net profit of AED 625.5 million ($170.31 million) for the full year 2025, marking a 48% increase compared to a year ago.

The growth in net earnings was driven primarily by Dubai’s expanding population and the introduction of variable parking tariffs.

Also for the full year 2025, total revenues reached AED 1.33 billion, up 43% year-on-year, with the public parking segment alone generating AED 524.5 million in revenues.

Overall, Parkin has a total of 229,000 parking spaces in its portfolio, including public parking (on-street and open-air slots), developer parking and public multi-storey car parks.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com