Dubai: Parkin will increase its presence in shopping centers, airports, and newly developed locations.

Parkin, the public joint stock company entrusted with managing public parking spaces in Dubai, has announced plans to broaden its services to privately owned developments, including shopping malls, airports, and other high-traffic facilities. Ahmed Hashem Bahrozyan, Chairman of Parkin’s Board of Directors, revealed the expansion strategy, emphasizing the company's extensive experience and advanced technology.

"We are preparing to extend our services to private developments and properties as part of our expansion initiative. With over 30 years of expertise and a comprehensive solution framework, we are well-equipped to compete for parking service contracts at malls and other private establishments," stated Bahrozyan.

Established as a PJSC in January of this year, Parkin operates under a 49-year concession agreement with the Roads and Transport Authority (RTA) of Dubai, tasked with managing and operating all public parking facilities in the city. Presently, Parkin oversees approximately 179,000 paid public parking spaces and has existing contracts with private developers for the management of around 18,000 parking spaces, with considerable potential for further expansion in both existing and developing areas.

Bahrozyan clarified that the decision to implement paid parking services within shopping malls or hypermarkets ultimately rests with the property developers. "Whether malls opt for paid parking or maintain free services, it will be at the discretion of their management," he affirmed during Parkin's announcement of its forthcoming initial public offering (IPO) and listing on the Dubai Financial Market (DFM).

In a significant development, Parkin CEO Mohammed Al Ali highlighted the company's active exploration of numerous opportunities to extend agreements with private developers across Dubai. With Parkin already managing 91% of all parking operations in Dubai, Al Ali expressed confidence in the company's ability to expand its operations within shopping malls, underscoring their commitment to providing seamless, sustainable, and innovative mobility solutions.

Al Ali further emphasized Parkin's digital focus, with 90% of transactions conducted digitally. The company offers six payment channels, including parking meters, the RTA App, AppClip via QR code, WhatsApp, seasonal parking cards, SMS, as well as ApplePay, Nol, debit/credit cards, and cash payments. Parkin utilizes digital surveillance and smart parking inspection technologies, along with implementing fully digital and paperless fines notification and payment systems. Additionally, the company employs AI tools to estimate parking availability for electric vehicle customers and individuals with disabilities (People of Determination).