Dubai’s Parkin, a leading provider of paid public parking services, has signed a 10-year agreement with Dubai Sports City to manage parking at key locations within the community.
Under the deal, Parkin will create approximately 3,100 new parking spaces across three types of infrastructure – paved, unpaved, and unsurfaced areas. Construction is set to begin in the fourth quarter of 2025 and is expected to be completed by the end of 2026.
The project is expected to generate revenues of AED40 million to AED50 million (around US$10.9 million to US$13.6 million) over the 10-year contract. The initiative is projected to be accretive and cash flow positive, with a breakeven period of approximately four years.
The company will manage all civil works, including new road construction and converting unpaved areas into paved parking lots. The project’s capital expenditure is estimated at AED18 million to AED20 million (US$4.9 million to US$5.45 million). Since Parkin is funding the full capital expenditure, the revenue model allows the company to recover its upfront investment during the early years of the contract.
Starting this month, light civil work will begin on the paved portion of the portfolio, covering around 900 spaces. These spaces are expected to become operational within eight weeks and will be integrated into Parkin’s growing developer portfolio. From January 2026, focus will shift to the development of the unpaved and unsurfaced sections, totaling nearly 2,200 spaces.
Parkin will also handle ongoing maintenance for all assets, including parking areas, roads, and footpaths.
Parking at these new facilities will be chargeable Monday to Saturday from 8:00 am to 10:00 pm. The tariff is AED2 per hour, AED20 for a full day, and AED2,800 for an annual seasonal card. The pricing structure is fixed for the first three years, after which it may be revised according to the contract.
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