The profits of Parken, the leading provider of paid parking facilities and services in Dubai, surged to 284.9 million dirhams (9.50 fils per share) by the end of the first half of 2025, compared to 198.8 million dirhams earned during the same period in 2024.
Parken has announced its operational and financial results for the second quarter of this year, which ended on June 30, 2025.
For the second quarter of the year, the company reported the following results: total revenues reached 320.0 million dirhams (an increase of 56%), earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at 189.3 million dirhams (up by 41%), with the margin expanding to 59%. The net profit also increased to 148.4 million dirhams (an increase of 56%), primarily due to the addition of approximately 11,100 new parking spaces across all facilities (a growth of 6%). The total number of parking transactions reached 33.2 million (up by 15%), while the occupancy rate for public parking was 22.7% (a decrease of 3.0 percentage points), alongside a remarkable rise in the sales of annual parking cards by 70,900 cards (a 140% increase).
The company stated that the franchise fee agreement with the Roads and Transport Authority has been reviewed, and it has maintained its financial guidance for the fiscal year 2025, expecting to achieve results at the upper end of the projected range.
In his comments on the financial results, Engineer Mohammed Abdullah Al Ali, CEO of Parken, stated: “The record performance of Parken during the second quarter of 2025 reflects our ambition to redefine the urban mobility sector in Dubai by providing smart and efficient parking solutions that enhance the user experience. Following a strong start to the year, we continued our growth in the second quarter by implementing our strategy for robust growth and operational excellence.
This outstanding performance led to a total revenue increase of 56%, reaching 320 million dirhams. These extraordinary results were supported by the successful implementation of a flexible pricing policy for parking services, the continuous rise in transaction numbers, achieving record sales of seasonal cards, and improved returns from monitoring systems.
The strong growth in revenues resulted in a 41% increase in earnings before interest, taxes, depreciation, and amortization, reaching 189.3 million dirhams, while net profit rose by 56% to 148.4 million dirhams. Major operational achievements in this quarter include the addition of 11,100 new parking spaces, executing 33.2 million transactions, and attaining record sales of seasonal cards, amounting to 70,900 cards.
As Dubai continues to establish itself as a global economic hub for infrastructure and innovation, Parken remains committed to fulfilling the emirate’s aspirations, focusing on providing sustainable mobility solutions that empower communities and enhance daily quality of life. We are fully confident in our ability to seize new opportunities and contribute to the bright future of Dubai.”