Parkin
Parkin Company PJSC is Dubai's exclusive public parking operator under RTA concession, managing 258,000 AI-enabled parking spaces and serving individual motorists, property developers, and corporate clients through a mobile-app-based smart parking platform.
- Company typePublic
- Founded2024
- HeadquartersKuala Lumpur, Malaysia
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Parkin does
Parkin Company PJSC is Dubai's exclusive public parking operator, listed on the Dubai Financial Market (ticker: PARKIN) following its 2024 IPO that raised $429 million. The company operates under a concession from the Dubai Roads and Transport Authority (RTA) and manages approximately 258,000 parking spaces across on-street zones, multi-storey facilities, developer-managed properties, and dedicated corporate sites in Dubai. Its technology stack centers on AI-enabled license plate recognition cameras (500+ solar-powered units deployed in high-traffic areas such as Burj Khalifa, Trade Centre 1, and Al Corniche), a gateless/paperless barrierless parking infrastructure with 24/7 automatic payment processing, and a mobile application that serves as the central digital platform for payments, digital wallet, loyalty rewards, and integration with adjacent mobility services.
The business model is built on four revenue streams: usage-based public parking fees (Dh4.20/hour standard, Dh6.30/hour premium after 5% VAT from June 2026), recurring subscription revenue from seasonal and annual parking cards (record 100,600 units sold in Q1 2026), multi-year managed services contracts with property developers and corporate entities (DAMAC 3,600 spaces, Binghatti 1,200 spaces, DP World Al Aweer 3,000 spaces), and ancillary service fees from partnerships such as CAFU (Dh5-7 million annually). Q1 2026 revenue reached Dh384.2 million (+41% year-on-year) with net profit of Dh185.1 million (+36% year-on-year), while 2025 full-year net profit was Dh625.5 million (+48% year-on-year). Parkin serves individual motorists (primary), property developers, government and corporate entities, and small businesses through loyalty and cashback programs such as Spots for Shops and Parking to Support You, with a strategy of embedding parking within Dubai's broader smart city and EV mobility ecosystem.
Parkin firmographics
Firmographics- Name
- Parkin
- Legal name
- Parkin Company PJSC
- Website
- https://parkintech.com
- Company type
- Public
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Parkin Company PJSC is Dubai's exclusive public parking operator under RTA concession, managing 258,000 AI-enabled parking spaces and serving individual motorists, property developers, and corporate clients through a mobile-app-based smart parking platform.
- Ownership category
- akta.pro rank
Parkin industry classification
Industry- Product category
- Public Parking Operations
- NAICS
- Parking Lots and Garages (812930)
- SIC
- Auto Controls For Regulating Residential & Comml Environments (3822)
- akta.pro primary industry
- Digital Payments & Enforcement for Parking (Mobile Pay, LPR/ANPR, Citation Mgmt) (TLAJAIAE)
- akta.pro secondary industry
- Parking Management & Enforcement (Citations, Permits, Compliance) (BPABAKAB)
Keywords
Where Parkin is headquartered
LocationHeadquarters
- HQ city
- Kuala Lumpur
- HQ country
- Malaysia
- HQ region
- Asia
Offices1 record
Markets served
Parkin business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Technology or R&D, Infrastructure
Revenue model
- Public Parking Fees: Hourly parking fees collected from on-street public parking across Dubai, with variable tariffs based on zone and duration. Revenue is usage-based and directly tied to parking occupancy and vehicle counts. The company added 49,000 new spaces in Q1 2026, expanding total portfolio to 258,000 spaces.
- Seasonal/Annual Parking Cards: Seasonal parking permits and annual cards sold to frequent users. Sales jumped 140% following the 2025 tariff overhaul as motorists sought cost savings versus hourly rates. Record 100,600 units sold in Q1 2026.
- Developer Parking Management: Long-term contracts to manage parking facilities for property developers and residential/commercial developments. Includes DAMAC (3,600 spaces), Binghatti (1,200 spaces), and DP World Al Aweer Market (3,000 spaces).
- Ancillary Services: Revenue from on-demand services at parking facilities including fuel delivery and car wash through CAFU partnership, estimated at Dh5-7 million annually.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Standard parking rate: Dh4.20/hour (including 5% VAT) |
| Usage-based | Pay-as-you-go | Premium parking rate: Dh6.30/hour (including 5% VAT) |
| Subscription | Annual | Seasonal/Annual Parking Cards |
| Usage-based | Pay-as-you-go | Dubai Healthcare City: Dh4/hour |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels3 records
Parkin product offering
Product offeringCore offering
Parkin Company PJSC operates as Dubai's exclusive public paid parking operator under an RTA concession, managing approximately 258,000 on-street, off-street, multi-storey, and developer parking spaces. Its core offering combines physical parking infrastructure with an AI-enabled camera system (license plate recognition), a gateless/paperless payment platform, and the Parkin mobile app that enables cashless, meterless parking fee processing, seasonal permit sales, and developer parking management contracts.
Product overview
Parkin PJSC operates as Dubai's exclusive public parking operator offering a unified smart parking ecosystem. The core offering consists of 258,000 parking spaces managed through an AI-enabled camera system and gateless/paperless parking infrastructure. The Parkin mobile application serves as the central digital hub integrating payments, automatic fee processing, digital wallet for cashback rewards, and access to insurance and valet services. Supporting products include seasonal parking cards for frequent users and enterprise solutions like the Secure Parking partnership for barrierless smart parking. Parkin expanded into developer parking segments through agreements with Binghatti (1,200 spaces) and DAMAC (3,600 spaces), while also partnering with DP World for specialized logistics parking at Al Aweer market. Note: ParkIN Malaysia (parkintech.com) is a separate entity offering smart parking solutions with LPR, mobile payment, IoT, cloud computing, and big data capabilities.
Differentiator
Problem solved
Functional benefit
Brands
- Spots for Shops: Cashback initiative allowing drivers to earn rewards by supporting local businesses at Parkin-managed parking zones
- Parking to Support You
- Gateless Paperless System
Products and services
- Public Parking Services (Dubai On-Street and Off-Street) Dubai's exclusive public paid parking service covering approximately 258,000 on-street, off-street, multi-storey, and developer parking spaces operated under RTA concession, with variable hourly tariffs and digital payment.
- AI-Enabled Parking Camera System Solar-powered AI cameras with license plate recognition that automate fee collection and monitor parking occupancy in real time across Dubai's high-traffic zones, described as a regional first for curb-side camera technology.
- Gateless/Paperless Parking System Barrierless, cashless smart parking solution featuring automatic payment processing, Pay Later options through the Parkin app, 24/7 operation, and a 2-hour free grace period, expanding across Dubai.
- Parkin Mobile Application Mobile app for iOS and Android enabling cashless parking payments, automatic fee processing, Pay Later options, QR code scanning, digital wallet for cashback rewards, and integration with insurance and valet services.
- Seasonal Parking Cards Annual and seasonal parking permit cards sold to frequent users, offering discounted unlimited parking at Parkin zones, with 100,600 units sold in Q1 2026.
- Developer Parking Management Service Long-term managed parking operations for property developers and corporate facilities, including DAMAC (~3,600 spaces), Binghatti (~1,200 spaces), and DP World's Al Aweer Market (~3,000 spaces), integrated into the Parkin mobile app with barrierless technology.
- ParkIN Smart Parking Solution (Malaysia) Smart parking solution integrating license plate recognition, mobile payment, IoT, cloud computing, and big data analytics to provide seamless parking access without physical tickets, cards, or tokens, operated by ParkIN Technology Sdn Bhd in Malaysia.
Quantifiable outcome
- Q1 2026 revenue increased 41% year-on-year to Dh384.2 million
- +4 more outcomes
Companies that use Parkin
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Parkin technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability7 records
Feature4 records
Parkin partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and secondary.
- Secure Parking (SP Corporation Car Parking Management LLC)coreStrategic partnership to accelerate rollout of barrierless, camera-based smart parking infrastructure across Dubai and the UAE, following successful pilot at City Walk. Combines Parkin's digital platform and app capabilities with Secure Parking's global operational expertise spanning 1.2 million parking spaces across 13 countries. Aligns with UAE smart city vision.
- Binghatti Holding LtdcoreMulti-year agreement to operate approximately 1,200 parking spaces across selected residential developments in Jumeirah Village Circle, Al Jaddaf, and Business Bay. Integration into Parkin's mobile app with barrierless parking technologies. Roll-out expected toward end of Q2 2026 covering around 30 locations.
- DAMAC PropertiescoreFive-year agreement to manage about 3,600 parking spaces across Dubai and Abu Dhabi developments, expanding Parkin's developer parking segment.
- DP WorldcoreSmart parking system at Dubai's Al Aweer Central Fruit and Vegetable Market managing around 3,000 parking spaces using license plate recognition and real-time data to reduce congestion and optimize logistics at the largest fresh food hub.
- Dubai PolicecoreCollaboration to connect traffic systems with smart parking platforms, aiming for full digital integration and improved public services.
- InsuranceMarket.aesecondaryStrategic MoU at GITEX Global 2025 to integrate parking, valet, and insurance services into a single digital platform, enhancing customer experience through digital innovation and expanding Dubai's smart city mobility solutions.
- Dubai Taxi Company PJSCcoreStrategic partnership to develop sustainable urban mobility solutions including expanding EV charging stations, dedicated taxi parking, rest zones, and data sharing to optimize fleet operations and improve driver and passenger experience.
- Toyota Tsusho Connected Middle East (TTCME)corePartnership to develop smart parking and mobility solutions for Toyota and Lexus drivers in Dubai, integrating vehicle and parking systems to make parking quicker, easier, and more connected.
- Roads and Transport Authority (RTA)corePartnership to expand nol card use as multi-purpose payment system for parking, shopping, dining, and education payments. Also includes student ID and payment card for higher education students.
- CAFUsecondaryOn-demand fuel delivery and car wash services at parking facilities starting August 14, 2025. Service aims to enhance customer convenience, reduce traffic congestion, and support environmental goals. Integration via SMS, WhatsApp, and app.
- Dubai Electricity and Water Authority (DEWA)secondaryAgreement to install EV charging stations in prime parking locations, supporting Dubai's goal of 50% electric and hybrid vehicles by 2050.
Scale indicators11 records
Recent moves7 records
Expansion highlights7 records
Parkin competitors and assessment
Company assessmentBroad incumbents
- Flowbird (SWARCO): French-headquartered parking and mobility solutions provider acquired by SWARCO, with global deployments of pay stations, LPR, and mobile apps. Comparable to ParkIN as a broad incumbent covering on-street and off-street parking technology.
- T2 Systems: North American leader in parking management technology for universities, municipalities, and private operators. Comparable to ParkIN as an incumbent parking-software vendor competing for the same operator customers.
- SKIDATA (Kapsch TrafficCom): Global market leader in parking access and revenue control systems, part of Kapsch TrafficCom. Competes with ParkIN as a broad incumbent offering LPR, gates, and integrated parking management at scale across 100+ countries.
Regional players
- ParkHelp: Italy-headquartered parking guidance and sensor systems provider with strong European and LATAM presence. Comparable to ParkIN on the LPR/sensor-driven operator offering, though focused on European markets.
- Cale Access: Swedish provider of parking terminals, enforcement, and digital payment solutions for municipalities, primarily in Nordic and European markets. Comparable to ParkIN as a regional operator-facing tech vendor with LPR and mobile-payment capabilities.
Emerging players
- Park+: India-based smart-parking and connected-car solutions provider offering IoT-based parking management. Comparable to ParkIN as an emerging Asian player building integrated parking technology and adjacent mobility services.
Direct peers
- Smart Parking Limited: Australia/NZ-listed provider of smart parking technology including LPR, sensors, and management software. Closest direct comparable to ParkIN as a publicly-traded pure-play smart-parking technology vendor with overlapping LPR + mobile-payment architecture.
- Get My Parking: India-based smart-parking platform providing LPR, mobile payments, IoT, and cloud management for parking operators. Comparable to ParkIN on technology stack (LPR + IoT + cloud) and on target customer (parking operators) in an emerging Asian market.
- ParkBee: Netherlands-based digital parking platform combining on-street and off-street parking with mobile payments and operator dashboards. Comparable to ParkIN on the operator-facing SaaS-style model and mobile-payment-first architecture.
Others
- Parkopedia: Global parking data and software platform providing maps, availability data, and APIs to automakers and operators. Comparable to ParkIN as an adjacent data-and-software enabler in the smart-parking ecosystem rather than a direct hardware competitor.
Market position
Strengths3 records
Weaknesses4 records
Competitive moat6 records
Key risks5 records
Key highlights4 records
Customer concentration
Parkin social profiles
Digital presenceParkin financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parkin leadership team
Management profileNumber of profiles
Profiles3 records
Parkin funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parkin M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parkin
What does Parkin do?
Parkin Company PJSC operates as Dubai's exclusive public paid parking operator under an RTA concession, managing approximately 258,000 on-street, off-street, multi-storey, and developer parking spaces. Its core offering combines physical parking infrastructure with an AI-enabled camera system (license plate recognition), a gateless/paperless payment platform, and the Parkin mobile app that enables cashless, meterless parking fee processing, seasonal permit sales, and developer parking management contracts.
Is Parkin a public or private company?
Parkin is a public company. It is classified as public and is currently operating.
When was Parkin founded?
Parkin was founded in 2024. It employs 1 to 10 people.
Where is Parkin based?
Parkin is headquartered in Kuala Lumpur, Malaysia, in the Asia region.
How does Parkin make money?
Four revenue lines are on record. Public Parking Fees are the primary driver. The others are seasonal/Annual Parking Cards, developer Parking Management and ancillary Services.
Who are Parkin's main competitors?
Broad incumbents on record are Flowbird (SWARCO), T2 Systems and SKIDATA (Kapsch TrafficCom). Regional players are ParkHelp and Cale Access. Park+ is listed as an emerging player. Direct peers are Smart Parking Limited, Get My Parking and ParkBee. Parkopedia is listed as an others.
Does Parkin have an API?
No public API is recorded for Parkin.
What industry is Parkin in?
Parkin's product category is Public Parking Operations. Its primary akta.pro industry code is TLAJAIAE, Digital Payments & Enforcement for Parking (Mobile Pay, LPR/ANPR, Citation Mgmt), with a secondary code of BPABAKAB, Parking Management & Enforcement (Citations, Permits, Compliance). Its NAICS code is 812930 and its SIC code is 3822.