Dubai’s Parkin, the leading provider of paid public parking facilities and services in the emirates, has signed an agreement with Dubai Sports City to manage parking at key locations within the community for a period of 10 years.
Parkin will create approximately 3,100 new parking spaces, consisting of three categories of parking infrastructure – paved, unpaved and unsurfaced.
Construction will begin in the fourth quarter of 2025, with completion anticipated by the end of 2026.
Parkin to manage Dubai Sports City parking spaces
Revenues over the 10-year contract’s lifetime are estimated to be between AED40 million and AED50 million (approximately US$10.9 million to US$13.6 million). The project is both accretive and cash flow positive, with a breakeven period of approximately four years.
The portfolio comprises paved and unpaved areas, as well as locations that necessitate full road construction. Parkin will be responsible for key civil works, including new road construction and converting unpaved areas into paved parking lots. The project’s capital expenditure (capex) cost is estimated to be between AED18 million and AED20 million (approximately US$4.9 million to US$5.45 million).
Since Parkin is funding the capital expenditure for the entire project and the revenue model has been structured to allow for the full recovery of the company’s up-front investment during the early years of the multi-year contract.
Starting this month, Parkin will commence light civil work related to the paved part of the portfolio (approximately 900 spaces). These works are expected to take up to eight weeks, after which the spaces will become fully operational and integrated into the company’s growing developer portfolio.
From January 2026, it will shift focus to development of the unpaved and unsurfaced parts of the portfolio (nearly 2,200 spaces).
Parkin will assume responsibility for maintaining these assets, including parking areas, roads and footpaths.
Parking tariff
In line with other parking assets operated by the company, the new portfolio will be chargeable Monday to Saturday, from 8:00am to 10:00pm. An hourly tariff of AED2 will apply, with a day rate of AED20. An annual seasonal card for AED2,800 is also being offered.
The tariff structure is for the first three years. Thereafter, it is subject to an upward revision as per the contract.
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