Dubai: In mid-February, the company requested that the Roads and Transport Authority (RTA) approve adjustments to raise the weighted-average public parking tariff. The proposal also includes revisions to seasonal card pricing and structure to narrow pricing gaps that have emerged since the introduction of variable tariffs last year.

Officials confirmed that the RTA has received the submission and will conduct a detailed review before referring the matter to Dubai’s Executive Council for final guidance and approval. Any decision on tariff changes will depend on the outcome of this regulatory process.

The proposed revisions come amid a notable shift in customer behaviour. Following the increase in daily tariffs in April 2025, many frequent users opted for seasonal cards, benefiting from a pricing gap between hourly rates and long-term permits.

This trend led to record-breaking sales of seasonal cards, which surged 140 per cent in the final quarter of last year, reaching more than 89,000 units. However, the shift also affected utilisation metrics, as seasonal cardholders are not included in hourly occupancy figures.

Parkin said the changes are intended to reduce price arbitrage while ensuring long-term value for regular users. The company maintained that fairness remains a priority and that long-term discounts would continue under the revised structure.

The tariff proposal coincides with robust financial results for Parkin in 2025. The company reported record quarterly and annual performance, with fourth-quarter revenue rising 47 per cent to Dh389.4 million. Net profit climbed 53 per cent to Dh183.6 million during the same period.

Eng. Mohamed Abdulla Al Ali, CEO of Parkin, said the company closed 2025 on a strong note, converting disciplined execution into higher earnings. He highlighted record seasonal card sales and noted that customers continued to recognise the relative value offered by the product.

He added that the earlier rollout of variable tariffs and investments in smart enforcement technology significantly contributed to performance growth.

During the year, Parkin expanded its footprint by 11 per cent, increasing total parking spaces to approximately 229,000 across public, developer and multi-storey facilities. Developer parking saw substantial growth following multiple contracts signed in the second half of 2025.

Technology also played a critical role in driving operational efficiency. Smart inspection vehicles scanned more than 17 million licence plates in the fourth quarter alone, contributing to a sharp increase in enforcement notices and related revenue.

Management guidance for 2026 currently excludes any potential financial impact from the proposed tariff adjustments.