Dubai’s largest provider of paid public parking facilities and services, Parkin, has announced that its management team is currently engaged in advanced discussions with the Roads and Transport Authority (RTA) to finalize pending details regarding the implementation of dynamic pricing tariffs, scheduled to take effect in early April 2025.
In addition, Parkin has released its operational and financial results for the fourth quarter and full fiscal year ending December 31, 2024. The company reported a 13% increase in net profit, reaching AED 120 million, compared to AED 106.2 million in the fourth quarter of 2023.
Flexible Parking Tariff System
Parkin has also revealed the mechanisms for calculating parking fees under its new dynamic pricing model, as outlined in the accompanying schedule:
1. Dynamic Pricing Classification
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Approximately 65% of the company's public parking portfolio, which includes 184,000 parking spaces, will be categorized as standard parking.
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Peak-hour pricing will apply to standard parking zones A to D for six hours daily within the 14-hour paid parking period, specifically during:
- 8:00 AM – 10:00 AM
- 4:00 PM – 8:00 PM
- (Excluding Sundays and public holidays)
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Meanwhile, 35% of the company’s public parking spaces will be classified as premium parking under the new system.
The flexible pricing model aims to optimize parking availability and efficiency, ensuring a smoother experience for drivers across Dubai.
