Parkin renews exclusive deal to run 2,800 JLT parking spaces for 10 more years
By Catherine Smith GST 2 min read
Parkin Company PJSC will continue to run paid parking in Jumeirah Lakes Towers (JLT) for another 10 years after renewing its Parking Management Framework Agreement with the Dubai Multi Commodities Centre (DMCC). The renewal was announced through the Government of Dubai Media Office on 21 October 2026.
Under the agreement, Parkin, which describes itself as the largest provider of paid public parking facilities and services in Dubai, takes exclusive responsibility for managing and operating approximately 2,800 paid parking spaces across JLT. That total includes 250 designated motorcycle parking spaces.
What it means for JLT drivers
Parkin will oversee day-to-day parking operations in JLT, including parking payments through its digital and physical channels. As part of the agreement, the company will also install solar power infrastructure.
The agreement is a renewal rather than a change of operator, and the announcement does not set out any change to parking tariffs, zones or hours in JLT.
Paul Ashton, Chief Property Officer of DMCC, said: “Through investment in technology-led parking solutions, we aim to make parking more seamless, convenient and efficient for residents, businesses and visitors alike.” He added that the agreement “creates opportunities to introduce innovative solutions that bring greater value to the community”. The announcement does not detail what those will be.
Eng. Mohamed Abdulla Al Ali, Chief Executive Officer of Parkin Company PJSC, said: “As one of Dubai’s most dynamic mixed-use communities, JLT remains an important part of our portfolio, and we look forward to building on our established operations to further enhance the parking experience for residents, businesses and visitors.”
Why developer contracts matter to Parkin
The JLT agreement sits in what Parkin calls its developer parking portfolio, which it reports separately from the public parking spaces it adds in cooperation with Dubai’s Roads and Transport Authority (RTA). The announcement said the partnership “marks another milestone in Parkin’s continued expansion of its developer parking portfolio”.
In its second quarter 2026 results, filed with the Dubai Financial Market on 13 August 2026 and reported by WAM on 14 August 2026, Parkin said its developer parking portfolio had more than tripled through several strategic partnerships.
| Parkin, second quarter | 2026 | 2025 |
|---|---|---|
| Developer parking spaces | 61,500 spaces | 19,600 spaces |
| Developer parking transactions | 6.6 million | 3.8 million |
| Total parking portfolio (all types) | 268,300 spaces | 211,500 spaces |
Developer parking revenue rose 61% to AED 35.8 million in the quarter. Public parking spaces rose to 203,200 from 188,700 a year earlier.
For the full year 2026, the company expects developer parking revenue of AED 130 million to AED 150 million, against public parking revenue of AED 510 million to AED 550 million.
In the same results, Parkin reported that public parking transactions declined to 27.2 million from 29.2 million, while developer parking transactions rose 75%. Al Ali said growth in the quarter was driven by “our seasonal cards, developer parking and enforcement segments, offsetting softer public parking demand during the quarter.”
