The public joint stock business Parkin, which is in charge of running and maintaining public parking lots in Dubai, announced on Tuesday that it is considering extending its offerings to privately held projects, such as airports, retail centres, and other busy places. A 49-year concession arrangement with RTA allows Parkin, which was established as a PJSC in January of this year, to oversee and run "all existing and new public parking facilities in Dubai."
Parkin has seven agreements with private developers to handle over 18,000 parking spots, "with significant potential for expansion in existing and developing areas," in addition to the nearly 179,000 paid public parking spaces it already administers.
Ninety percent of Parkin transactions take place online. It provides six ways to pay: SMS, AppClip (a QR code), WhatsApp, parking metres, RTA App, seasonal parking cards, and AppClip. Cash, Nol, debit, and credit cards, as well as ApplePay, may all be used to pay for parking. Digital monitoring and smart parking inspection scan autos are also provided by Parkin. Additionally, it is embracing paperless and fully digital fine notice and payment. In order to assess parking availability for EV (electric vehicle) clients and People of Determination, Parkin also employs AI technologies.
Additionally, there is a clear procedure in place to shield Parkin from the effects of inflation in the future, which calls for the Company to formally request a tariff adjustment every two years in order to account for the overall impact of inflation.
The Executive Council of Dubai retains the right to provide approval for any proposed tariff modifications as long as they guarantee investment protection, social goals alignment, and customer fairness.
