Parkin Strengthens Developer Parking Portfolio with Multi-Year Binghatti Agreement
Parkin Company PJSC, the leading provider of paid public parking services in Dubai, has announced a multi-year partnership with Binghatti Holding Ltd, one of the UAE’s prominent real estate developers. This collaboration aims to enhance parking solutions across several key developments in Dubai.
Agreement Overview
Under the newly established agreement, Parkin will manage approximately 1,200 parking spaces within selected Binghatti developments situated in Jumeirah Village Circle, Al Jaddaf, and Business Bay. This initiative is part of Parkin’s strategic plan to expand its footprint in the developer parking sector and increase its managed parking portfolio throughout Dubai. The financial implications of this agreement are not anticipated to significantly affect Parkin’s overall performance.
Technological Integration
The partnership will see parking access at these locations fully integrated into the Parkin mobile application. This integration will allow customers to manage all parking services through a single digital platform. Users will have the capability to book parking for both short and long-term durations, including the option to purchase seasonal parking cards.
This digital transformation is expected to enhance customer convenience and improve the overall user experience. It also presents a strategic opportunity to unlock value from existing and underutilized parking assets, thereby supporting efficient mobility for both residents and visitors.
Rollout Timeline and Implementation
The rollout of this initiative is projected to commence towards the end of the second quarter of 2026. It will involve the comprehensive integration of Parkin’s advanced parking technologies with Binghatti’s existing infrastructure. This integration aims to facilitate seamless vehicle entry, parking, and exit across approximately 30 locations.
Eng. Mohamed Abdulla Al Ali, CEO of Parkin, emphasized that this agreement marks a significant step in expanding the company’s developer parking portfolio. He noted the increasing demand for professionally managed, technology-enabled parking solutions in Dubai. By leveraging Parkin’s digital capabilities and operational expertise, the partnership aims to provide a seamless parking experience that enhances mobility.
Strategic Vision from Binghatti
Katralnada Binghatti, CEO of Binghatti Holding, highlighted the importance of this partnership in enhancing the resident and visitor experience. He stated that every aspect of the journey is an opportunity to deliver greater efficiency and long-term value. The collaboration with Parkin is set to introduce a smart, digitally enabled parking ecosystem that improves accessibility and daily mobility. Binghatti aims to elevate operational performance while contributing to Dubai’s vision of a more connected and efficient urban environment.
About Parkin Company PJSC
Parkin Company PJSC has established itself as the largest provider of paid public parking facilities and services in Dubai, with a portfolio of approximately 229,000 paid parking spaces as of the end of 2025. The company holds a dominant position in Dubai’s on and off-street paid public parking market, operating under a 49-year Concession Agreement with Dubai’s Roads and Transport Authority (RTA). This agreement grants Parkin exclusive rights to manage a portfolio of public parking spaces, including around 193,000 on and off-street spaces and 4,000 multi-storey car parking facilities.
In addition to its core operations, Parkin collaborates with various developers to manage parking facilities throughout the Emirate, contributing to approximately 32,000 spaces. The company also provides barrierless, ticketless parking solutions for Majid Al Futtaim across two malls. Its diverse revenue streams include enforcement, seasonal permits, parking reservations, and other commercial activities.
In 2025, Parkin’s customers conducted 141 million parking transactions, facilitated by state-of-the-art digital payment solutions and intelligent parking management systems that utilize artificial intelligence and big data analysis. Established in 1995 under the Dubai Municipality, parking operations transitioned to the RTA in 2005. Parkin Company PJSC was officially formed in December 2023 and successfully completed its initial public offering on the Dubai Financial Market in March 2024.
About Binghatti Holding Ltd
Founded in 2008, Binghatti Holding Ltd is a vertically integrated real estate developer that has evolved from a contracting firm to a full-scale development company. The group leverages in-house design, development, construction, and delivery capabilities, positioning itself as one of Dubai’s most dynamic private developers.
With a portfolio exceeding 90 projects valued at nearly AED 100 billion, Binghatti has successfully delivered over 50 developments and maintains a pipeline of approximately 30 million square feet of sellable area. The company operates across a wide market spectrum, from affordable housing to ultra-luxury branded residences, distinguishing itself through design-led products and operational agility.
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Published on 2026-04-14 13:25:00 • By the Editorial Desk
