Parkin Company PJSC - PARKIN

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Parkin Company PJSC is a pioneer in parking solutions based in Dubai. In December 2023, Parkin Company was established through the issuance of Law No. 30 of 2023. On 27 February 2024, Parkin announced its intention to list on the Dubai Financial Market (DFM). 749,700,000 shares in Parkin, each with a nominal value of AED 0.02, were made available in the offering, representing 24.99% of Parkin's total issued share capital. Dubai's parking operations were initially established in 1995 under Dubai Municipality and later became part of the Road and Transport Authority (RTA) in 2005. Parkin holds the exclusive position as the paid public parking operator in Dubai, with a natural dominant presence in the city's parking market. The company operates technologically advanced and digitally enabled parking facilities at strategic locations across Dubai, providing a superior customer experience. Parkin's mandate is protected by a comprehensive Concession Agreement with the RTA. The agreement grants Parkin exclusive rights to operate all of the RTA's existing and new paid public parking facilities, including on-street, off-street, and multistorey car parking. The concession period spans 49 years, starting in 2024. Parkin aims to provide seamless, sustainable, and innovative mobility solutions that align with Dubai's ambitious growth plans. With nearly three decades of experience, Parkin has evolved from managing 1,000 parking spaces in 1995 to approximately 197,000 paid parking spaces across the Emirate today. In summary, Parkin Company PJSC plays a crucial role in Dubai's transport ecosystem, ensuring efficient parking services for residents and visitors alike. As the city continues to grow, Parkin remains committed to enhancing its vision and contributing to Dubai's status as one of the most vibrant and dynamic cities globally.