The only company in Dubai managing public parking lots, Parkin Company, saw an 8% rise in sales during the first three months of the year. The company said on Thursday that the demand for developer parking, the issuance of seasonal permits, and an increase in public parking revenue were the driving forces behind this.
Still, this does not account for the unusual weather that the United Arab Emirates experienced in mid-April. It is anticipated that the second quarter’s revenues will be impacted by Dh4 million due to the service interruption caused by the heavy rains.
Parkin’s total revenue from January to March was Dh215.3 million. Because more parking tickets were issued during the period, revenue from public parking increased by 11% to Dh99.3 million. Specifically, zones C and D experienced increased usage even with the addition of new parking spots.
The revenue generated from seasonal cards and permits increased by 17% to Dh36.9 million as a result of a higher volume of sales, especially in the 0–3-month validity bracket. Due to higher ticket volumes, developer parking revenue increased by 13% during that period to Dh16.6 million.
Fine revenue rose by 1% to Dh52.6 million over the course of the period, with continued effective enforcement.
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