Parkin, the company set up by Dubai to oversee parking operations in the emirate, has teamed up with conglomerate Majid Al Futtaim to introduce barrier-free parking systems at three malls, as it seeks to expand outside its core public operations.
The systems will be implemented at Mall of the Emirates in Al Barsha, City Centre Deira and City Centre Mirdif by January 1, 2025, under a five-year contract, Parkin said on Wednesday in a regulatory filing to the Dubai Financial Market, where its shares trade.
Parking fees at the malls will remain unchanged. The move is aimed at supporting the infrastructure for the estimated 20 million annual vehicle that park across about 21,000 parking spaces at the three malls, the company said.
The new smart systems are aimed at reducing congestion and enabling “smooth” traffic flow, “enhancing the overall customer experience at some of the busiest and well-known retail locations in Dubai”, Mohamed Al Ali, chief executive of Parkin, said.
“This strategically important agreement … underscores our ability to deliver growth outside of our core public parking market,” he said, adding that Parkin will continue to explore “attractive” partnership opportunities.
Parkin is the largest provider of paid public parking facilities and services in Dubai, operating about 200,000 paid parking spaces. The company's other revenue streams include enforcement and issuance of seasonal permits, parking reservations and other commercial activities.
The company started trading on the DFM in March, surging 30 per cent on its debut. As part of the emirate’s critical infrastructure, Parkin is central to Dubai’s growth plans, and its IPO is among a strategy of growing the emirate's financial market to Dh3 trillion ($816.8 billion).
Shares of the company have nearly doubled to date, and were up more than 2 per cent at Dh4.07 at midday trading on Wednesday.
As part of the new parking system, visitors at the three malls will no longer need to wait at the barriers when entering or exiting mall car parks. Cameras will automatically capture licence plates, tracking each vehicle’s progress and duration of stay, Parkin said.
Customers will be informed about parking costs upon entry by SMS or via Parkin’s mobile app. Parking charges can be made through Parkin’s app or its website, the statement said.
The new parking system is “one of the many smart solutions that we will introduce at our malls”, said Khalifa bin Braik, chief executive of Majid Al Futtaim's asset management unit.
Majid Al Futtaim currently owns and operates 29 shopping malls across the Middle East and Africa region.
Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
UAE Premiership
Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes
Fixture
Friday, March 29, Abu Dhabi Harlequins v Jebel Ali Dragons, The Sevens, Dubai
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Honeymoonish
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Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Racecard
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Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
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4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
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6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
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Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
