Parkin widens reach through Sharjah deal

Parkin has signed a long-term framework agreement with Arada to operate parking assets at Aljada in Sharjah, marking the Dubai-listed company’s first expansion into the emirate and a key step in its plan to grow beyond its home market.

The agreement appoints Parkin as the sole parking operator at Arada’s flagship mixed-use Aljada development, where up to 9,900 spaces will be brought into operation between 2026 and 2030. The portfolio will cover on-street, off-street and building parking across retail, commercial and residential zones, giving Parkin a foothold in one of Sharjah’s largest urban development projects.

Around 3,500 spaces will fall under the on-street and off-street component, with about 1,400 expected to go live by the beginning of the third quarter of 2026. A further 6,400 spaces will be located in buildings across Aljada, of which about 400 are scheduled to become operational by the end of the second quarter of 2026. The remaining capacity will be added in phases through to 2030 as the master development expands.

The deal brings Parkin’s smart parking system into Sharjah, with camera-based access and exit controls replacing conventional ticketing and barriers. Payments will be handled through auto-pay functionality linked to the Parkin wallet, allowing motorists to enter, park and leave without manual interaction at gates or machines. The approach is aimed at reducing queues, improving payment compliance and supporting real-time management of parking availability across a dense mixed-use district.

Parkin expects to invest about AED8 million to AED10 million over the life of the contract, mainly on camera-based technology and additional parking capacity. Capital spending is expected to be heaviest in 2026, at about AED3 million. The company estimates its cumulative revenue share from the 10-year contract at AED40 million to AED50 million, assuming the full rollout of about 9,900 spaces by 2030. The project is expected to be cash-flow positive over the contract period.

For Parkin, the agreement strengthens a diversification strategy that has become more important since its listing on the Dubai Financial Market. The company’s core business remains tied to its concession arrangement with Dubai’s Roads and Transport Authority, under which it operates paid public parking facilities and related services in Dubai. Expansion into privately developed communities and into other emirates allows the company to widen its revenue base while leveraging its existing technology platform.

Eng. Mohamed Abdulla Al Ali, chief executive of Parkin, said the company’s expansion beyond Dubai was a key growth lever and part of its investment case. He said the framework agreement with Arada would extend Parkin’s operations into Sharjah for the first time, adding that customers would benefit from camera-based access, automated payments and a more seamless parking experience.

Arada’s choice of Parkin also reflects the growing importance of mobility management in Gulf master developments, where large residential populations, shopping destinations, offices, schools, hotels and leisure venues are being combined in single districts. Parking is no longer treated as a stand-alone utility; it is increasingly linked to digital wallets, licence plate recognition, traffic management, customer analytics and enforcement systems.

Aljada, launched in 2017, is a 24 million square foot development in Sharjah’s Muwaileh district. The AED35 billion project is planned to include 25,000 homes, retail areas, hospitality assets, schools, healthcare facilities, a business park and leisure attractions. More than 7,600 homes had been handed over at the development by April 2025, with the resident population already exceeding 20,000. Further deliveries are planned across residential neighbourhoods and commercial districts.

Ahmed Alkhoshaibi, group chief executive of Arada, said the partnership was aligned with the developer’s plan to improve services for residents and visitors. He linked the parking rollout to Aljada’s next phase of activity, including the Arada Central Business District, Madar Mall, the Aljada sports complex and additional residential neighbourhoods scheduled to open over the next two years.