Prime Highlights
- Parkin signs a deal to build a Smart Parking Ecosystem in Egypt, marking its first expansion outside the UAE.
- The Dubai-based firm partners with Modon Misr for Asset & Facility Management, Mwasalat Misr and Redcon Properties.
Key Facts
- Parkin is Dubai’s largest paid public parking provider and also runs operations in Sharjah and Abu Dhabi.
- The company’s profits climbed past $45 million as its UAE portfolio expanded to over 268,300 spaces.
Background
Parkin has signed a deal to build a Smart Parking Ecosystem in Egypt. It’s the Dubai-based company’s first expansion beyond the UAE. The move signals Parkin’s push to grow across the wider Middle East region.
Parkin currently runs the largest paid public parking network in Dubai and also operates in Sharjah and Abu Dhabi. The company’s profits have climbed past $45 million as its UAE portfolio grew to more than 268,300 parking spaces.
Parkin will partner with three companies under the deal: Modon Misr for Asset & Facility Management, Mwasalat Misr and Redcon Properties. Joint projects centered on parking management and mobility solutions are set to follow.
The partnership will also explore how Parkin’s operational and technological expertise can support smart parking, public parking and multi-storey car park projects across Egypt, covering areas like planning, parking policy and demand management.
Eng. Mohamed Abdulla Al Ali, Parkin’s CEO, called the deal a major milestone in the company’s regional growth. He said it opens a new market for Parkin’s operational and tech expertise while extending its reach in smart mobility.
Modon Misr for Asset & Facility Management is led by Mohamed Aboutaleb. He called the deal a blend of Parkin’s global experience and his firm’s understanding of the Egyptian market, saying it should pave the way for more efficient, connected communities nationwide.
