Dubai, UAE — November 12, 2024: Parking fines issued in Dubai reached a total of Dh64.9 million during the third quarter of 2024, representing a significant 56 percent rise compared to Dh41.6 million during the same period in 2023, according to a report released by Parkin Company on Tuesday.
The report revealed that a total of 418,100 fines were issued in Q3, an increase of 48 percent from 282,800 fines in the same quarter last year. This surge in fines contributed to a 26 percent year-on-year rise in the total value of fines for the first nine months of 2024, reaching Dh172.1 million, up from Dh136.5 million in 2023.
Expansion of Smart Inspection Fleet
The rise in fines is partly attributed to improvements in the efficiency and accuracy of the parking enforcement system. In the third quarter, Parkin enhanced its fleet of smart inspection cars, which are equipped with technology to scan vehicle registration plates and issue fines for violations. By the end of Q3, the fleet had scanned 5.7 million vehicle plates, a 47 percent increase from the previous year.
Parkin also announced plans to deploy 24 additional smart cars by the end of the year to further enhance its parking inspection capabilities. The increased number of inspections, combined with upgrades to the software on handheld devices used by inspectors, contributed to a 57 percent rise in scanned vehicle plates during Q3, reaching 4.7 million compared to 3 million in Q3 2023.
The new software has streamlined the inspection process, reducing the manual component and speeding up inspections. This, in turn, has increased the accuracy of fines issued, while also reducing errors.
Growth in Parking Spaces and Operational Efficiency
The total number of parking spaces in Dubai increased to 207,300 by the end of Q3 2024, reflecting a 6 percent rise from the same period last year. Despite a reduction in private developer spaces in the Al Sufouh area, the net increase amounted to approximately 4,300 spaces.
Parkin’s operational enhancements and expanded fleet have led to a 5 percent increase in net profit, which rose to Dh104.7 million in Q3 2024, compared to Dh99.8 million in the same period last year.
Future Outlook
Ahmed Bahrozyan, Chairman of Parkin, highlighted the company’s readiness to seize future market opportunities, driven by Dubai’s expanding population, rising car ownership, and continued investment in the city’s transport infrastructure. “With our cutting-edge technology and operational excellence, Parkin is well-positioned to support Dubai’s growing demand for parking and mobility solutions,” he said.
Mohamed Al Ali, CEO of Parkin, added that the company is focused on delivering sustainable growth, with continued improvements in its enforcement framework and parking services. “We are committed to providing innovative, seamless mobility solutions that support Dubai’s economic growth and development ambitions,” he said.
