In Parkin’s first expansion outside Dubai, the company will soon manage parking at the Aljada community in Sharjah, following the signing of a long-term agreement with Arada Developments LLC.
Under the agreement, the company will serve as the sole parking operator across the mixed-use project, encompassing on-street, off-street, and building parking facilities in residential, retail, and commercial areas.
In total, up to 9,900 parking spaces are expected to be rolled out in phases between 2026 and 2030. The on- and off-street component will account for around 3,500 spaces, with about 1,400 expected to be operational by the start of the third quarter of 2026.
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Building parking will make up an estimated 6,400 spaces, with around 400 spaces set to be ready by the end of the second quarter of 2026. The remaining spaces will be delivered gradually through to 2030.
Parkin said all locations will be integrated into its smart parking system, using camera-based entry and exit and automated payment through its wallet.
The company expects to invest between Dh8 million and Dh10 million over the life of the contract, with about Dh3 million planned for 2026. It added that the project is expected to generate between Dh40 million and Dh50 million in revenue over the 10-year term, assuming full rollout of the planned spaces.
“A key growth lever for Parkin is expanding our footprint beyond Dubai. This agreement allows us to bring our parking solutions to Sharjah for the first time,” said Mohamed Abdulla Al Ali, CEO of Parkin.
Ahmed Alkhoshaibi, Group CEO of Arada, said the partnership will support upcoming developments within Aljada, including retail and commercial projects.
Source: Khaleej Times