Dubai - Mubasher: Parkin Company has signed a 10-year agreement to operate and manage around 3,100 new parking spaces within Dubai Sports City, according to a press release.

Initial works on 900 paved spaces will commence this October and are expected to become operational by December 2025.

Development of the remaining 2,200 spaces will start in January 2026 and is expected to be completed by the year-end.

The initiative, fully funded by Parkin, requires an estimated capital expenditure of between AED 18 million and AED 20 million.

Revenues from the contract are projected to range between AED 40 million and AED 50 million over the agreement period.

Construction for the whole project will begin in the fourth quarter (Q4) of 2025 and will be completed in Q4-26.

In February, Parkin joined forces with UITP to enhance global urban parking management.