
A seven-story paid parking terminal has been announced for construction in Dubai. According to Emirati media, public parking operator “Parkin Company” revealed plans to build a barrier-free smart parking facility in the Al Sabkha area of Dubai. The facility will feature 350 parking spaces. To initiate this project, a Memorandum of Understanding (MoU) was signed with the Dubai Endowments and Minors Trust Foundation (Awqaf Dubai) for the development of the new multi-story car park in this bustling area, located near the busy Deira district.
In a statement, the company shared that the parking facility will cover an area of approximately 175,000 square feet, with an additional 9,600 square feet on the ground floor dedicated to retail spaces, generating extra revenue for Parkin. Over a period of 25 years, the project is expected to contribute AED 200 million to Awqaf Dubai.
Subject to planning approvals, construction is anticipated to commence in the second half of 2025, with an estimated completion time of around two years. As part of the agreement, Awqaf Dubai will finance the asset development, while Parkin will leverage its expertise to manage, operate, and maintain the barrier-free smart parking facility efficiently.