Law No. (30) of 2023, issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announces Parkin, a public joint stock company (PJSC) with managing parking spaces in Dubai. Parkin will be responsible for varied parking-related activities in Dubai.
Parkin will undertake creating, planning, designing, operating, and managing public parking spaces in alignment with applicable regulations. Furthermore, it holds the authority to issue permits, allowing individuals to subscribe to public parking, operate it, and reserve spaces based on franchise contract terms.
The company is also responsible for establishing, designing, and managing private parking spaces, in addition to engaging in related business activities. The law specifies that Dubai's Roads and Transport Authority (RTA) will delegate its responsibilities concerning public and private parking and permit issuance to Parkin. The transition of duties from RTA to Parkin will occur through a franchise agreement, facilitating the efficient execution of these responsibilities.
This groundbreaking initiative aligns with Dubai's commitment to enhancing urban infrastructure, ensuring effective management of parking resources, and streamlining regulatory processes for the benefit of residents and visitors alike.