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11 November, 2025
فن أبوظبي يستعرض أعمال الفنانين المشاركين في برنامج "تكليف الفنانين في المواقع الثقافية" لعام 2025
07 November, 2025
Embark on an Adventure this UAE Eid Al Etihad Day with a Fun-Filled Family Staycation at Centara Mirage Beach Resort Dubai
During the annual celebration of UAE national pride, three days of exciting entertainment, activities, and celebrations await at this vibrant family resort on Dubai Islands, from December 1st to 3rd
To make it even more special, guests can take advantage of the ‘Kids Hour is the New Happy Hour’ offer, turning the perfect family escape even sweeter with 20% off stays
Dubai, UAE (07 November 2025): Make this UAE Eid Al Etihad Day a celebration to remember at Centara Mirage Beach Resort Dubai, where families can look forward to three action-packed days of festivities by the beach. Expect themed games, interactive workshops, plenty of live entertainment, and family-focused fun at Camp Safari, with the resort crafting a full programme of activities that promises joy for every age. Topped off with its exclusive ‘Kids Hour is the New Happy Hour’ offer, it’s the perfect opportunity to treat your loved ones to a staycation filled with togetherness and adventure.
Nestled on the Dubai Islands waterfront, Centara Mirage Beach Resort Dubai is designed entirely with families in mind. Inspired by vibrant Thai and Arabian themes, the resort offers something for every member of the family, including thrilling waterslides, a lazy river, cliff-jumping points at the waterpark, dedicated kids’ clubs, a junior spa, and the relaxing Mirage Family Lounge. With spacious family-friendly rooms and a wide selection of dining options, it’s an unbeatable destination to mark the upcoming UAE National Day in style.
The celebrations kick off with a full day of fun for all ages on Monday, December 1st. Children can get creative at Camp Safari with UAE greeting card making, camel painting, and colourful paper chains, while the whole family can enjoy Aqua Fitness at the Family Pool. The lobby will be buzzing with cheerful hand and face painting, before the afternoon brings a lively musical surprise. As evening falls, little ones can dance the night away at the Kids Disco, followed by an enchanting cinema under the stars with Missing Link being shown on the big screen on the beach. The night concludes with a dazzling belly dance show at Sands Beach Club, setting the tone for an unforgettable week.
Tuesday brings a vibrant mix of creativity, fitness, and festive spirit, beginning at Camp Safari with UAE-coloured bracelets and UAE flag collage workshops, while adults and children alike can dive into Aqua Gym at the Leisure Pool. The lobby then once again comes alive with hand and face painting, before the highlight of the afternoon, the Eid Al Etihad Day Parade, takes over the Pre-Function Hall. Families can look forward to another musical surprise, followed by the Kids Disco in the evening, before the beachside cinema showcases Baby Boss 2 under the stars and a spectacular Bubble Show lights up the Pre-Function Area.
The celebrations continue with a glittery twist as Camp Safari hosts a keychain workshop and a lively Just Dance session, paired with Aqua Fitness at the Family Pool, to keep the energy high on Wednesday. Guests can stop by the lobby for playful hand and face painting before little hands get busy creating a camel collage. The fun ramps up with an exciting game of musical chairs and the much-loved Kids Disco in the evening. Families can then gather under the night sky to enjoy Alice Through the Looking Glass at the beach cinema, before wrapping up the day with a fascinating Science Show in the Pre-Function Area.
‘Kids’ Hour is the New Happy Hour’
Unlock another level of family fun with Centara Mirage Beach Resort Dubai’s “Kids’ Hour is the New Happy Hour” offer. Providing 20% off when you book at least 30 days in advance, this exclusive deal is designed for unforgettable family moments. The package includes daily breakfast for two adults and two kids under six, plus complimentary stays for children under six, ensuring a holiday that’s as rewarding as it is relaxing. With everything from action-packed activities to downtime by the beach, this is the perfect excuse to plan your next family getaway.
When: Available on all bookings for stays between now and December 20th, 2025
Offer: 20% off room rates when you book your stay at least 30 days in advance, inclusive of breakfast, for 2 adults and 2 kids up to 6 years old
*For booking and more information, click here
Terms & Conditions:
• Offer applicable to new bookings only.
• Room rate is subject to room availability.
• Breakfast is included free of charge.
• Offer cannot be used in conjunction with other promotions.
• All reservations must be guaranteed with a credit card that is valid throughout the entire stay.
• The full deposit is required 30 days prior to arrival.
• Free cancellation up to 30 days before arrival.
• For more information or further assistance with your booking, you may contact the reservation centre by email: cdd@chr.co.th
Centara Mirage Beach Resort Dubai is the ultimate family escape this UAE Eid Al Etihad Day. With a jam-packed programme of activities, world-class facilities, and offers tailored for families, it’s your chance to make the most of the holiday and create cherished memories by the sea. Book your stay now and experience the perfect mix of fun, relaxation, and togetherness.
UAE Participates in UNESCO’s 43rd General Conference
Led by H.E. Sheikh Salem bin Khalid Al Qassimi
- UAE elected Vice President of the UNESCO’s 43rd General Conference
- Emirati Poet Ahmed Bin Sulayem and United Arab Emirates University included in UNESCO’s 2026-2027 Anniversaries Programme
- UAE’s candidacy for membership of the UNESCO Executive Board for the period 2027 to 2031 announced
Abu Dhabi, November 7, 2025: The United Arab Emirates has been elected Vice President of the 43rd session of the General Conference of the United Nations Educational, Scientific and Cultural Organization (UNESCO), held in Samarkand, Uzbekistan, from 30 October to 13 November 2025, with the participation of representatives from 194 member states.
H.E. Sheikh Salem bin Khalid Al Qassimi, Minister of Culture and Chair of the UAE National Commission for Education, Culture and Science, led the UAE delegation at the conference, which included H.E. Ali Alhaj Al Ali, Permanent Delegate of the UAE to UNESCO; Ebtesam Al Zaabi, Acting Secretary-General of the UAE National Commission for Education, Culture and Science; alongside representatives from key national entities across the culture, education, and environment sectors.
During the conference, UNESCO announced the inclusion of the late Emirati poet Ahmed Bin Sulayem and the United Arab Emirates University in its 2026-2027 Anniversary Programme, which honours individuals and institutions that have made a profound impact on culture, education, science, and peace worldwide.
Global recognition of the UAE’s leading role
H.E. Sheikh Salem Al Qassimi affirmed that the UAE remains dedicated to advancing UNESCO’s mission for tangible impact, where investing in knowledge, cultural understanding, and scientific progress is essential to building a brighter future. In this spirit, H.E. announced the UAE’s candidacy for membership of the UNESCO Executive Board for the period 2027 to 2031, during the General Policy Debate of the Conference.
At the conference, His Excellency said: “In the UAE, we are committed to building peace through education, science, and culture. These pillars of UNESCO’s mandate form the foundation of the multilateralism our world urgently needs. Beyond the 2030 Agenda, our collective actions must be agile, and forward-looking to meet new challenges and seize emerging opportunities.”
H.E. also emphasized the importance of international cooperation in protecting cultural heritage. He referenced the UAE’s partnership with UNESCO in the “Revive the Spirit of Mosul” initiative as a blueprint for future post-conflict cooperation efforts. Noting that the UAE welcomes collaboration with Member States and partners to advance post-crisis cultural restoration, wherever it is at risk.
The Conference showcased the nation’s growing contributions in the fields of culture, heritage, and education. The UAE was also elected as Vice President of UNESCO’s 43rd General Conference underscoring the nation’s role as a trusted partner in cultural diplomacy. In addition, the UAE currently serves as Chair of the Arab Group of UNESCO.
Ahmed Bin Sulayem and United Arab Emirates University honoured in UNESCO’s Anniversaries Programme
UNESCO approved the inclusion of the late Emirati poet Ahmed Bin Sulayem, one of the most prominent figures in classical and Nabati poetry and a distinguished literary scholar in the UAE, and the United Arab Emirates University as part of its 2026-2027 Anniversaries Programme. These commemorations mark the 50th anniversary of the passing of Ahmed Bin Sulayem and the 50th anniversary of the founding of the United Arab Emirates University (1976), the nation’s first higher education institution.
The inclusion of Ahmed Bin Sulayem highlights his influential literary legacy, which helped shape the cultural and poetic landscape of the region during the first half of the 20th century. His works authentically document the identity, values and lived experiences of Emirati society.
Meanwhile, UNESCO’s recognition of the United Arab Emirates University celebrates its pioneering role in advancing higher education in the UAE and the region. Since its establishment in 1976, the university has contributed to developing national talent across diverse disciplines, supporting the UAE’s knowledge economy and sustainable development agenda. The UAEU today represents a model of multicultural education and academic excellence, bringing together students and faculty from around the world in a spirit of cultural coexistence and openness.
These inclusions highlight the UAE’s growing presence on the global cultural stage and reaffirm its commitment to celebrating and preserving its intellectual and creative contributions, in alignment with UNESCO’s mission.
Notably, in 2025, UNESCO also celebrated the centenary of the birth of the renowned Emirati poet Sultan bin Ali Al Owais.
د. ماجد الفياض في قمة مستقبل الصحة لمعهد ميلكن: رؤية السعودية 2030 تقود الجيل القادم من العلاجات المتقدمة
واشنطن، الولايات المتحدة: 5 نوفمبر
أكد معالي الرئيس التنفيذي لمستشفى الملك فيصل التخصصي ومركز الأبحاث، الدكتور ماجد الفياض، خلال مشاركته في قمة «مستقبل الصحة» الذي ينظمها معهد ميلكن في العاصمة الأمريكية واشنطن، أن التحول الذي يشهده القطاع الصحي في المملكة ضمن رؤية السعودية 2030 يرسّخ مكانتها كنموذج عالمي للأنظمة الصحية المرنة والمبنية على الابتكار، موضحًا أن هذا التحول يمتد إلى مجالات العلاج الجيني والخلايا الجذعية، حيث تتخذ المملكة خطوات جريئة نحو ترسيخ مكانتها كمركز رائد للعلاجات الحيوية المتقدمة.
وخلال الجلسة التي حملت عنوان "أطر جديدة للابتكار المرن في مجال العلاجات القائمة على تعديل الجينات"، أشار الدكتور الفياض إلى أن التقدّم الذي تحققه المملكة في مجال العلاج الجيني والخلايا الجذعية يجسّد التزامها بالابتكار المستدام واستعدادها لقيادة الجيل القادم من طب الجينوم، موضحًا أن العلاج بالخلايا التائية الذي طوّره التخصصي محليًا؛ أثبت فاعليته في علاج حالات متقدمة من السرطان، مع خفضٍ في التكلفة بنسبة 80٪، في خطوة تبرز كيف يمكن للتصنيع الحيوي المحلي أن يُحدث تحولًا جوهريًا في إمكانية الوصول إلى العلاجات وتكلفتها على مستوى المنطقة.
وبيّن الدكتور الفياض أن هذه الإنجازات النوعية تستند إلى بيئة تنظيمية محفّزة تقودها الهيئة العامة للغذاء والدواء، التي عملت على تسريع إجراءات الموافقات السريرية ومواءمتها مع المعايير الدولية، بما أتاح وصول المرضى إلى العلاجات المبتكرة بشكل أسرع، موضحًا أن التخصصي يقود ما يقارب نصف الدراسات السريرية النشطة في المملكة، مما يعزّز منظومة بحثية وطنية تترجم الاكتشافات العلمية إلى نتائج طبية ملموسة.
وأضاف أن التخصصي يستعد لتشغيل أول منشأة وطنية للتصنيع الحيوي ستسهم في تلبية 9٪ من الطلب الوطني على العلاجات الجينية والخلوية وتوفّر ما يُقدّر بثمانية مليار ريال بحلول عام 2030، والذي يأتي في إطار استثمار المملكة الاستراتيجي في توطين التقنيات الطبية وتحويل البحوث إلى تطبيقات سريرية وبناء بنية تحتية تدعم الشراكات العالمية في مجالي التقنية الحيوية والطب الدقيق.
واختتم معاليه بالتأكيد على أن ريادة المملكة في مجال التقنية الحيوية تستند إلى رؤية وطنية موحدة وإطار تنظيمي متين، وإلى تنمية الكفاءات العلمية السعودية القادرة على قيادة موجة الابتكار الصحي القادمة وترسيخ منظومة طبية قائمة على المعرفة والتميز.
يُذكر أن مستشفى الملك فيصل التخصصي ومركز الأبحاث صُنف الأول في الشرق الأوسط وأفريقيا، والـ 15 عالميًا ضمن قائمة أفضل 250 مؤسسة رعاية صحية أكاديمية حول العالم لعام 2025، والعلامة التجارية الصحية الأعلى قيمة في المملكة والشرق الأوسط، وذلك بحسب "براند فاينانس" لعام 2024، كما أُدرج ضمن قائمة نيوزويك لأفضل مستشفيات العالم لعام 2025، وأفضل المستشفيات الذكية لعام 2026، وأفضل المستشفيات التخصصية لعام 2026، في تأكيدٍ على مكانته الريادية كمحرك رئيسي للتحول الصحي والابتكار الحيوي في المملكة.
الاتحاد للطيران وخطوط هونغ كونغ الجوية تطلقان شراكتهما بالرمز وتوقعان على اتفاقية متبادلة لبرنامج الولاء
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Parkin Reports Record Quarterly Results, Reflecting Strong Operational Momentum
Parkin Company PJSC (“Parkin” or the “Company”), the largest provider of paid public parking facilities and services in Dubai, today reports its operational and financial results for the third quarter ended 30 September 2025. Key Takeaways: Q3 2025 vs. Q3 2024
Operational Highlights | |
Financial Highlights | |
n/m = not meaningful, n/a = data not available (1) Other consists of revenue generated from parking reservations, rental income from shop leases, mall management fees and finance income generated from cash deposits (2) For 9M 2024, capital expenditure includes the one-off up-front payment of the concession fee paid to the RTA in exchange for the 49-year concession (AED 1.1 billion) (3) Free cash flow to equity is defined as net cash flows generated from / used in operating activities + net cash generated from /used in investing activities + net cash flows from financing activities, excluding any proposed and unpaid dividend payments (4) Cash conversion is defined as EBITDA, less capital expenditure, divided by EBITDA and excludes the concession payment (AED 1.1 billion) | |
Eng. Mohamed Abdulla Al Ali, CEO of Parkin, commented: “We continued to execute our strategy with discipline and focus in Q3, delivering another strong set of financial and operational results. Total revenues rose 43% to AED 343.3 million, driven by the successful implementation of the variable parking tariff, expansion of our operational footprint, sustained transaction volumes, record seasonal card sales and robust enforcement proceeds. This strong performance translated into a 36% increase in EBITDA to AED 199.8 million and a 50% rise in net income to AED 157.0 million. Beyond the financial results, we advanced key strategic initiatives. During the quarter, we signed several contracts to grow our developer parking portfolio and partnered with CAFU to launch the region’s first on-demand fuel and car wash service across our parking network, a milestone that underscores our commitment to innovation and customer convenience. We expect these initiatives to contribute to our revenue growth in the coming quarters, reinforcing Parkin’s position as a leader in smart mobility solutions.” Q3 2025 Operational Performance Total Active Parking Spaces The total number of parking spaces as at the end of Q3 amounted to 219.0k, a 6% increase compared to Q3 2024 (207.3k). This growth was driven by additions to our public and multi-storey car parking portfolio, partially offset by a slight decline in developer spaces. Public Parking Public parking spaces increased by 12.5k (+7%), to 192.1k spaces in Q3 2025 (Q3 2024: 179.6k). In terms of new additions, zone C (on-street parking) saw the largest increase with 7.8k spaces added, while zone D (off-street parking) benefited from the addition of 4.6k new spaces. Between year-end 2024 and Q3 2025, a total of 8.1k new public parking spaces were added | |
Following the introduction of the variable parking tariff in Dubai from 4 April 2025, the Company’s public parking portfolio was reclassified into Standard Parking (112.4k spaces) and Premium Parking (79.7k spaces) categories. | |
Developer Parking On a net basis, developer parking spaces decreased by 1.3k (-5%) from 24.5k in Q3 2024 to 23.2k in Q3 2025. This reduction reflects the planned phase-out of some spaces at Al Sufouh, which were part of the Company’s portfolio in Q3 2024 but were removed by year-end. ______________________ | |
However, comparing the evolution of developer spaces between Q2 2025 and Q3 2025, 3.6k developer spaces were added in Q3 2025. | |
Multi-story Car Parking (MSCP) MSCP spaces increased by 0.4k (+14%) from 3.2k in Q3 2024 to 3.7k in Q3 2025. The newly refurbished Al Rigga MSCP re-opened in July 2025, restoring access to 440 spaces, equipped with advanced barrierless, ticketless access technology. Parking Transactions Transaction volumes in Q3 2025 were supported by continued demand for parking, driven by Dubai’s solid economic growth, ongoing population expansion and resilient tourism. Total public parking transaction volumes across the portfolio remained broadly flat year on year at 30.0 million in Q3 2025, (30.2m in Q3 2024) with an increasing number of customers opting to purchase a seasonal card to take advantage of the value-for-money offered by the unadjusted prices. Approximately 38% of all public parking transactions were during peak hours (Q3 2024: 43%). The developer parking segment recorded a 10% increase in transaction volumes, with 3.9 million parking transactions in Q3 2025 (Q3 2024: 3.6 million), notwithstanding the slightly lower number of spaces. The positive impact on transaction volumes is partly due to an increase in the developer parking utilisation rate. Approximately 43% of all public parking transactions were during peak hours (Q3 2024: 43%). Transactions from our MSCPs increased by 26% with 0.3 million parking transactions in Q3 2025 (Q3 2024: 0.2 million), primarily due to reopening of Al Rigga MSCP. Tariffs across the MSCP portfolio remained unchanged. Public Parking Utilisation From Q2 2025, following the introduction of the variable parking tariff in April, customers capitalised on the value-for-money proposition presented by the existing seasonal card prices, helping to drive a notable increase in public parking seasonal card purchases. As a result, overall public parking utilisation in Q3 2025 came in at 21.3% (Q3 2024: 26.4%), reflecting a partial shift from users who would normally purchase a daily pass (particularly in zones B and D), to customers opting to purchase a seasonal card. Consistent with Q2 2025, utilisation across zones B and D has experienced more of an impact when compared to zones A and C. When interpreting the Q3 2025 public-parking utilisation rate, it should be noted that customers purchased a record 81.0k seasonal cards during the quarter, a 126% increase compared to Q3 2024 (35.8k). The table below shows a detailed breakdown of public parking utilisation, split between peak and off-peak hours. | |
* When calculating utilisation for zones B and D, the hourly tariff is based on the premium or standard day rate, divided by 14 chargeable hours instead of the hourly rate. For zones A and C, utilisation is calculated using the weighted average tariff for each zone, factoring in peak and off-peak rates as well as the premium and standard parking split. Utilisation is calculated as actual revenue expressed as a percentage of maximum theoretical revenue. Maximum theoretical revenue = weighted hourly tariff x 14 chargeable hours per day x number of spaces in the zone x number of chargeable days in the quarter | |
The table below compares public parking utilisation, split between each of the public parking zones. | |
Public Parking Weighted Average Hourly Tariff The weighted average hourly tariff increased 51% to AED 3.03, following the introduction of the variable parking tariff in April 2025. As a result of the uplift in the daily parking tariff, zones B and D experienced a material increase in their weighted-average tariffs relative to zones A and C. Between Q2 and Q3 2025, the weighted-average tariff edged down slightly, from AED 3.04 to AED 3.03 due to the addition of new public parking spaces. | |
Seasonal Cards Sales Total seasonal card sales increased by 126% to 81.0k in Q3 2025 (Q3 2024: 35.8k). Growth was strong across all durations, with 1-month seasonal cards in particular recording the highest year-on-year increase. | |
The growth in seasonal card sales volumes is underpinned by customers taking advantage of the temporary price gap between the newly introduced variable daily tariffs effective April 2025 and the unadjusted rates for seasonal cards. The current cost of these seasonal cards represents a strong value proposition for frequent customers: | |
The Roads & Transport Authority has engaged third party expertise to examine the existing seasonal card framework, including pricing. Once the study is complete, the RTA may recommend adjustments to the seasonal card structure to address current pricing disparities and ensure better alignment with the variable pricing introduced earlier this year.
Enforcement The total number of enforcement notices issued by Parkin increased by 63%, from 418k in Q3 2024 to 682k in Q3 2025. This increase reflects higher customer activity, the expansion of our parking portfolio and the positive, ongoing impact of technology-based enhancements to our enforcement framework introduced in H2 2024. Additionally, the growth of our smart scan inspection fleet to 27 units from the end of 2024 played a material role. In February 2025, Parkin onboarded an equivalent number of trained drivers to operate these vehicles, enabling our dedicated inspectors to be redeployed either to field operations or supervisory roles. 82% of total enforcement notices in Q3 2025 (560k) were issued in relation to public parking violations (Q3 2024: 355k), an increase of 58% year-on-year. During Q3 2025, the Company’s field enforcement team scanned a total of 9.8 million vehicle registration plates, representing a 107% increase compared to Q3 2024 (4.7 million). In addition to the previously announced technology upgrades, this performance was driven by a data-driven reallocation of resources, with inspection teams redeployed to high-demand parking zones during peak hours to maximise enforcement coverage. Further gains were achieved during the summer months relative to the same period in 2024, supported by a new initiative focused on improving inspector mobility and wellbeing during extreme heat, ensuring continuous operations and consistent performance levels. In September 2025, 31 extra drivers were hired to operate our smart scan inspection vehicles. This allowed inspectors who previously operated these vehicles to transition into field and supervisory roles, which had the effect of increasing overall inspector capacity. During Q3 2025, the Company’s fleet of smart inspection cars scanned a total of 15.4 million vehicle registration plates, a 169% increase on the same period last year (Q3 2024: 5.7 million).
Q3 2025 Financial Performance
Total Revenue Total revenue increased by 43% to a quarterly record of AED 343.3 million (Q3 2024: 239.2 million), with notable year-on-year increases in revenue generated across all business segments, particularly public parking, seasonal card / permit fees and enforcement. As at Q3 2025, revenues from developer parking and enforcement, for which Parkin is exempt from concession fees, constituted 37% of total revenues (Q3 2024: 35%). Public parking revenue increased 30% to AED 135.0 million (Q3 2024: AED 103.7 million), supported by an increase in the weighted average hourly tariff to AED 3.03 (Q3 2024: AED 2.01) and an increase in the size of the public parking portfolio. Average revenue per public parking spot increased 21%, from AED 581 in Q3 2024 to AED 706 in Q3 2025. Revenue generated during peak hours amounted to AED 74.4 million (55% of total public parking revenue) in Q3 2025, compared to AED 49.1 million (47% of total public parking revenue) in Q3 2024. Developer parking revenue increased 28% to AED 23.5 million in the period (Q3 2024: AED 18.3 million), supported by stronger transaction volumes, improved utilisation and the application of the variable tariff in relation to c.6k developer spaces. Average revenue per developer parking space increased by 40%, from AED 758 in Q3 2024, to AED 1,062 in Q3 2025. Revenue from seasonal cards and permits in Q3 2025 increased 57% to AED 59.9 million, due to a record number of seasonal cards sold during the period (Q3 2024: 38.3 million). Enforcement revenue increased by 59% to AED 103.0 million in Q3 2025 (Q3 2024: AED64.9 million). The overall fine collection rate amounted to 86% during the quarter (Q3 2024: 85%). Concession Fee Expense As part of a 49-year concession agreement, Parkin pays the RTA a variable concession fee on all revenues, except those from enforcement and developer parking. Under the terms of the agreement, the overall concession fee is capped at 27.5%. The implementation of the variable parking tariff from April 2025 has resulted in a substantial change to the weighted average public parking tariff. Subject to ongoing discussions with the RTA, Parkin has provisioned for a blended concession rate of 27.1% in relation to the relevant concession revenue streams for Q2 and Q3 2025. Consequently, and in anticipation of concluding discussions with the RTA, a provision of AED 28.9 million has been recognised for Q2 and Q3 2025. This provision reflects the probable increase in the variable concession fee applied to the relevant revenue streams, based on the best estimate available at this time. In Q3 2025, the variable concession fee reached AED 61.0 million (Q3 2024: AED 30.2 million). The fee increase was driven by higher revenue generated by the Company’s core business segments, namely public parking (including MSCPs) and seasonal cards. Staff Costs In Q3 2025, employee benefits expense constituted AED 33.8 million, based on a total headcount of 354 staff, compared to AED 30.7 million and 326 staff as at the end of Q3 2024. Hiring will continue during 2025 as the Company concludes building up its internal capabilities. EBITDA EBITDA increased 36% in Q3 2025 to AED 199.8 million (Q3 2024: AED 146.8 million), representing an EBITDA margin of 58% (Q3 2024: 61%). The modest dip in EBITDA margin is largely attributable to higher concession fees, staff costs and some other expenses, including professional fees, advertising / marketing and IT. Net Profit Net income for the period increased 50% to AED 157.0 million (Q3 2024: 104.7 million). The growth in the bottom line was due to higher overall revenues, lower depreciation and financing costs, offset by higher taxes. Free Cash Flow and Cash Conversion By the end of Q3 2025, the Company had generated AED 433.4 million of Free Cash Flow to Equity (Q3 2024: AED 211.6 million). In addition to current receivables, the Company continues to focus on collecting receivables generated in prior periods and novated to Parkin. The cash conversion rate in Q3 2025 was 99%, due to Parkin’s strong revenue performance and capex light business model. Borrowings In Q1 2024, Parkin and Emirates NBD PJSC entered into an agreement for AED 1.2 billion in unsecured credit facilities, comprising of a 5-year Murabaha term financing facility of AED 1.1 billion and an AED 100 million Murabaha revolving credit facility. Both facilities carry a variable interest set at 3-month EIBOR plus a margin of 0.80% per annum. At the end of the Q3 2025, Parkin’s net debt position amounted to AED 577.3 million.(2) Including the Murabaha revolving credit facility, which remains fully undrawn, the Company has available liquidity of AED 654.8 million.(3) FY 2025 Outlook Full-year guidance was communicated to the market in February 2025. The guidance below incorporates an adjustment to enforcement revenue, underscoring continued operational strength. ___________________ (2) Q3 2025 Net Debt = Long-term Borrowings of AED 1,098.1m + Long-term Lease Liabilities of AED 21.1m + Short-term Lease Liabilities of AED 12.8m - Short-term bank deposits of AED 422.5m - Cash and Equivalents of AED 132.3m (3) Q3 2025 liquidity = Short-Term Bank Deposits of AED 422.5m + Cash and Equivalents of 132.3m + RCF of AED 100.0m
Public Parking Revenue The application of the variable pricing tariff to the Company’s public parking portfolio, will positively impact revenue. For FY 2025, it is anticipated that the public parking segment will generate revenue of between AED 520 – AED 550 million (FY 2024: AED 404.6 million).
Enforcement Revenue The continued effectiveness of Parkin’s enforcement framework is now anticipated to deliver annual enforcement revenue of between AED 360 – AED 390 million (FY 2024: AED 249.1 million), up from the previously guided range of AED 275 – 305 million. |