Parkin Company, Dubai’s largest provider of paid public parking facilities and services, reported strong operational and financial results for the third quarter ended 30 September 2025, marking another period of sustained growth and expansion across its portfolio.

Key Highlights (Q3 2025 vs. Q3 2024)

• Total revenues: Dhs343.3m (up 43 per cent)
• EBITDA: Dhs199.8m (up 36 per cent) with a 58 per cent margin
• Net profit: Dhs157m (up 50 per cent)
• Net addition: approximately 11,700 new parking spaces (up 6 per cent)
• Parking transactions: 34.1 million (up 0.4 per cent)
• Average public parking utilisation: 21.3 per cent (down 5.1 percentage points)
• Seasonal card sales: 81,000 (up 126 per cent)
• Full-year 2025 revenue guidance revised upward

Eng. Mohamed Abdulla Al Ali, CEO of Parkin, said: “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 per cent to Dhs343.3m, 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 per cent increase in EBITDA to Dhs199.8 million and a 50 per cent rise in net income to Dhs157m.

“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.”

Operational Performance

Parkin ended Q3 2025 with 219,000 active parking spaces, a 6 per cent rise from the previous year, supported by strong additions to its public and multi-storey portfolio. Public parking increased by 7 per cent to 192,100 spaces, while multi-storey capacity rose by 14 per cent following the reopening of Al Rigga MSCP.

Parking transactions totalled 34.1 million, driven by Dubai’s robust economic activity and rising population. Seasonal card purchases surged 126 per cent to 81,000, reflecting customer preference for cost-effective long-term options following the introduction of the variable tariff.

The company also issued 682,000 enforcement notices during the quarter, up 63 per cent year-on-year, supported by a growing smart inspection fleet and data-driven deployment strategies.

Financial Performance

Revenues reached a record Dhs343.3m, a 43 per cent increase compared to Q3 2024, led by growth in public parking, seasonal cards, and enforcement income. Public parking revenue rose 30 per cent to Dhs135m, while seasonal card and permit revenue climbed 57 per cent to Dhs59.9m. Enforcement revenue grew 59 per cent to Dhs103m.

EBITDA stood at Dhs199.8m, up 36 per cent, while net profit reached Dhs157m, a 50 per cent increase from the previous year. The company’s free cash flow to equity totalled Dhs433.4m, supported by a 99 per cent cash conversion rate.

Parkin’s net debt position was Dhs577.3m at the end of Q3 2025, with total available liquidity of Dhs654.8m, including an undrawn Dhs100m revolving credit facility.

With revenue guidance revised upward, Parkin remains on track for another record year, underpinned by strategic partnerships, technological enhancements, and continued portfolio expansion.

Amazon.ae has announced its six-day 11.11 sale event featuring millions of deals and faster delivery options, including 15-minute service on everyday essentials, as the e-commerce platform seeks to capitalise on one of the year’s biggest shopping periods in the Middle East.

The 11.11 sale will run from November 7 to 12, with early deals already live on the platform, Amazon said.

The event will span all product categories from electronics and fashion to groceries and home goods, with discounts reaching up to 60 per cent on select items.

Amazon Now, the company’s rapid delivery service, has seen daily orders grow 40 per cent month-over-month, with Prime members shopping twice as frequently since trying the 15-minute delivery option, according to Stefano Martinelli, VP of Amazon Middle East and North Africa.

“This 11.11 is set to be one of our biggest ones yet for customers, with even faster delivery options, exceptional value through Amazon Bazaar’s 10 dirham store, alongside millions of deals across the local and international brands they love,” Martinelli said.

Amazon 11.11 sale: Key highlights

The sale features delivery within minutes across most major areas in Dubai, Abu Dhabi, and Sharjah for everyday essentials, alongside two-hour delivery on thousands of products.

Amazon Now customers can save up to 50 per cent on their first three orders, with 20 per cent off subsequent orders.

Amazon Bazaar, the platform’s budget shopping section, will offer 50 per cent off all items using promotional code BZR50 during the sale period.

Key deals include up to 60 per cent off sports equipment from brands including Everlast, PROIRON and Adidas, timed to coincide with the Dubai Fitness Challenge running until November 30.

Beauty and personal care products from CeraVe, Cetaphil and Dyson will see discounts up to 50 per cent, while electronics from Samsung, Apple and Sony will be marked down up to 40 per cent.

The sale also features up to 50 per cent savings on household items including vacuum cleaners from Dyson and Shark, coffee machines from De’Longhi and Nespresso, and kitchen appliances from BLACK+DECKER and Philips.

Prime members can access exclusive savings throughout the sale, with free delivery on Amazon Now orders above Dhs25 ($6.81) and 2-hour delivery on orders above 100 dirhams. Monthly Prime membership costs Dhs16, or Dhs140 annually.

Amazon is offering additional payment incentives, including instant bank discounts up to 15 per cent for Mastercard and First Abu Dhabi Bank credit card holders, and interest-free installment plans through Tabby and Tamara payment services.

Customers purchasing Dhs400 e-gift cards will receive up to Dhs40 in promotional credit for 11.11 purchases, terms and conditions apply.

Read: Amazon’s Ronaldo Mouchawar on innovation, regional strategies and leadership

Etihad Airport Services (EAS), the Abu Dhabi-based aviation services company handling ground handling, cargo and logistics and security operations, has rebranded under a unified identity, Velora, the company announced on Thursday.

The move brings together multiple operational divisions — ground handling, cargo & logistics, and security services — under the Velora brand, a strategic step geared towards increased integration, improved efficiency and stronger customer focus.

Velora to unify services under one umbrella

Jubran AlBreiki, CEO of Velora, said: “The launch of Velora marks a significant milestone as we build on four decades of excellence established by Etihad Airport Services. By uniting our different services under one brand, we aim to enhance every journey for our guests and partners, set new benchmarks in operational excellence, and contribute to Abu Dhabi’s growth as a leading aviation hub.”

Velora will oversee daily operations across its business divisions and is backed by a workforce of more than 5,000 professionals.

The rebranding aligns with Abu Dhabi’s efforts to bolster its position as a global aviation centre, and comes as the local sector emphasises operational excellence and innovation in support of wider economic ambitions.

International Holding Company (IHC) reported a 32.3 per cent rise in revenue to Dhs84.6bn for the first nine months of 2025, driven by operational efficiency and a diversified investment portfolio, the Abu Dhabi-based conglomerate said on Wednesday.

Net profit increased 8.3 per cent year-on-year to Dhs19.5bn, while profit before tax rose 15.7 per cent to Dhs21.7bn.

Total assets climbed 15.0 per cent year-to-date to Dhs462.1bn, supported by organic growth and strategic acquisitions.

In the third quarter alone, IHC recorded revenue of Dhs29.9bn, up 34.6 per cent year-on-year, and profit after tax of Dhs8.7bn, a 53 per cent increase. Gross profit rose 46.7 per cent to Dhs7.5bn, lifting gross margin to 26.6 per cent.

Factors driving IHC growth

Growth was led by the real estate and construction segment, which generated Dhs34.1bn in revenue, up 50.4 per cent year-on-year, helped by Modon and Aldar’s strong pipeline.

Marine and dredging operations delivered Dhs21.6bn in revenue, up 11.1 per cent, while hospitality and leisure surged 65.4 per cent to Dhs7.3bn. Services and other segments added Dhs12.5bn, a 37.9 per cent rise.

IHC’s total equity increased to Dhs267.8bn, while cash and bank balances stood at Dhs56.9bn. Return on equity reached 11.0 per cent, and return on assets was 6.4 per cent.

“Our nine-month performance reflects the enduring strength of IHC’s diversified model and our disciplined focus on value creation across industries,” said CEO Syed Basar Shueb. “Through strategic portfolio management and efficient execution, we continue to deliver sustained growth, operational resilience, and long-term shareholder value.”

During the period, IHC completed several major transactions, including acquiring a 56.23 per cent stake in Alphamin Resources for Dhs1.35bn, a controlling stake in NCTH through Alpha Dhabi Holding, and a 69.33 per cent stake in Reem Finance.

The company also launched AI-native reinsurance platform RIQ with BlackRock and Lunate, backed by more than $1bn in equity.

Subsequent to the reporting period, IHC announced plans to merge its portfolio companies 2PointZero, Multiply Group, and Ghitha Holding into a single entity valued at about Dhs120bn, and sold its 42.54 per cent stake in Modon Holding to L’imad Holding in the UAE’s largest-ever market transaction.

IHC also expanded internationally, announcing a $1bn investment in India’s Sammaan Capital, the acquisition of Pakistan’s First Women Bank Limited under a G2G framework, and renewable energy projects in Africa.

The group’s subsidiaries achieved recognition for sustainability initiatives, including Aldar’s $290m green sukuk issuance and Emirates Driving Company’s MSCI AAA ESG rating.

With total assets above Dhs460bn and strong liquidity, IHC said it remains focused on disciplined capital deployment and continued expansion in 2025.

IHC denies Aldar sale rumour

In other news, IHC has also confirmed that it has no plans to sell its stake in Aldar Properties , reaffirming its long-term confidence in Abu Dhabi’s real estate sector.

The company, through its group entities, holds a majority stake in Aldar, which it described as a strategic, long-term investment within its diversified global portfolio.

“We remain committed to supporting Aldar as it continues to shape Abu Dhabi’s real estate landscape and drive sustainable development across the UAE,” said Shueb. The reaffirmation underscores IHC’s confidence in Abu Dhabi’s resilient property market and aligns with its focus on long-term value creation and national diversification goals.