In a recent move, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has sanctioned Law No. (30) of 2023 to create 'Parkin,' a public

joint stock company (PJSC) exclusively managing parking operations across Dubai. Fully owned by the Government of Dubai, the corporation is set to oversee the planning, establishment, and management of both public and private parking spaces in the city.

Parkin's Duties and Responsibilities Under the new law, Parkin PJSC is entrusted with various tasks, including designing, operating, and overseeing public parking spaces in accordance with established regulations. Moreover, the company will issue permits to individuals for public parking subscriptions, usage, and reservation, governed by franchise contracts. Notably, all shares of the company are government-owned and will remain at no less than 60% in case of potential future public or private subscription.

Partnership with RTA Law No. (30) of 2023 mandates the Roads and Transport Authority (RTA) to delegate specific or all parking-related responsibilities, including permit issuance, to Parkin PJSC. This transfer of duties will be formalized through a franchise agreement between RTA and Parkin.

Parking Facilities in Dubai Dubai offers a mix of free and paid parking zones, with varying fees and time limits. The zones range from metered street parking to multi-story facilities, with different charges and timings. Paid parking in zones like A, B, C, D, E, G, H, I operates at different rates based on area and timing, payable via meters or digital methods.

Board of Directors and Implementation Executive Council Resolution No. (121) of 2023 has formed the Board of Directors of Parkin PJSC, led by Chairman Ahmed Hashem Bahrozyan and Vice Chairman Ahmed Hassan Mahboub. Other board members include Muna Abdulrahman Al Osaimi, Nasser Hamad Abu Shehab, Alawi Ali Al Sheikh, Mona Mohammad Bajman, and Al Anoud Thabit Al Ameri. The Board is entrusted with approving the company's strategic plans and policies, managing assets, validating contracts, and executing key administrative and financial decisions.

The law also outlines the Board's authority and responsibilities, effective immediately upon issuance and set to be published in the Official Gazette. This marks a significant step towards streamlining parking operations in Dubai under a centralized entity. Photo by Priyag, Wikimedia commons.