Parkin Company PJSCm the largest provider of paid public parking facilities and services in Dubai, announces that it has entered into a Memorandum of Understanding (“MoU”) with the Dubai Endowments and Minors’ Trust Foundation (“AWQAF Dubai”), the Dubai endowment authority, for the development of a new multi-storey car park (“MSCP”).
As part of a collaborative public-private partnership, Parkin has entered into an MoU with AWQAF Dubai to fund the construction of a new barrierless MSCP in Al Sabkha, Dubai
Parkin will oversee project implementation, operation and management
Development could commence as soon as H2 2025, subject to planning consent
Over a 25-year period, it is expected that the venture will generate AED 200 million for AWQAF Dubai
New Multi-Storey Parking Facility in Dubai’s Al Sabkha District
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