Latest news with #variablepricing
Khaleej Times
07-07-2025
- Automotive
- Khaleej Times
Dubai: Parkin announces new 24/7 paid zone at Al Khail Gate
Parkin announced a new paid parking zone, located at Al Khail Gate. Called Zone 365N, the rate is Dh30 per day. It is a paid zone for all hours of the day, and all throughout the week, including Sundays. Here is a breakdown of per hour charges during peak hours: 1 hour: Dh4 2 hours: Dh8 3 hours: Dh10 4 hours: Dh12 5 hours: Dh14 6 hours: Dh16 7 hours: Dh18 8 hours: Dh20 9 hours: Dh22 24 hours: Dh30 Here is a breakdown of per hour charges during off-peak hours (no change): 1 hour: Dh4 2 hours: Dh8 3 hours: Dh10 4 hours: Dh12 5 hours: Dh14 6 hours: Dh16 7 hours: Dh18 8 hours: Dh20 9 hours: Dh22 24 hours: Dh30 Earlier this year, Dubai's largest provider of paid public parking facilities announced two new zones in Mirdif, which are free on Sundays and public holidays. These zones implement variable parking fees. Variable pricing was implemented by Parkin in April, and applies different charges based on peak and off-peak hours.
Khaleej Times
27-05-2025
- Business
- Khaleej Times
Salik revenue soars over Dh750 million in Q1 2025 from variable rates, new toll gates, fines
The introduction of variable pricing, two new toll gates, and revenues from fines all contributed to a robust Q1 2025 performance by Salik PJSC, Dubai's exclusive toll gate operator. The company on Tuesday announced it registered Dh751.6 million total revenue from January to March this year for 33.7 per cent YoY (year on year) growth. Its net profit after taxes also surged by 33.7 per cent to Dh370.6 million in the first three months of 2025. Salik's total chargeable trips reached 158 million, following the introduction of variable pricing at the end of January 2025 and the launch of the two new toll gates in November 2024. Of this, the chargeable trips during the peak period (when the toll gate fee is Dh6) totaled 39.3 million trips, and 107.5 million during the off-peak period (Dh4). Between 1am and 6am, when Salik is free, the trips registered 11.2 million in Q1 2025. Revenue from fines increased 16.2 per cent year on year to Dh68.4 million in the first quarter. The number of net violations (accepted minus dismissed violations) grew by 15 per cent in Q1 2025, reaching around 786,000. The revenue from fines contributed 9.1 per cent to total revenue in Q1 2025. Salik also registered strong growth from its ancillary revenue streams. The total revenue from Salik's parking partnerships with Emaar Malls and Parkonic reached Dh2.8 million in Q1 2025. Revenue from tag activation fees grew 17.4 per cent to Dh11.5 million. 'Profitability is robust' 'We've entered 2025 with strong momentum, with our core tolling business continuing to thrive, bolstered by the opening of two new toll gates in late 2024,' said Salik CEO Ibrahim Sultan Al Haddad in a statement sent to Khaleej Times, adding: 'We have also maintained progress in our ancillary revenue streams, with both the Dubai Mall and Parkonic parking partnerships seeing good traction with users in the first quarter. 'Total chargeable trips, accounting for the new variable pricing, reached 158 million, with total revenue growth exceeding 30 per cent. Profitability is also robust,' Al Haddad continued, noting EBITDA (earnings before interest, taxes, depreciation, and amortisation) growth of more than 35 per cent, With a healthy first quarter, Al Haddad said the total revenue guidance for the full year remains unchanged, and is expected to grow by 28 to 29 per cent, including the contribution of the two new toll gates, 'while tapping new opportunities.' Mattar Al Tayer, chairman of the Board of Directors of Salik, added: 'Our exceptional Q1 performance reflects a continued focus on delivering long-term value to shareholders and our ambition to become a global leader in providing smart and sustainable mobility solutions. We expect total revenue to grow 28 to 29 per cent by the end of 2024 driven by the launch of operations in geographies outside of Dubai and the exploration of new partnerships to further enhance user experience and support both short and long-term earnings growth.' Salik introduced variable pricing on January 31 'aimed at enhancing traffic flow across Dubai's road networks.' The two new toll gates, Business Bay and Al Safa South, meanwhile, have been in operation since November 24, 2024. Salik has also been operating a barrier-less parking system at Dubai Mall since July 1, 2024. The toll operator also collaborated with Parkonic for a five-year contract, during which Parkonic will integrate Salik's e-wallet into the 107+ locations it operates and any future locations it may operate in the UAE. The agreement also marks the first time Salik has expanded its service offering outside of Dubai. Salik is also in the process of launching customised tags to allow corporate customers to personalise Salik tags with unique designs and messages.
