The Dubai government is set to offer a 24.99% stake in Parkin, responsible for managing public parking operations in the emirate, through an initial public offering (IPO), marking Dubai’s first privatization deal of the year. Parkin oversees approximately 179,000 paid public parking spaces across Dubai, with an additional 18,000 spaces managed at developer-owned facilities. In 2023, Parkin reported a revenue of 779 million dirham ($212.1 million), marking a 14% increase from the previous year, with core profit rising by 23% to 414 million dirham. The Roads & Transport Authority (RTA) initiated the monetization of assets on behalf of the Dubai government as part of a broader privatization program aimed at listing state-linked companies and boosting the city’s exchange profile. Following successful previous deals, the IPO proceeds will benefit Parkin’s sole shareholder Dubai Investment Fund (DIF). The offering is set to commence on March 5, with Rothschild serving as the independent financial adviser, and Emirates NBD, Goldman Sachs, and HSBC acting as joint global coordinators and bookrunners.