Dubai Launches "Parkin" Company for Parking Management

The media office of the Dubai government announced today, Wednesday, that "the emirate has issued a law to establish a public joint-stock company named 'Parkin', which will oversee operations related to parking spaces in the emirate." The media office stated in a statement: "The share of the Dubai government in the company will not be less than 60 percent in case it is listed on the stock exchange." The law grants the Roads and Transport Authority of Dubai the right to transfer some or all of its responsibilities related to public and private parking to the new company.