Dubai’s newest public joint stock company, Parkin, now officially has a CEO, according to a statement released on Tuesday.
Parkin’s Chairman, Ahmed Hashem Bahrozyan, announced that Mohamed Al Ali, a veteran of the Dubai Roads and Transport Authority (RTA), is Parkin’s new CEO.
The move to appoint Ali comes after Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, late last year established Parkin as a PJSC, followed by the appointment of members of the Board of Directors.
Ahmed Hashem Bahrozyan, Chairman of Parkin, said: “Today marks a momentous occasion as we appoint the first CEO of Parkin, a demonstrated leader with a clear vision for the future of the company underpinned by a commitment to innovation and excellence. We are confident that this step will lead the company towards new horizons full of success and progress.”
Ali has over two decades of experience in the public transport space.
He joined the Roads and Transport Authority (RTA) in 2007 having led several departments within the organisation over sixteen years, including the building, strategic planning and buses divisions. He played a major role in leading the operational team for the transportation and traffic management system that hosted the Expo 2020 event, as well as heading the operating team that provided passenger transportation services during the COP28 Conference. Prior to this, he gained experience for over six years in e& within its construction and building segments.
He holds a Master’s Degree in Engineering Management and a Bachelor’s Degree in Civil Engineering from the American University of Sharjah. He is also a member of the International Transport Organization (UITP), heading the organisation’s Mobility Working Group in the Middle East and North Africa.
Parkin is set to focus on creating, planning, designing, operating and managing public parking spaces in Dubai. In this regard, will take over many of the parking responsibilities that previously fell under the ambit of the RTA.
Parkin will further have financial, administrative and legal autonomy to fulfil its responsibilities for 99 years, beginning from the date of its registration.
The Dubai government is set to always own at least 60 per cent of Parkin’s capital, while public and private subscriptions in share sales could become available in future as well. It’s currently unclear, at this stage, whether Parkin will follow in the footsteps of the likes of Dubai Taxi and undergo an initial public offering at some point in the near future.