00:00 The book was a great contribution to the market performance.
00:06 We have seen the book's sales of 155 times to all the social sectors.
00:11 We are standing on the future plans of Barkin with the President of the Board of Directors, Mr. Ahmed Barzian.
00:18 Welcome, Mr. Ahmed.
00:20 Thank you.
00:21 We have a different meeting this time. We are talking about Barkin.
00:23 Congratulations on the first step in the financial market in Dubai and the book's sales.
00:27 You also contributed to the book's sales in the first minutes.
00:30 What about the investment plan?
00:32 Thank you for the invitation.
00:35 This is the beginning of a new history for Barkin.
00:38 The book has sold more than 165 times.
00:43 This shows that investors have confidence in the company's investment plan.
00:50 It also shows that investors believe in the economic and financial growth of Dubai.
00:58 We are an important part of the Dubai's infrastructure.
01:02 The growth of Dubai's infrastructure through the plans of Dubai's D33, Dubai's Urban 2040 and Dubai's Economic 2030
01:10 shows that the company's growth is continuing.
01:12 With the growth of Dubai's infrastructure, the company's growth is also continuing.
01:17 The numbers were clear in the book's publication.
01:20 The expected growth of the population is 40% until 2040.
01:23 The growth of the number of cars is 4%.
01:26 The demand for jobs is 4.8% until 2033.
01:31 But the growth of demand for jobs in the current year is not expected.
01:36 As you mentioned, in the next 10 years, the expected growth of jobs in Dubai's infrastructure is 60%.
01:45 This reflects the growth of Barkin.
01:49 As we can see, Dubai is flourishing.
01:52 There is an increase in the number of cars and the construction of the Emirate.
01:57 All of this creates opportunities for Barkin.
02:00 As Barkin has the right to manage all the paid positions in Dubai's Emirate.
02:11 There is also a plan to deal with investors and developers in Dubai's Emirate.
02:16 Also, the positions of the developers' companies.
02:20 So, the growth is on two levels.
02:22 On the level of the positions that are subject to the government of Dubai,
02:25 and also on the level of the positions of the developers.
02:28 As you mentioned, we have agreements with seven developers.
02:32 In the current year, who can we talk to?
02:34 How many agreements can be signed with developers?
02:38 As we mentioned, we are focusing on the growth of the Dubai's Emirate with the positions that are subject to the government.
02:44 But, without mentioning names, there are negotiations and agreements with many developers in Dubai's Emirate.
02:55 Hopefully, they will be announced later.
02:58 But, this year and the following years.
03:01 Regarding the positions, Mr. Ahmed, we have the following positions.
03:06 There is an intention to increase the number of positions in specific times, specific days, and specific areas to 12,000 positions.
03:13 After obtaining approval from the Road Authority and the RTA in Dubai.
03:17 When do we expect to get approval?
03:20 Will these increases be made gradually?
03:23 What is planned regarding the increases?
03:26 Currently, there are 600,000 positions in Dubai's Emirate, between paid and free.
03:31 Of these, about 197,000 positions are paid.
03:35 As we mentioned, the demand for positions is increasing.
03:38 We expect that the increase will be 60% over the next 10 years, and about 84% every year.
03:44 At the moment, according to the agreement between the Road Authority and Parkin,
03:49 the decision to remove the positions is with the Road Authority, and therefore, it needs the implementation of the Council in Dubai's Emirate.
03:59 Parkin is studying and providing the Road Authority with some suggestions.
04:04 But, the final decision is with the Road Authority.
04:07 But, as we mentioned, we expect that there will be an increase in the number of positions in Dubai's Emirate,
04:12 whether paid or free.
04:14 This increase will benefit the company in general, because it will be managed by us.
04:18 As we mentioned, there will be agreements with the developers, because there are new areas that are subject to the plans.
04:25 The developers will also follow these areas, and we hope that Parkin will be in the process of discussing them.
04:30 Let's talk about the positions and places.
04:33 We are talking about more than 390,000 positions.
04:36 The plans are not included.
04:39 What is the plan to include some of these positions?
04:43 The decision to include free positions and paid positions is with the Road Authority.
04:49 Parkin is participating in these decisions through suggestions that are presented to the Road Authority.
04:54 But, the final decision is with the Road Authority.
04:56 These decisions are strategic decisions, and they depend on many things,
05:01 such as the age of the area, the scope of the application compared to the offer.
05:06 All these things will decide whether the areas are paid or free.
05:13 But, as we mentioned, the decision is with the Road Authority.
05:16 We have the exclusive power to manage the positions.
05:19 As we mentioned, the growth is expected in the Emirate of Dubai in the coming years.
05:25 This growth will continue, and with the growth of the Emirate of Dubai, it will also be a growth for Parkin.
05:30 Mr. Ahmed, the addition of other activities, i.e. commercial activities, may be added in the coming period.
05:35 Also, to what extent are you trying to transfer the experience to other geographical areas,
05:40 whether inside the Emirates or outside it?
05:42 Of course, the existence of the positions in the Road Authority has undergone many developments in recent years.
05:49 But, now, we are dedicating them to Parkin.
05:52 The intention is to have more development in this field,
05:55 through the company's investment in advanced technology and artificial intelligence,
05:59 and to improve the experience of the employees and the level of operational efficiency of the company.
06:05 This experience will start in the Emirate of Dubai, of course,
06:08 because, as we mentioned, the growth in the Emirate of Dubai is not even when we focus on the Emirates where we are.
06:12 But, of course, there are plans to expand outside the Emirate of Dubai,
06:15 and it may also be at the regional level in the coming period.
06:18 Our main goal is to lead the future management of positions at the global level.
06:25 How long will the plans last? For example, will they be available outside the Emirates in the current year, 2025-2026?
06:30 How long will these plans last?
06:33 These plans will be announced later.
06:35 But, as we mentioned, our focus in the coming period will be in the Emirate of Dubai,
06:39 in the positions of the government and the advanced people.
06:42 And, at the right time, with the right opportunities, God willing,
06:46 there will be announcements about investments in places outside the Emirate.
06:49 Mr. Ahmed, the rate of cash transfers is very high in the company.
06:53 We are talking about 99% during the past year.
06:56 And also, the capital expenditures are low compared to other companies.
07:00 To what extent do you expect the company's performance this year in terms of revenues to increase?
07:05 We saw that it rose in the year 2022-2023 and recorded approximately 779 million DIR.
07:12 As we mentioned, the company's right to excel means that it does not invest in capital investments.
07:19 These investments are at the end of the transportation routes.
07:21 This, of course, helped the company's success story.
07:25 And the evidence of the growth and the rise of the share in these first moments
07:30 is that there is a great confidence among investors in the company's financial performance in the near future
07:35 and even on the medium and long term, God willing.
