Deal signed to explore smart city parking solutions across S. Arabia

Parkin Company (Parkin), the largest provider of paid public parking facilities and services in Dubai announces that it has entered into a Memorandum of Understanding (MoU) with BATIC Investment and Logistics Company (BATIC),

 a Saudi Arabian conglomerate listed on the Saudi Exchange (TADAWUL), with investments in logistics, transportation, parking, real estate, private and civil security services, cash solutions and facilities management.

The partnership aims to combine Parkin’s renowned operational capabilities with the extensive local public parking network managed by Smart City Solutions Co. (SCSC), a BATIC subsidiary and Saudi Arabia’s largest paid public parking provider.

The proposed collaboration will focus on the implementation of cutting-edge digital technologies to optimise traffic flow and enhance the end-user experience.

This MoU represents a key step in Parkin’s international growth strategy and aligns seamlessly with BATIC’s commitment to maintain market share while advancing smart city initiatives under Saudi Vision 2030.

The MoU, signed during a recent visit by Parkin’s CEO to BATIC’s headquarters in Riyadh, Saudi Arabia, provides a framework for Parkin and BATIC to evaluate potential synergies and explore a strategic partnership with a focus on SCSC.

The companies will assess opportunities to expand paid parking services in the Saudi market, collaborating with municipalities, real estate developers, operators of shopping centres, hotels, and other venues.

 The envisaged collaboration will prioritise the adoption of advanced digital technologies, including AI, real-time data analysis, digital gates, sensors and smart cameras to simplify parking, improve utilisation, reduce congestion and create a seamless parking experience for customers.

The agreement enables both parties to fully evaluate collaboration opportunities, identify synergies between Parkin’s operational expertise in Dubai and BATIC’s strong Saudi presence through SCSC, and to seek any legal or regulatory necessary approvals.