Dubai-based Parkin Company PJSC, the largest provider of paid public parking services in Dubai, has signed a Memorandum of Understanding (MoU) with BATIC Investment and Logistics Company, a prominent Saudi Arabian conglomerate listed on the Saudi Exchange (TADAWUL).
This strategic partnership aims to combine Parkin’s operational excellence with BATIC’s extensive parking network through its subsidiary, Smart City Solutions Co. (SCSC), Saudi Arabia’s largest paid public parking provider.
The MoU, signed during a recent visit by Parkin’s CEO to BATIC’s headquarters in Riyadh, focuses on utilizing cutting-edge digital technologies to improve traffic flow and enhance the customer parking experience. Both companies are committed to exploring opportunities to expand paid parking services across Saudi Arabia, collaborating with municipalities, real estate developers, and operators of major venues like shopping centers and hotels.
The collaboration will emphasize the adoption of advanced technologies such as AI, real-time data analysis, digital gates, sensors, and smart cameras. These innovations are designed to simplify parking, reduce congestion, and optimize space utilization, aligning with the goals of Saudi Vision 2030 to promote smart city initiatives and sustainable urban development.
Eng. Mohamed Abdulla Al Ali, CEO of Parkin, expressed enthusiasm for the partnership, highlighting its potential to deliver scalable, technology-driven parking solutions. Eng. Mohammed Alzamil, Managing Director and CEO of BATIC, emphasized the complementary strengths of both companies in driving greater mobility and supporting economic growth in the Kingdom.
The MoU marks a significant step in Parkin’s international expansion strategy and is poised to create a seamless parking experience for both residents and visitors in Saudi Arabia.
News Source: Dubai Media Office
