Parkin Company signs a memorandum of understanding with BATEC Company with the aim of exploring cooperation opportunities in smart vehicle parking solutions across the Kingdom of Saudi Arabia

Parkin Company PJSC (“Parkin”), the largest provider of paid public parking in the Emirate of Dubai, has signed a memorandum of understanding with BATC Investment and Logistics Business Company (BATC), a Saudi group listed on the Saudi Stock Exchange (Tadawul), and has Investments in the areas of logistics, transportation, parking, real estate, private civil security services, cash solutions and facilities management.

Main Axes: The partnership aims to integrate Parkin’s famous operational capabilities with the vast local parking network managed by Smart City Solutions for Communications and Information Technology. (SCSC)It is a subsidiary of BATEC and the largest provider of paid parking in the Kingdom of Saudi Arabia.

• The collaboration will focus on implementing cutting-edge digital technologies to improve traffic flow and enhance user experience.

• The MoU represents a major step in Parkin’s international growth strategy, and is in line with BATEC’s commitment to maintaining its market share while advancing smart city initiatives within the framework of Saudi Vision 2030..

The memorandum of understanding was signed during a visit by Parkin’s CEO to BATEC’s headquarters in Riyadh, Saudi Arabia. The memorandum provides a framework for evaluating the opportunities available between Parkin and BATC to build a strategic partnership with a focus on the Smart City Solutions Company.

The two companies will evaluate opportunities to expand the provision of paid parking services in the Saudi market, in cooperation with municipalities, municipalities, real estate developers, operators of shopping centers, hotels, and other facilities. The proposed partnership will focus on adopting advanced digital technologies, including artificial intelligence, real-time data analysis, digital portals, sensors, and smart cameras, to simplify the parking process, improve usage, reduce congestion, and enhance a seamless parking experience for customers..

The memorandum enables both parties to fully evaluate cooperation opportunities, and identify aspects of complementarity between Parkin’s operational experience in Dubai and the strong presence of BATEC in Saudi Arabia through Smart City Solutions, in addition to obtaining any necessary legal or regulatory approvals..

In this regard, Mohammed Abdullah Al Ali, CEO of Parkin, said: “The proposed technology-driven partnership between Batek and Parkin represents an important stage, as it confirms our leadership capabilities in the Middle East and North Africa region, and our shared vision in developing and improving mobility. Through Combining our operational expertise, cutting-edge technologies, and industry knowledge along with the strength of BATEC, this partnership is able to deliver innovative, scalable, customer-focused solutions that will benefit residents and visitors in the Kingdom, supporting economic growth.“

For his part, Engineer Mohammed bin Saud Al Zamil, Managing Director and CEO of BATEC Group, said: “This important partnership brings together two of the most prominent operators in the region, with complementary processes, technologies and expertise. It will enable us to cooperate with the most prominent parking operator in our sister country, the United Arab Emirates.” United to improve the delivery of parking services across our portfolio of assets, helping reduce congestion, increase efficiency, and improve the overall customer experience. With an extensive parking portfolio of 195,000 parking spaces across five cities, we will contribute to… Enhancing mobility in the Kingdom in line with the aspirations of Saudi Vision 2030“.