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Parkin Company, the largest provider of paid public parking facilities in Dubai, has entered into a memorandum of understanding (MoU) with BATIC Investment and Logistics Company, a Saudi Arabian conglomerate listed on the Saudi Exchange.
The partnership, which aligns with both companies’ growth ambitions, aims to reshape parking infrastructure in Saudi Arabia, integrating advanced digital technologies to enhance efficiency, ease of access, and customer experience.
Under the terms of the MoU, the two companies will explore opportunities to combine Parkin’s renowned operational expertise with Smart City Solutions Co (SCSC), a BATIC subsidiary and the largest paid public parking provider in Saudi Arabia.
Technology-driven solutions
The collaboration will focus on implementing cutting-edge digital technologies to improve traffic flow, simplify parking processes, and enhance the overall user experience.
Key components of the project include AI-driven systems, real-time data analytics, digital gates, smart sensors, and smart cameras – all designed to optimise parking space utilisation, reduce congestion, and streamline operations.
The partnership is strategically aligned with Saudi Vision 2030, which aims to modernise the kingdom’s infrastructure and promote the adoption of smart city solutions.
By leveraging technology, the partnership will also look to collaborate with municipalities, real estate developers, shopping centres, hotels, and other commercial venues to expand paid parking services across Saudi Arabia.
Strategic growth and synergy in the GCC
Engineer Mohamed Abdulla Al Ali, CEO of Parkin, highlighted the significance of the MoU for both companies and their long-term regional growth.
He stated: “As the largest public paid parking provider in the MENA region, this proposed technology-driven partnership with BATIC is a major milestone. It underscores our market-leading capabilities in the GCC and aligns with our commitment to international growth beyond Dubai. By combining our operational excellence, cutting-edge technology, and industry expertise with BATIC’s strong Saudi presence, we are poised to deliver scalable, customer-centric parking solutions that will benefit residents and visitors alike, supporting economic growth in the kingdom.”
Eye on Saudi’s expanding parking market
The partnership is poised to tap into a growing demand for efficient, tech-enabled parking solutions across Saudi Arabia.
With an existing portfolio of 195,000 parking spaces across five cities, BATIC, through its subsidiary SCSC, manages one of the most extensive parking networks in the kingdom.
This sizeable footprint, combined with Parkin’s expertise, offers a compelling opportunity to transform Saudi Arabia’s parking landscape.
Engineer Mohammed Alzamil, MD and group CEO of BATIC, also expressed his enthusiasm for the strategic partnership. He said: “This landmark partnership brings together two market leaders with complementary operations, technology, and expertise. Collaborating with the pre-eminent parking operator in the UAE enables us to optimise the delivery of parking services across our extensive asset base. By reducing congestion, driving efficiencies, and improving the overall customer journey, we are committed to achieving greater mobility in Saudi Arabia, fully aligned with the aspirations of Saudi Vision 2030.”
Smart city initiatives and economic growth
With both companies committed to supporting Saudi Arabia’s vision of becoming a global leader in smart city innovation, the partnership’s impact will be far-reaching. The use of technology not only promises to improve the efficiency of parking services but will also contribute to easing traffic congestion in major urban centres, enhancing the overall quality of life for Saudi residents and visitors.
Parkin’s move into the Saudi market further solidifies its position as a regional leader in parking solutions, with the company’s expertise in Dubai paving the way for broader GCC expansion.
Regulatory approvals
The MoU sets the stage for both companies to assess potential collaboration opportunities, including exploring synergies between Parkin’s operations in Dubai and SCSC’s extensive network in Saudi Arabia. The agreement also provides a framework for seeking any necessary legal and regulatory approvals for the partnership to proceed.
Read: This is how much you’ll pay for parking in Dubai from March 2025
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