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Dubai’s Parkin is mulling expansion into the Saudi market following a deal with the Tadawul-listed BATIC Investment and Logistics Company (BATIC), which will allow the UAE-based parking provider to develop its services into the kingdom as part of its international growth strategy.
The deal will leverage the local public parking network managed by Smart City Solutions Co. (SCSC), a BATIC subsidiary and Saudi Arabia’s largest paid public parking provider, to expand paid parking services.
Areas in focus include Saudi municipalities, real estate developments, shopping centres and hotels.
The deal will also look at adopting digital technologies, including AI, digital gates, sensors and smart cameras to simplify parking and reduce congestion.
BATIC, which has investments in logistics, transportation, parking and real estate, operates 195,000 parking spaces across five cities in Saudi.
(Writing by Bindu Rai, editing by Brinda Darasha)
