Parkin Signs MOU with BATIC to Explore Business Opportunities

Parkin, the largest provider of paid public parking facilities and services in Dubai on Mond announced that it has entered into a Memorandum of Understanding (MOU) with Saudi Arabia’s conglomerate BATIC Investment and Logistics Company (BATIC).

BATIC is 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, Parkin said in a regulatory filing with Dubai Financial Market (DFM) this morning.

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 was signed during a recent visit by Parkin’s CEO to BATIC’s headquarters in Riyadh, 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.

Exploring Opportunities

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.

Parkin CEO Mohamed Abdulla Al Ali said that as the largest public paid parking provider in the MENA region, the proposed technology driven partnership between BATIC and Parkin is a significant milestone, underscoring their market leading capabilities in the GCC, commitment to international growth outside the Dubai and shared vision to continue enhancing seamless mobility.

He added: “By combining our operational excellence, cutting-edge technology and industry know-how with BATIC’s strong presence, the partnership is poised to deliver innovative, scalable, customer-focused parking solutions that stand to benefit both residents and visitors to the Kingdom, supporting economic growth.”

BATIC Managing Director and Group CEO Mohammed Saud Alzamil said that this landmark partnership brings together two clear market leaders with complementary operations, technology and expertise. Collaborating with the pre-eminent parking operator in the UAE will enable his company to optimise the delivery of parking services across our asset base, reducing congestion, driving efficiencies and improving the overall customer journey.

With an extensive parking portfolio of 195,000 parking spaces across five cities, we will achieve greater mobility in the Kingdom, aligned to the aspirations of Saudi Vision 2030, Alzamil added.