“Parkin” signs a memorandum of understanding with “Batek” to expand in Saudi Arabia

Parkin signed a memorandum of understanding with BATC Investment and Logistics Company (BATC), a Saudi group listed on the Saudi Stock Exchange (Tadawul), which has investments in the fields of logistics, transportation, parking, real estate, private civil security services, cash solutions, and facility management.

A statement issued yesterday stated that this partnership aims to integrate the operational capabilities of “Parkin” with the vast local parking network managed by Smart City Solutions for Communications and Information Technology (SCSC), a subsidiary of “BATC” and the largest provider of paid vehicle parking in Saudi Arabia. .

The cooperation will focus on implementing advanced digital technologies to improve traffic flow and enhance user experience.

The memorandum was signed during a visit by the CEO of Parkin, Mohammed Abdullah Al Ali, to the headquarters of Batek in Riyadh. The memorandum provides a framework for evaluating the opportunities available between Parkin and Batek to build a strategic partnership with a focus on company solutions. Smart cities.

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, and digital portals.

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

Al Ali said: “The proposed technology-driven partnership between (BATC) and (Parkin) constitutes 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 by integrating our operational expertise, advanced technologies, and industrial knowledge.” In addition to the strength of the company (BATC).”