Collaboration to Enhance Paid Parking Services with Smart Technologies.
PC: Arabian Business
Dubai-based parking solutions provider Parkin is making a huge leap in the expansion of its operations into the international scene by entering the Saudi market. This follows a strategic partnership agreement with BATIC Investment and Logistics Company, a major Saudi-listed entity. This partnership is in line with the overall strategy for Parkin to expand its footprint globally and marks an important milestone in its business trajectory.
The deal will allow Parkin to take advantage of the extensive network of public parking managed by BATIC’s subsidiary, SCSC. Currently, SCSC is the country’s largest paid public parking provider as it is involved in leading efforts in managing urban mobility through a comprehensive parking proposition. This collaboration will be strengthening the paid parking services spread over domains such as municipality and real estate projects shopping malls, and hotels, etc.
The core focus of this collaboration is the digital transformation of parking systems. The innovations are expected to include the application of AI, digital gates, smart sensors, and high-definition cameras, making the parking process easier and reducing traffic congestion. Such advancements will revolutionize the way parking is managed by streamlining the process and increasing user-friendliness in keeping with the global movement toward smart city infrastructure.
BATIC’s vast experience in logistics, transportation, parking, and real estate makes it an ideal partner for Parkin’s expansion plans. The company currently manages a substantial portfolio of 195,000 parking spaces across five major cities in Saudi Arabia. Its well-established infrastructure and market knowledge provide a strong foundation for the success of this venture.
Parkin’s entry into the Saudi market is driven by its commitment to contributing to the kingdom’s ambitious urban development goals. This move is also aligned with the growing demand for efficient and innovative parking solutions. By collaborating with local partners, the company aims to support Saudi Arabia’s overarching vision of incorporating cutting-edge technologies to elevate urban living standards.
This strategic partnership is expected to deliver significant value to both parties involved. Parkin brings its extensive expertise in parking solutions, while BATIC leverages its strong local market presence and operational capabilities. By combining their strengths, they aim to create a seamless and technologically advanced parking ecosystem tailored to meet the evolving needs of both residents and businesses across Saudi Arabia.
