Batic signs MoU with Parkin to explore strategic partnership

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The MoU focuses on merging Parkin’s operational capabilities with the extensive local parking network managed by SCSC, the Kingdom’s largest paid parking provider.

The proposed collaboration will focus on the implementation of digital technologies to optimize traffic flow and enhance the end-user experience, the statement noted, adding that the MoU represents a key step in Parkin's international growth strategy and aligns with Batic’s commitment to maintain market share while advancing smart city initiatives under Saudi Vision 2030.

The companies will assess opportunities to expand paid parking services in the Saudi market, collaborating with municipalities, real estate developers, operators of shopping centers, hotels, and other venues.

The proposed partnership will prioritize the adoption of advanced digital technologies, including artificial intelligence, real-time data analytics, digital gateways, sensors, and smart cameras, to streamline the parking process, improve utilization, reduce congestion, and enhance the customer experience for seamless vehicle parking.

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 seek any necessary legal or regulatory approvals following due diligence.

The two-year MoU has no related parties, the statement said.