Parking demand seen to reach SAR 3B in next 3 years: Batic CEO

Mohammed Al-Zamil, CEO of Batic Investments and Logistics Co., said preliminary studies show that the expected demand for parking services in Saudi Arabia over the next three years would range between SAR 2.5 to SAR 3 billion.

The tourism and entertainment sector is experiencing significant growth, reflecting an increase in opportunities for parking services, especially with the launch of the Riyadh Metro, which will be surrounded by public parking facilities for passengers, Al-Zamil told Asharq News.

He pointed out that the company's subsidiary, Smart Cities Solutions Co. (SCSC), currently manages 195,000 parking spaces across five major cities, Al-Khobar, Dhahran, Dammam, Qassim, and Riyadh, as part of the Riyadh Parking Project.

Regarding the memorandum of understanding (MoU) with Parkin, Al-Zamil said Parkin is the largest provider of public parking services in Dubai, with over 30 years of experience.

The goal is to combine the expertise of both companies, the CEO said, highlighting the efforts to build strong strategic partnerships to expand locally and internationally and explore opportunities in the Saudi market in collaboration with city operators, shopping centers, and festivals.

Batic signed, on Dec. 15, a MoU with Dubai-listed Parkin to evaluate potential synergies and explore a strategic partnership with SCSC, according to data available with Argaam.