PROJECTS: Saudi Arabia's BATIC announces its fourth smart parking concession in the kingdom

Saudi Arabia's Batic Investments and Logistics Company (BATIC) announced on Tuesday that its subsidiary SCSC [Smart City Solutions Company] signed a 422-million Saudi riyal ($113 million) investment agreement with the Qassim Region Municipality for a Smart Parking Project in the Downtown Area of Buraydah.

 

The company said in a stock exchange statement that SCSC will develop and operate the project for a period of 25 years.

 

The scope of the project, according to the statement, includes rental, development, operation, and maintenance of 8,000 parking spaces, including multiple hydraulic parking lots across 26 roads and streets, 18 [parking] yards, and land designated for parking within the central area of Buraydah city. The contract also involves the operation of part of the Al-Sabbakh Road.

 

In September 2019, a BATIC subsidiary had signed contracts to develop and operate smart parking projects in Al Khobar, Dhahran, and Dammam for 25 years at a total investment of 1.2 billion riyals ($320 million). The company aims to operate 19,078 parking spaces in the three cities upon the completion of these projects.

 

In June 2021, BATIC had announced that the first phase of smart parking project was already launched in Khobar, while work is underway for Dhahran and Dammam projects.

 

The company is also part of a consortium bidding to qualify for a car parking public-private partnership project in Riyadh's Olaya commercial district.