Dammam smart parking to generate cash for Batic in second half as $320mln project takes off

It is part of a broader push to develop so-called smart cities in the Kingdom

  
Underground parking lot parking space. Image used for illustrative purpose,

Underground parking lot parking space. Image used for illustrative purpose,

Getty Images
 
 

RIYADH: Batic Investment and Logistics Company said that its smart parking project in Dammam would start generating revenue from July 1.

It follows a deal struck in 2019 and worth SR1.2 billion ($320 million) to develop and operate smart car parks in Dammam, Dhahran and Al Khobar for 25 years.

It is part of a broader push to develop so-called smart cities in the Kingdom with major investments being channeled into technology aimed at improving the efficiency of municipal services.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Technology