Saudi Arabia's Riyadh Municipality has invited expressions of interest (EOI) for a car park construction and management project to be implemented in Al Olaya District, a major commercial and retail hub in Riyadh, under a public-private partnership (PPP) scheme.

The Municipality said in a press statement on Monday that the project would be developed in partnership with the private sector under a profit-sharing Build - Operate - Transfer (BOT) model and is the first privatisation project to be launched in the municipal sector.

It said the project site is located between Urubah Road to the North, Makkah Al Mukarramah Road to the South, Olaya Road to the East and King Fahd Road to the West.

The project, according to the National Centre for Privatisation & PPP (NCP), envisages:

  • Improvement, operations and maintenance of existing potential on-street parking spaces.
  • Developing new multi-storeyed off-street parking facilities, which will include areas for commercial developments.
  • Introduce technology-oriented parking management, payment services, and control enforcement mechanisms.
  • Decrease traffic congestion, reduce illegal parking, and minimise loss of time spent commuting to find a parking space.
  • Optimise monetisation of Municipal land use

NCP said the project includes 4,174 existing on-street spaces, and 2,529 new multi-storeyed off-street parking spaces at 13 plots owned by the Municipality.

It said 25 percent of the off-street parking built-up area would be allocated for commercial developments.

The EOI documents are available on the websites of Riyadh Municipality, the Riyadh Municipality statement said, adding that final date for submitting EOI is August 3, 2020.

Last month, Zawya Projects had reported that Saudi firm Batic Investments and Logistics Company (BATIC) and China's Huawei have signed a pact to implement a $320 million multi-city smart car park project in the eastern region of the kingdom.

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

#SaudiArabia #RiyadhMunicipality #Construction

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