Batic begins trial run of Dammam smart parking project; full operations to start July 1

Logo of Batic Investments and Logistics Co.

Batic Investments and Logistics Co. (BATIC) announced that Smart Cities Solutions Company for Telecom and Information Technology, which is 40% owned by Arabian Security & Safety Services Co. Ltd. (AMNCO) - a Batic subsidiary - started the trial run for the first phase of the smart parking project in Dammam.

Batic said in a bourse statement that the actual operations, along with parking fees, will begin on July 1, 2021, and are expected to impact the group’s revenues in H2 2021.

The company aims to operate 19,078 parking spaces in Dammam, Khobar, and Dhahran, upon the completion of the project.

The trial phase comes as the continuation of the technical and structural preparations, in coordination with Dammam’s sub-municipalities and the Secretariat of the Eastern region, the statement said.

The company targets 7,634 parking spaces in Dammam once the project is complete.

The first phase of smart parking was already launched in Khobar, while work is underway for the project in Dhahran. The company aims to reach 11,444 parking spaces in Khobar and Dhahran.

The projects – multi-floor car parks and smart parking lots - are considered to be the largest in terms of services and solutions for public parking in the Kingdom. They include multiple payment methods and are considered one of the basic building blocks of smart cities, in line with the plans of secretariats, municipalities and the Vision 2030.

The projects also conform to Batic’s strategy to increase local investment, including the implementation and management of smart cities through advanced technical solutions. Eastern Province is the first of its projects, which include enabling national cadres and localization of manufacturing.

The company is currently working to complete the procedures for implementing an agreement on the sale and purchase of shares between Batic (buyer) and Smart Parking Holding Co. (seller).

An agreement on this was signed by Batic managing director Mohammed bin Saud Al-Zamil and Smart Parking Holding chairman Alwaleed Bin Khalid Almogbel, to acquire 35.8% of Smart Cities Solutions Co.

In September 2019, Batic said that the Smart Cities Solutions Co. signed two contracts to establish, develop, invest and operate multi-story parking lots with the Ministry of Municipal, Rural Affairs and Housing. The contracts worth SAR 1.24 billion were for a term of 25 years, Argaam reported.