Agreement signing ceremony


Batic Investments and Logistics Co.'s subsidiary, Smart Cities Solutions Co., signed a SAR 422 million contract with Qassim Amanah for a smart parking project in the downtown area of Buraidah for a period of 25 years, according to Saudi Press Agency.

 

Prince Faisal bin Mishaal bin Saud, Governor of the Qassim Region, said that this investment project is aimed to enhance the quality of life and improve the urban landscape of Buraidah City, by providing a modern regulatory environment for the downtown area, by implementing multi-storey car parks, in addition to hydraulic parking, and organizing and renting car parks.

 

For his part, Mohammed Al-Majli, the region's Secretary, indicated that the project seeks to provide about 8,000 parking spaces in the scope of 26 roads and streets, and 18 yards and land designated for parking within the central area in the city.

 

Batic owns a 37.80% stake in Smart Cities Solutions, according to Argaam's data.

 

The company signed a purchase agreement last Thursday for the entire shares owned by Smart Solutions Co. Ltd., in the capital of Smart Cities Solutions for Communications and Information Technology, representing 4% of capital, for SAR 12 million.

Comments 0

Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Market Indices

Created with Highstock 6.0.710:0011:0012:0013:0012,090.0012,100.0012,110.0012,120.0012,130.0012,140.00
Close : 12132.87 | Jan 12, 11:06

Quotes

Created with Highstock 6.0.710:0011:0012:0013:003.903.923.943.96
Close : 3.92 | Jan 12, 11:06


Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website