Batic clarifies on Smart Cities Solutions management

Logo of Batic Investments and Logistics Co. 

Batic Investments and Logistics Co. issued a clarification about its subsidiary, Smart Cities Solutions Co. (SCSC), following the press release issued on Feb. 25 by the Eastern Province Municipality

According to the press release, the municipality would take over the management and operation of parking facilities in Dammam and Khobar with immediate effect.

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SCSC earlier entered into investment contracts to build, develop, and operate parking spaces in Dammam until 2045 and in Khobar and Dhahran until 2044, Batic said in a statement to Tadawul.

SCSC will take all the necessary legal procedures to protect its rights and gains before the administrative court and the relevant official authorities.

Any other updates will be duly announced, Batic added.

On Feb. 25, the Eastern Province Municipality said it would take over the management and operation of parking facilities in Dammam and Khobar with immediate effect. The parking lots will be available for free until the process is complete.

According to the municipality, the parking initiative is organizational, aimed at providing easier options for beneficiaries and addressing certain practices by vehicle owners who park for extended periods, thus preventing others from utilizing the spaces.

Due to citizen and resident dissatisfaction with the previous model, the municipality has decided to manage and operate parking lots in Dammam and Khobar with a more flexible and user-friendly model that offers more options for beneficiaries.