Batic clarifies on Qassim Municipality’s takeover of Buraydah parking lots

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Batic Investments and Logistics Co. issued a clarification from its subsidiary, Smart Cities Solutions Co. (SCSC), following a press release by Qassim Municipality on Feb. 26 on taking over the management and operation of parking facilities in Buraydah as of today, Feb. 27.
 

In a statement to Tadawul, SCSC holds a municipal property investment contract (leasing, developing, operating, and maintaining longitudinal and multi-level smart parking systems, hydraulic parking, and parking lots in downtown  Buraydah), extending until 2047.

 

The subsidiary will take all legal and regulatory actions to safeguard its rights and interests through the Administrative Court and relevant official authorities, and any material developments will be announced later.

 

The Eastern Province Municipality earlier announced that it will take over the management of parking in Dammam and Khobar, effective Feb. 25, Argaam data showed.

 

Meanwhile, Batic said that SCSC has investment contracts for the establishment, development and operation of parking lots for the company's investment contract in Dammam, which extends to 2045, and the investment contract in the governorates of Khobar and Dhahran, which extends to 2044.

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