BATIC subsidiary Signs SR422 mln Contract for Smart Parking Project in Buraydah

Sponsored by Royal Highness Prince Dr. Faisal bin Meshaal bin Saud bin Abdulaziz, Governor of Qassim Region, in the Emirate was signed on Monday, 17 January 2022, an investment contract for the Smart Parking Project for the Downtown Area of Buraydah at a value of 422 million (Including VAT) for 25 years, between the Qassim Region Municipality.

The contract was represented by Eng. Mohammed Al- Mujali, and SCSC (a subsidiary of BATIC) and represented by the Chairman of the Board of Directors of BATIC (the owner of Smart City Solutions Company), Mr. Ahmed Al-Sanea. In the presence of Dr. Abdulrahman Al-Wazzan, Dr. Yousef Al-Oraini, Mr,Abdulaziz Al-Hamed and CEO of SCSC Eng. Adnan Al-Marshed.

BATIC announced on Tuesday on Tadawul that the contract details is represented in Investment contract for a municipal property (rental, development, operation and maintenance of downtown Buraydah city, smart parking lots, multiple hydraulic and parking spaces by providing approximately 8 thousand parking spaces in the range of 26 roads and streets, 18 yards and land dedicated to parking within the central area of Buraidah city, and implementing and organizing and operate part of the B.O.T. Sabakh Road.

The financial impact of this contract is expected to start upon completion and operating of the project.

It was indicated that that BATIC owns 72.80% of the capital of SCSC, which is a company specialized in providing advanced technical services and solutions to smart cities. The company offers several applications for cities (such as smart parking management and its infrastructure from electronic applications) according to the seven technologies that Rated by the World Bank for Smart Cities, to keep pace with Saudi Arabia’s Vision 2030 and the global progress in this industry and its application in Saudi cities. In addition, SCSC has a contract to develop, establish and operate smart parking for 25 years in each of the city Al Khobar, Dhahran and Dammam.

These projects (multi-role parking and smart parking) are considered the largest in the level of services and solutions for public parking in the Kingdom and serve the interests of citizens and residents in organizing parking and comfort with high quality and multiple payment methods and is considered one of the main building blocks for smart cities. In line with the plans of municipality in major cities, among the developments in the Kingdom and Vision 2030.