BATIC Subsidiary Clarifies Qassim Municipality Takeover of Buraydah Parking Management

BATIC Investments and Logistics Co. announced on Thursday the clarification of its subsidiary, Smart City Solutions Company, regarding what was stated in the press release issued by the Qassim Municipality on last Wednesday regarding the Qassim Municipality taking over the management and operation of parking facilities in downtown Buraydah starting today, Thursday, Feb. 27, 2025.

The Company stated in a statement today on “Tadawul” that its subsidiary (Smart City Solutions Company) has a contract to invest in a municipal property (rental, development, operation and maintenance of parking facilities in downtown Buraydah extending to the year 2047), indicating that its subsidiary will take all necessary legal and regulatory actions that preserve the Company’s rights and gains before the Administrative Court and relevant official authorities.