Riyadh Municipality has launched investment opportunities for off-street parking lots in the city of Riyadh (Phase 1). These investment opportunities reflect the efforts of the Riyadh Municipality in advancing the urban development of the capital by promoting the strategy of utilizing municipal and non-municipal assets to contribute to the development of infrastructure by providing additional parking supply by relying on smart city elements integrated into the design of parking lots, which will reflect positively in raising the quality of life for residents and visitors.
This approach comes within the framework of the Riyadh Municipality's efforts to create a qualitative shift in the mobility sector through a package of innovative and sustainable solutions and adopting the best practices.
This approach comes as part of its commitment to achieve innovation and integration in services, and to provide more exemplary projects that complement public parking projects by interconnecting and integrating the user's mobility journey and improving their experience, and providing integrated mobility centers that include vehicle parking, alternative modes of transportation, parcel bins, and electric vehicle charging areas.
Through its arm, UAE Parking, UAE Parking is committed to providing additional parking supply based on smart city elements integrated into the design of parking lots. Through its development arm and strategic enabler of partnership with the private sector, Riyadh Reemat Development Company, Riyadh Municipality will play a pivotal role in the process of distributing and organizing off-street public parking in Riyadh city, and among its priorities in this framework are the locations that witness the largest movement of vehicles; where it will work to develop smart parking near vital and commercial areas, relying on smart technologies and modern architectural designs, including smart tracking cameras, sensors, electronic signage and surveillance cameras.
Riyadh Municipality explained that the Riyadh Region Municipality is committed to the development of smart parking. The Riyadh Municipality explained that all projects are planned to preserve the urban identity of Riyadh by setting standards and determinants for the levels of application of the urban code (Salmani), which will contribute to improving the urban landscape, and at the same time promote the concept of humanizing the city facilities by exploiting the spaces in parking buildings to provide recreational and social services to residents and visitors.
In turn, the Riyadh Municipality will continue its efforts to improve the quality of life of the city through the use of the spaces in the parking buildings to provide recreational and social services for residents and visitors. Reemat Riyadh Development Company will continue to develop attractive and innovative business models in partnership with the private sector by investing in infrastructure and services projects to empower the private sector and motivate investors to invest in the opportunities available to participate in the development wheel in line with the objectives of the Kingdom's Vision 2030.
Riyadh Municipality has welcomed the Riyadh Municipality to the Riyadh Municipality, which will contribute to the improvement of the urban landscape.
<The Riyadh Municipality invited the private sector wishing to download the investment opportunities guide for off-street public parking lots within the first phase via the link:
https://drive.google.com/file/d/1LsphlWbJLn50Q0BRQwf_RQEtpLru00-A/view
