As part of the public-private partnership (PPP) framework, solutions by stc, the leading provider of digital transformation services in the Kingdom and the region, has announced the extension of its partnership with Reemat Riyadh Development, the development arm of Riyadh Municipality and a strategic enabler for the private sector. The agreement extends the contract for the development, operation, and maintenance of Riyadh’s smart public parking system for an additional five years.
This extension aligns with stc Group’s strategy, which emphasizes enabling digital transformation, promoting sustainability, and fostering strategic partnerships that contribute to the development of smart cities and the building of a digital infrastructure in line with the ambitions of Saudi Vision 2030.
The original contract, signed at the beginning of 2024, covers the first phase of on-street parking across 12 zones in Riyadh and spans a 10-year term. It is managed by Reemat Riyadh Development under the supervision of the Riyadh Municipality. The project includes organizing paid commercial on-street parking and managing free residential neighborhood parking, aiming to reduce random parking and prevent commercial zone overflow.
Riyadh’s public parking initiative reflects a strong public-private collaboration model based on revenue-sharing, targeting improvements in traffic flow, reducing illegal parking, minimizing congestion in key areas, and decreasing the time spent searching for available spaces. These efforts are set to enhance urban aesthetics, reduce carbon emissions, and elevate the overall quality of life.
Smart public parking management systems are considered a cornerstone in developing modern urban infrastructure and play a critical role in establishing a globally leading model that integrates full automation and emerging technologies.