Riyadh – Mubasher: National Parking Company (Mawgif), indirectly owned by Batic Investments and Logistics Company (Batic) has signed a memorandum of understanding (MoU) with Saudi Huawei to form a strategic partnership.

The four-month deal will be valid until 1 March 2020, according to Batic’s statement to the Saudi Stock Exchange (Tadawul) on Sunday.

Under the deal, Saudi Huawei will build and manage around 20,000 smart parking areas in coordination with the Eastern Province.

Moreover, Saudi Huawei will build and manage smart cities using state-of-the-art solutions, including the internet of things (IoT), Big Data analysis, and artificial intelligence (AI).

The deal aims at helping the Saudi market to establish a joint innovation centre for smart city solutions, in cooperation with specialized research centres.