Parkin Company has signed an agreement with Modon Misr for Asset & Facility Management, Mwasalat Misr and Redcon Properties to explore opportunities for collaboration in developing parking management and smart mobility solutions in Egypt, marking its first entry into the Egyptian market.

Under the MoU, the parties will consider a range of joint initiatives and areas of integration that support their respective objectives and contribute to the development of advanced parking management and mobility solutions.

The MoU aims to explore opportunities for collaboration in Egypt by leveraging Parkin’s operational, technological and advisory expertise across smart parking, public parking and multi-storey car parks. Areas of focus will include planning and development, parking policies, demand management strategies and technology-enabled mobility solutions, with the aim of enhancing operational efficiency, improving customer experience as well as supporting current and future mobility needs.

The signing was attended by Eng. Mohamed Abdulla Al Ali, the CEO of Parkin, and Eng. Osama Hashim Al Safi, Chief Operating Officer, alongside Modon Misr for Asset & Facility Management CEO Mohamed Aboutaleb and Mwasalat Misr CEO Hisham Taha.

The MoU forms part of Parkin’s strategy to explore growth and expansion opportunities beyond the UAE, leveraging its operational and technological expertise in new markets, including smart parking and urban mobility solutions, it stated.

Specific areas of collaboration include the use of Parkin’s smart parking solutions and technologies across parking assets managed by the Egyptian parties, including Automatic Number Plate Recognition (ANPR), AI-enabled parking cameras, barrierless parking solutions, digital permits and parking management platforms.

Al Ali said, "This MoU marks an important milestone in Parkin’s growth and regional expansion journey, representing our first entry into the Egyptian market and opening new avenues to deploy our operational and technological expertise while expanding the reach of our parking management and smart mobility solutions.

We look forward to working with our partners in the Arab Republic of Egypt to explore how Parkin’s operational and technological expertise and smart solutions can support the evolving needs and continued urban development of Egypt. We believe technology, data and operational expertise are fundamental to developing a more efficient, seamless and sustainable parking ecosystem that enhances the customer experience and supports quality of life across urban communities."

Aboutaleb aaid, “This partnership represents an important step towards supporting the evolution of parking and mobility in Egypt, as the country continues to experience significant urban growth and the development of new cities and communities.

"Through this collaboration, we look forward to combining Parkin’s international expertise with our local market knowledge to explore smart, integrated solutions tailored to the needs and future ambitions of the Egyptian market," stated the top official.

"We believe that advanced technology and operational expertise can play an important role in enhancing parking efficiency, improving the user experience and supporting the development of more efficient, connected and sustainable communities across Egypt,” he added.-TradeArabia News Service