Salik Collaborates With Parkonic, The Largest Private Parking Operator In The UAE, And Expands Geographically For The First Time Beyond The Emirate Of Dubai

(MENAFN- Mid-East Info)

• Salik's eWallet system will be integrated across Parkonic's 107 locations in the UAE and all future locations, providing a streamlined, seamless and convenient parking payment solution
• The partnership is based on a five-year contract, bolstering the UAE's smart city infrastructure and enabling easy, secure and quick access to parking services across the country

• Agreement marks the first time Salik's technology has been deployed outside of the Emirate of Dubai, with the solution expected to become available for Parkonic's c.135,000 parking spaces during Q1 2025
• Salik will receive a percentage of parking fees generated through the Salik eWallet, further enhancing the growth of its ancillary revenues
• Salik will continue to build out its ancillary revenue streams, with seamless parking solutions an important step in leveraging its unique technology platform beyond the core tolling business.

Dubai, UAE –November 2024: Salik Company PJSC (“Salik” or the“Company”), Dubai's exclusive toll gate operator, announces it has partnered with Parkonic, the UAE's largest private sector parking operator, known for its cutting-edge AI-powered free-flow parking systems. The collaboration aims to enhance parking payment experiences across the UAE by integrating Salik's advanced eWallet system. The partnership is based on a five-year contract, during which Parkonic will integrate Salik's eWallet into the 107 locations it operates and any other future locations it may operate in the UAE. The agreement also marks the first time Salik has expanded its service offering outside of the Emirate of Dubai.

Under the terms of the agreement, Parkonic will promote Salik as the preferred payment channel for its customers at all current and future locations, utilizing Salik's capability of providing a seamless and convenient payment option for paid parking. For providing the eWallet services, Parkonic will pay Salik a percentage of their share of parking revenue generated through the Salik eWallet. The solution is expected to be available for Parkonic's c.135,000 parking spaces during the first quarter of 2025.

Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, said:“Our strategic partnership with Parkonic will facilitate advanced parking payment solutions across approximately 135,000 spaces and 107 locations in the UAE, and marks the first time Salik has expanded beyond the Emirate of Dubai. Not only will this bolster the UAE's smart city infrastructure, enabling easy, secure and quick access to parking services across the country, but it further accelerates the growth of Salik's ancillary revenues, a key component of our corporate strategy, with seamless parking solutions an important step in leveraging our unique technology platform beyond the core tolling business. This partnership further demonstrates Salik's commitment to continue building on the success of its parking payment solutions as a key driver of ancillary revenue growth”

Imad Alameddine, Chief Executive Officer of Parkonic, commented:“Both Parkonic and Salik share a commitment to innovation and excellence, and this partnership is a testament to our vision for a smarter, more connected UAE. By aligning our technologies and expertise, we are setting a new benchmark for convenience, efficiency, and sustainability in the region. This collaboration is not just about creating better mobility solutions-it's about empowering communities, enhancing urban living, and taking a part in the UAE's ambition to become a global leader in smart city initiatives. This partnership is a shining example of how collaboration between industry leaders can drive innovation and shape the cities of tomorrow. Parkonic's plans to enhance AI and integrate block chain highlight its commitment to transforming urban mobility. By leveraging these technologies, it is solving today's parking issues while paving the way for smarter cities.”

About Salik Company PJSC:

The Company was established in its current form, as a public joint stock company in June 2022 pursuant to Law No. (12) of 2022.“Salik”, which means“seamless mobility” in Arabic, is Dubai's exclusive toll gate operator and manages the Emirate of Dubai's automatic toll gates utilising Radio-Frequency-Identification (RFID) and Automatic-Number-Plate-Recognition (ANPR) technologies. The Company currently operates 8 toll gates located at strategic junctures, especially on Sheikh Zayed Road, which is considered the main road in Dubai. In 2023, 593 million journeys were recorded through Salik's toll gates, whether for residents commuting within the Emirate for their daily activities or for tourists visiting Dubai's attractions. Under a 49-year concession agreement (ending in 2071), with the Roads and Transport Authority (RTA), Salik has the exclusive right to operate existing and any future toll gates in Dubai.

About Parkonic:

Founded in 2018, Parkonic is the UAE's leading private-sector parking operator, celebrated for its innovative use of AI-powered free-flow parking systems, real-time parking analytics, dynamic pricing, and space-sharing solutions. Managing over 135,000 parking spaces in premium locations across the UAE, Parkonic is committed to enhancing customer experiences while contributing to the nation's smart city development goals. With a strong focus on sustainability, Parkonic's efforts to reduce its carbon footprint are key to achieving its ESG objectives. Through its advanced digital platform, the company processes over 65 million transactions annually. Recently, Parkonic expanded its operations to The Kingdom of Saudi Arabia, Qatar, and Egypt, with plans to further grow its presence across the MENA region and beyond.

MENAFN29112024005446012082ID1108938238