Cairo: Parkin Company PJSC has signed a Memorandum of Understanding with Modon Misr for Asset and Facility Management, Mwasalat Misr, and Redcon Properties to explore opportunities for collaboration in developing parking management and smart mobility solutions in the Arab Republic of Egypt, marking Parkin's first entry into the Egyptian market.
According to Emirates News Agency, the parties under the MoU 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, and supporting current and future mobility needs. 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.
Eng. Mohamed Abdulla Al Ali, CEO of Parkin, commented that this MoU marks an important milestone in Parkin's growth and regional expansion journey, representing their first entry into the Egyptian market and opening new avenues to deploy operational and technological expertise while expanding the reach of their parking management and smart mobility solutions.
Mohamed Aboutaleb, Chief Executive Officer of Modon Misr for Asset and Facility Management, stated that 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 the collaboration, they look forward to combining Parkin's international expertise with local market knowledge to explore smart, integrated solutions tailored to the needs and future ambitions of the Egyptian market.
The signing was attended by Eng. Mohamed Abdulla Al Ali, Chief Executive Officer of Parkin, and Eng. Osama Hashim Al Safi, Chief Operating Officer, alongside Mr. Mohamed Aboutaleb, Chief Executive Officer of Modon Misr for Asset and Facility Management, and Mr. Hisham Taha, Chief Executive Officer of Mwasalat Misr.
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.