Saudi Arabia to offer Riyadh’s car parking project under PPP in 2018
The Saudi Ministry of Municipal and Rural Affairs (MOMRA) will tender several projects under the public-private partnership (PPP) model this year, starting with the parking lot management project in Riyadh, Al-Madina newspaper reported.
The ministry will offer more projects in 2019.
The parking lot project will be tendered by Riyadh Municipality, ahead of being rolled out across the Kingdom.
A thorough study was conducted and an innovative revenue-risk sharing model was developed for the planned project, the report added.
Minister of Municipal and Rural Affairs, Abdullatif Al-Shaikh, had earlier said studies for privatization of the municipal sector were completed, according to Argaam data.