In brief
Remat Al‑Riyadh Development Company, the development arm of Riyadh Region Municipality, has announced a 50‑year public‑private partnership (PPP) through the Furas platform to operate and expand Riyadh’s parking facilities. The initiative will grow the city’s network of paid and managed free parking spaces, integrate with the existing Riyadh Parking application, and improve urban mobility and municipal asset performance. Interested investors must submit bids by January 10, 2027.
Remat Al‑Riyadh Development Company, the development arm of Riyadh Region Municipality, announced on November 3, 2026 that it is offering a 50‑year public‑private partnership via the Furas platform to operate parking facilities across Riyadh.
Investment Opportunity Details
Under the public‑private partnership model, the selected partner will join a joint‑venture company that will manage and operate Riyadh’s parking system, integrating with the existing Riyadh Parking application. The current system includes more than 29,000 paid parking spaces and over 300,000 managed free parking spaces across 18 residential neighborhoods, and the app already serves over one million users, the agency said.
The project aims to expand the city’s paid and free parking network, improve urban mobility and the municipal asset performance, and create opportunities for long‑term growth and development. Remat Al‑Riyadh expects the partnership to strengthen the financial and operational sustainability of municipal assets while enhancing traffic flow and access to key areas.
Interested investors can review the opportunity details and purchase the tender documents through the Furas application or its online portal. Submitted bids must be received by January 10, 2027, according to the Saudi Press Agency release.
