Parkonic and Salik Launch Region's First Fully AI-Powered Autonomous Parking Solution Across Iconic Communities
Fully aligned with Dubai's Smart City 2030 and Future Mobility Vision, this collaboration brings to life a ticketless and barrier-free parking solution without manual inspection. Powered by Parkonic's advanced artificial intelligence and software platforms and enabled by Salik's seamless payment solution, the system provides frictionless exit, delivering a truly zero-interaction customer experience.
Parkonic's game-changing solution is fully integrated with Salik's advanced payment infrastructure, enabling instant, cashless, and automatic payment capabilities that align with Dubai's broader intelligent mobility vision. Parkonic and Salik's ecosystem integration ensures a seamless customer journey through facilitating ease of movement and eliminating the causes of fines or citations which stem from overstays; representing a significant step toward connected mobility infrastructure in Dubai.
Through this partnership, residents and visitors in these communities will be the first to benefit from the smart parking infrastructure, experiencing enhanced mobility, efficiency and accessibility.
'This partnership is a milestone for urban mobility in Dubai. Together with Salik and Dubai Holding, we're building a future where parking is seamless, intelligent, and user-centric. Dubai Holding's trust in Parkonic reflects our innovation and dedication. This collaboration goes beyond parking—it's about preparing for autonomous vehicles, AI-driven services, and a fully integrated mobility ecosystem.
Dubai is leading the way, and Parkonic is proud to be at its core.' said Imad Alameddine, CEO of Parkonic.
The project aims to reduce congestion, cut carbon emissions, and directly support Dubai's Net Zero goals, while enhancing the overall customer experience. Proudly developed and operated in the UAE, this partnership between Parkonic and Salik sets a new benchmark in future-ready urban design, featuring multilingual interfaces and automatic billing, no manual interaction necessary.
About Parkonic: Parkonic is the largest private parking operator in the UAE, and is the country's leading smart parking solutions provider, pioneering AI-powered systems that transform urban mobility and parking across the region.
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 utilizing Radio-Frequency-Identification (RFID) and Automatic-Number-Plate-Recognition (ANPR) technologies. The Company currently operates exclusively all the toll gates located at strategic junctures, especially on Sheikh Zayed Road, which is considered the main road in Dubai. Salik listed on the Dubai Financial Market (DFM) on 29th September 2022. 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.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
9 minutes ago
- Zawya
ADIB Egypt registers 36.1% YoY higher consolidated profits in H1 2025
Arab Finance: Abu Dhabi Islamic Bank (ADIB Egypt) posted a 36.10% increase in consolidated net profits after tax attributable to the shareholders, reaching EGP 6.225 billion in the first half (H1) of 2025, the financial results showed. The recorded earnings were higher year-on-year (YoY) than EGP 4.574 billion in H1 2024. Basic earnings per share (EPS) dropped to EGP 7.43 at the end of June 2025 from EGP 7.74 a year earlier, while the income hiked to EGP 23.361 billion from EGP 15.819 billion. As for the standalone business, the net profits climbed to EGP 6.037 billion in the first six months of 2025 from EGP 4.491 billion in H1 2024. Non-consolidated total income jumped to EGP 22.993 billion from EGP 15.567 billion. The board agreed to increase issued and paid-up capital from EGP 12 billion to EGP 15 billion. Hence, a total of EGP 3 billion will be distributed over 300 million shares at a nominal value of EGP 10 per share, with an issuance fee of EGP 0.10 per share. The transaction will be implemented through a cash subscription by existing shareholders according to their holdings, with fractional shares allocated to small shareholders. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (


Zawya
9 minutes ago
- Zawya
Solidarity Bahrain completes $114mln capital raise
Bahrain - Solidarity Bahrain, the leading insurance company in the kingdom, announced the successful issuance of $114 million in Tier 2 Capital to strengthen its financial position and support its ongoing strategic initiatives. The capital raise was secured through a private placement arranged by Al Salam Bank and its asset management arm, ASB Capital. The issuance follows Solidarity Bahrain's recent acquisition of Bahrain National Life Insurance Company (BNL) in April of this year and precedes its planned purchase of Bahrain National Insurance Company (BNI) from Solidarity Group Holding. Al Salam Bank and ASB Capital was appointed by Solidarity Bahrain to provide dedicated advisory support throughout the issuance process, overseeing the deal's structuring and coordinating the capital raise from a diverse group of local, regional and international investors. Backed by deep industry expertise and strategic partnerships, ASB Capital continues to respond to the evolving client needs across regional and global markets by offering innovative and tailored financing and capital solutions. In this context, Solidarity Group Holding group chief executive Ashraf Bseisu said: 'This issuance marks a pivotal milestone in our journey to grow our operations and optimise our capital base. The issuance was completed within a record timeframe, reflecting the robust investor confidence in our solid financial foundations, long-term growth trajectory, and the promising future of the insurance sector in Bahrain and the wider region.' Meanwhile, Al Salam Bank Group chief executive and ASB Capital managing director Rafik Nayed said: 'The successful and expedited closing of the issuance reflects not only our disciplined approach to capital optimisation and innovative structuring, but also our deep expertise in transaction advisory and capital markets. This transaction highlights our commitment to delivering high-impact, results-driven advisory services backed by a strong pipeline from both local and regional institutional clients.'


Zawya
9 minutes ago
- Zawya
Egypt: Misr Hotels sees 4.45% YoY lower profits in FY2024/25
Arab Finance: Misr Hotels Company posted 4.45% year-on-year (YoY) lower net profits after tax at EGP 1.389 billion in fiscal year (FY) 2024/2025, compared to EGP 1.454 billion, according to the financial results. The earnings per share (EPS) amounted to EGP 2.62 in the 12-month period that ended on June 30 th, 2025, compared to EGP 1.56 a year earlier. Revenues jumped to EGP 1.906 billion in FY2024/2025 from EGP 1.438 billion in FY2023/24. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (