Aldar Estates, the region's largest integrated real estate services company, and PARKONIC, the largest and most advanced parking operator in the region, have announced the formation of a joint venture to deploy seamless, AI-powered parking solutions across Aldar Estates’ diverse portfolio of managed communities and retail destinations in Abu Dhabi and Al Ain.

The collaboration unites Aldar Estates’ expertise in providing exceptional value and integrated solutions with PARKONIC’s proven track record in urban mobility solutions. The result will be a fully automated, frictionless parking system designed to deliver seamless entry and exit as well as instant cashless transactions for paid parking, with AI-driven accuracy.

By integrating PARKONIC’s advanced platform across Aldar Estates’ portfolio, the initiative aims to improve convenience for residents and visitors, reduce congestion, and support both Abu Dhabi’s sustainability agenda as well as the UAE’s broader Future Mobility strategy.

The next-generation platform has also been designed to support the infrastructure for the use of smart and autonomous vehicles.

Khaled Al Rajhi, CEO of Aldar Estates, said: “At Aldar Estates, we are dedicated to consistently delivering innovative, seamless, and sustainable solutions that ensure effortless living for our residents and communities. Our collaboration with PARKONIC is a testament to our ongoing efforts to elevate the overall convenience across the communities we manage in Abu Dhabi and Al Ain while ensuring they remain at the forefront of urban living.”

Imad Alameddine, CEO of PARKONIC, said: “This joint venture is a milestone in our mission to make parking effortless and trustworthy. Together with Aldar Estates, we are enabling residents and visitors to focus on what truly matters — while our technology ensures smooth, secure, and reliable access at every step.”

Aldar Estates’ dedication to delivering sustainable and forward-thinking solutions that improve the quality of life within its communities, coupled with PARKONIC’s global expertise spanning more than 170+ turnkey projects and 200,000+ parking spaces worldwide, forms the foundation of this joint venture’s shared commitment to smarter, sustainable, and consumer-centric urban living in the UAE and beyond.