MAG Robotic Investments has signed a contract with Emaar Properties to develop a fully automated parking facility on a build operate transfer (BOT) basis at Dubai Marina.
MAG Robotic Investments said it has assigned MAG Royal Solutions to manage the new project which will accommodate approximately 700 cars and aims to significantly ease parking pressure around the Dubai Marina area.
The automated parking facility, which represents the third largest to be developed by MAG Royal Solutions, will be located on the ground and first floors of a building that will also be home to restaurants and retail outlets.
The company said the automated parking facility will eliminate the need to walk or drive around various parking decks in search of a vacant space or parked car.
"This will dramatically decrease foot traffic and driving inside the parking facility, contributing to zero emissions and making the facility environmentally clean and fully compliant with green building requirements. Valet parking will also be provided to ensure the comfort of patrons and visitors," it added in a statement.
MAG Royal Solutions is a subsidiary of the MAG Group of Companies and a sister company to MAG Lifestyle Development, a property developer in the UAE.
Emaar has delivered over 44,200 residential units in Dubai and other global markets since 2002.
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