Listed in Abu Dhabi Easy Lease has purchased a 70% stake in QUBE Car Park Management, a UAE-based company that runs AI-powered parking and yards for seized vehicles. The motorbike fleet operator announced the acquisition has been “processed” on the Abu Dhabi Securities Exchange (ADX), where its shares are traded, following receiving all necessary regulatory approvals.
The company, which is a subsidiary of Abu Dhabi-based International Holding Company (IHC), did not disclose the value of the transaction.
QUBE Car Park uses the latest technologies in artificial intelligence (AI) and Internet of Things (IoT) in managing parking areas and impounded vehicle yards in the UAE.
“Currently, QUBE Car Park Management [is] managing nine vital parking yards using the latest global smart systems… Also they are working to expand their services,” the disclosure said.
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