Property
The lucrative car park business
Sonia Ramachandran | 11 Aug 2017 00:30
Malaysia has one of the highest percentages of car ownership in the world with over 90% of households owning a car, mainly due to the inadequacy of public transportation.

The high car ownership invariably means increasing demand for car parks, especially in busy business districts and high-rise residential developments.

Along with being a necessity coupled with the steadily rising parking rates, car park bays is fast becoming a lucrative investment, say property experts.
 
Raine & Horne International Zaki and Partners Sdn Bhd partner James Tan Keen Meng firmly believes that car parks are a lucrative business because of the huge number of cars on the road.

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