Introduction
The Link REIT has the largest portfolio of car parks of any single real estate investor/manager in Hong Kong.
We manage 178 car parks located near most of our retail facilities and many of Hong Kong's public housing estates. These car parks provide approximately 80,000 parking spaces, serving customers and tenants of our retail facilities, residents living close by and visitors to our centres.
Revenue from car parks accounts for about 20% of the total revenue of the Company. In recent years, the Manager has been evaluating new initiatives to improve the performance of the car park property portfolio.
These initiatives include the following:
Installation of a Car Park Automation System for better control of income receipts from the car park business
Introduction of a One-Link Pass enabling monthly users of private car park bays to enjoy parking at the hourly parking bays of The Link's 161 carparks (08:00 to 24:00 daily) for a minimum additional sum
Introduction of a new Max Park scheme to attract more long-stay parkers
Regular review of monthly and hourly rates
Extension of our care to the disabled through the offer of 60% discount price parking and the One-Link Pass scheme to all disabled drivers and drivers transporting people with mobility disabilities in Hong Kong
Cooperation with two electricity companies to set up Electric Vehicle (EV) charging stations in our carparks
Introduction of an EV Pass to provide holders/users with free parking in designated spaces for recharging their EVs (10:00 to 22:00 daily)