• Tue. May 30th, 2023

Growthpoint Properties signs Parket as its Parking Management Partner

ByPeter Oluka

Mar 30, 2023

Growthpoint Properties, the largest South African JSE-listed primary REIT, is trialling Parket, a revolutionary, turnkey digital parking management platform, at its Longkloof Office Park in Cape Town.

The move by Parket is the latest in a string of high-profile customers who are attracted to a digital platform that automatically manages access control and enables landlords to connect empty spaces with motorists looking for parking, providing a hassle-free way to monetise their facilities.

Technology companies are often associated with the word “disruption”, and Parket founder and CEO Joshua Raphael says the perhaps the biggest disruption to the current parking management landscape is that the Parket platform drastically reduces Capex by a factor of 10x, while operational costs are almost nonexistent, which is a direct clash with current systems that are paper-based and rely on clunky legacy systems that require maintenance and upkeep.

“We are proud to sign Growthpoint Properties. It is especially rewarding that we will be able to use our turnkey solution to drive not only massive cost savings for Growthpoint, but also to work towards evolving this partnership further,” says Raphael.

The cost savings and ease of use were a strong selling point, but so too was the fact that the platform is environmentally friendly by virtue of being paperless and by reducing the time that cars idle up and down parkades generating greenhouse gases.

As a market leader and the largest JSE-listed REIT, Growthpoint is always looking for ways to continuously support sustainable innovation in South Africa, achieved through strategic partnerships which create new and improved ways of simplifying and improving the tenant experience.

See also  Ismail Adewusi shares NIPOST transformation journey from recovery to innovation

Parket is world-class, and its parking management platform automatically manages parking allocation, payment and access control via licence plate reading technology. This, and the fact that empty bays can be managed and monetised on an hourly, daily or monthly basis, is attractive from a business perspective. The environmentally friendly nature of the platform demonstrates that this is a forward-looking solution.

Parket simplifies and enhances operations at parking lots, delivering greater efficiency and profitability for operators.

It is a digital solution that includes remote management, payments, connecting drivers and vacant parking bays in real time via an app, access control, and bringing in income off vacant spaces and lots.

“What a lot of our customers love besides the massive capex and opex savings, is the efficiency – it is entirely automated, meaning that management of the parking for all stakeholders becomes much more streamlined” explains Raphael.

Parket’s rapid growth, among household names in the commercial, hotel, airport and office park space shows no signs of abating and Raphael says that the solution currently serves not only office parks but residential lots too.

The platform is ideal for all industries, including retail, where there is a need for efficient parking management. Regarding growing beyond Cape Town, Raphael says there most certainly are plans to scale the business into other cities now that the groundwork has been laid and Parket is on track for the next phase of growth internationally.



Peter Oluka

Peter Oluka is the Editor, TechEconomy. Email: Peter.Oluka@TechEconomy.NG

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.