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Solving parking issues in SA through technology is the focus of this edition of the Business Day Spotlight.
Our host Mudiwa Gavaza is joined by Mark Bradford, CEO of Docklands Ventures.
The discussion focuses on trends in the local parking market.
Finding parking spaces for vehicles has and continues to be a huge problem for people in cities around the world. This is the problem that local parking start-upParkUpp has been working to solve through its platform.
In February, ParkUpp was acquired by Bradford’s real estate investment company.Join the discussion:
Founded by Palesa Moloi in 2016, ParkUpp is a marketplace that connects owners of parking spaces with companies and individuals who need parking. The website focuses on daily to monthly parking, providing a booking and payment system. Property owners benefit by not having to source, sign, or secure payment from a new tenant.
The start-up’s solution is used by listed property funds across the country, including shopping centres, private parking facilities and co-working spaces.
Bradford talks about how the acquisition came about, how the business is performing and how Docklands is planning to expand the ParkUpp business. He says ParkUpp now forms part of a portfolio of eight businesses that are all looking to solve different problems in the property sector.
Bradford says part of the future focus is finding new niches in the parking market, particularly around long-term services. To this end, the company recently launched Parkupp Collector, a community basement parking facility for car collectors, and is looking at other areas of specialisation.
Topics of discussion include ParkUpp’s business model, Docklands Ventures’ acquisition of ParkUpp, trends in the parking and property market, new niches and areas of focus, and the outlook for the business.
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Business Day Spotlight is a MultimediaLIVE production.
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.