Car parks are valuable even if they risk becoming redundant

A TIME may come when car park spaces are redundant in many commercial buildings. But major car park owners need not panic, as car parks can potentially be repurposed.

In land-scarce cities such as Singapore and Hong Kong, car parks have long held some appeal as investments.

They are relatively low-maintenance and, unlike with commercial or industrial properties, arrears are low because users usually have to pay before they can exit.