Features
This Company Reduces Parking Woes in the Klang Valley by Turning Unused Land Into Parking Spaces
Research reveals that car owners across Malaysia spend an average of 152 hours annually searching for parking spaces, exacerbating traffic congestion in central areas. In large cities, drivers may spend up to 20 minutes searching for a parking space. Through its cutting-edge parking facilities technology, Times24 Malaysia Sdn Bhd is transforming unused land into efficient parking spaces to resolve the city's parking issues.
Rojak Daily spoke to Ong Yeong Wee, the Co-Chief Executive Officer and Chief Commercial Officer at Times24 Malaysia Sdn. Bhd. to discover why comprehensive parking management solutions are vital in our country’s urban landscape.
Founded in 1994, Times24 Malaysia has grown to become the country's largest car park management company, currently managing over 160 car parks and being awarded the Brand Laureate Award for Fast Moving Growing Sustainable Business.
Ong said, “Our services encompass designing, developing, and managing efficient parking facilities. Leveraging advanced technology and data analytics, we optimise parking spaces, streamline traffic flow, and provide a seamless experience for users. Our objective is to transform underutilised spaces into valuable assets for property owners while enhancing accessibility and convenience for the public.”
Times is part of the Japan-based PARK24 Group, one of Japan's largest car park management operators, established in 1971. Times works on transforming unused land into efficient parking spaces by considering site location, accessibility, safety, and sustainability.
Identifying issues
To address the issue of traffic congestion in the Klang Valley, Times24 Malaysia has identified several strategic sites that could benefit from additional parking infrastructure.
Specific areas like Kampung Baru, Bangsar, Pudu, Mid Valley, and Desa Sri Hartamas are known for their high traffic density, especially during peak hours, making parking a significant challenge. In Kuala Lumpur, traffic congestion has worsened, with a 43% increase in congestion levels compared to previous years. This situation has led Malaysian commuters to spend an average of 166 hours per year stuck in traffic for every 10 kilometres travelled, placing Malaysia among the top 12 countries with the most challenging road conditions.
The demand for parking space in Kuala Lumpur is undeniable, highlighted by the discovery of approximately 20% unused land in the Klang Valley region. To alleviate traffic congestion, Times24 Malaysia focuses on identifying strategic sites that are well-connected to public transportation and characterised by high foot traffic. These sites could include shopping malls, commercial centres, and residential areas with limited parking options.
“By converting underutilised areas into state-of-the-art parking facilities, we have significantly alleviated traffic congestion and provided convenient parking solutions for local businesses and residents. We strategically place some of our parking facilities near public transport hubs to support government initiatives promoting public transport and help ease traffic congestion. Notably, many public transport stations, like train stations, often lack adequate parking spaces, making it challenging for commuters to park their vehicles. Our facilities provide a solution to this issue, enhancing accessibility and convenience for the public,” Ong explained.
Some notable success stories are their projects at Taman Desa Business Park in KL, Lebuh Noordin in Penang, Jalan Jubilee in Ipoh, Puteri Harbour Convention Centre and Puteri Harbour International Ferry Terminal in Johor.
How property owners can benefit
To establish a mutually beneficial relationship with property owners, Times24 Malaysia employs various strategies. “We offer customised parking solutions tailored to the specific needs of each property, ensuring that both landlords and the public benefit from the improved infrastructure,” said Ong.
Their revenue-sharing models are designed to provide financial benefits to both parties. At the same time, their collaboration with property owners focuses on developing integrated parking solutions that enhance the overall urban mobility experience. “For instance, in some of our open sites, landlords receive a fixed monthly rent while we handle the makeover and implement an all-in-one parking system solution,” explained Ong. They also offer the option of profit sharing.
Transforming spaces
The transformation of a specific lot into a Times24 parking space involves a comprehensive process. It begins with an initial site assessment, including feasibility studies and traffic analysis, to evaluate location, accessibility, potential traffic flow improvements, and environmental impact.
“Following the assessment, we engage with key stakeholders, including developers and landowners, to present our proposed parking solution and formalise it with an agreement afterwards,” explained Ong.
“Next, our team designs a customised parking layout tailored to the specific needs of the location. This includes integrating smart technology for efficient management, such as automated payment systems and surveillance. The construction phase follows, adhering to safety standards and environmental regulations, with a focus on creating a facility that is both functional and aesthetically pleasing. This phase considers essential aspects like lighting, signage, and accessibility.”
Upon completion of the construction, Times24 implements its management systems, including automated access control, 24/7 customer support, and regular maintenance services. Finally, they provide ongoing support and maintenance to ensure the parking facility operates smoothly, which includes regular inspections, cleaning, and updates to the technology systems as needed.
Urban development goals
Beyond providing parking solutions, Times24 also contributes to broader urban development goals. “We improve accessibility by implementing well-designed parking facilities that reduce congestion and facilitate smoother traffic flow,” said Ong.
Times prioritises the integration of technology and sustainable practices. “For instance, our facilities increasingly feature cashless parking systems and License Plate Recognition (LPR) technology, which streamline the parking process and minimises the need for physical infrastructure like ticket booths and payment machines. This not only reduces resource usage but also contributes to a more efficient and eco-friendly parking experience.”
Additionally, they support using electric vehicles by providing dedicated charging stations, promoting shared mobility options, and reducing the need for private vehicle ownership. “This approach helps lower carbon emissions and encourages sustainable urban transportation. We also enhance the quality of life for residents by improving the overall urban mobility experience. Our facilities have modern amenities such as clear signage, CCTV, barrier systems, and even road surface improvements, ensuring a safe and convenient environment for all users.”
Driving forward
Shortly, Times24 Malaysia has several strategic initiatives planned for to enhance its position as a leading parking management provider. “Our expansion strategy focuses on increasing our footprint in key urban areas by identifying and developing new parking sites. In terms of technological advancements, they will continue to explore other cutting-edge solutions to enhance efficiency and the overall user experience,” said Ong.
“Our sustainability initiatives are a key focus area, as we aim to enhance eco-friendly practices within our facilities. This includes increasing the availability of EV charging stations.”
For more information check out their website.
Have you ever thought of turning your land into a parking lot? These are the guys for the job!
Featured Image Credit: Times24 Malaysia Sdn Bhd
Featured Image Credit: Times24 Malaysia Sdn Bhd