FEC is a leading car park operator in Asia Pacific. Operating in Australia, New Zealand and Malaysia, the Group owns and manages over 354 car parks and 71,000 bays in the region.
In Australia and New Zealand, the business is managed by Care Park. Care Park adopts an ownership and third party car park management model, which provides a strong recurring income base and delivers a steady cash flow. Combining its experience as a car park owner and manager with FEC’s property development expertise, Care Park has recently expanded the scope of its management services and geographic scale.
Growth areas include facility management in addition to retail and commercial services, which will benefit from FEC’s extensive experience in the property sector. The Company is also actively exploring the possibility of servicing airports and shopping malls, which will complement its existing third party car park management services.
To maintain its leadership position, the Group will continue to build the Care Park brand, expand its management operations, and make strategic acquisitions that enhance its portfolio.
Car Park Website: www.carepark.com.au