Property Developer Trades Parking Spots For Uber Credit

Anyone who lives in a big city will know how hard it can be to find parking. As living spaces become smaller and the cost rises, property developers try to maximize land use and extract as much value out of it as they possibly can. UK property developer Moda Living is building swanky new apartment blocks and it’s offering tenants free Uber credits per month if they agree to trade their parking spot.

Moda Living’s new apartment blocks offer hotel-style amenities. Tenants get access to share dining areas, gyms, meeting rooms, and event spaces. The developer even takes care of home entertainment setups and Wi-Fi for the tenants. The developer will use the extra space saved by reducing parking spots to offer more amenities such as cinema rooms.

Moda Living has teamed up with Uber to provide future residents with £100 of Uber credit every month. The only caveat is that the residents will have to give up their parking space in the building if they would like to receive this free credit.

This the first partnership of this kind that Uber has inked with a property developer in the United Kingdom. It’s aimed at discouraging car ownership which the companies believe is going to contribute to reducing city congestion in pollution, even if in just a small way.

Adnan Farooqui
Categories: Transportation
Tags: Uber