🇭🇰 UCG and Urban Group Sign LOI to Transform up to 40,000 parking spaces

1st November 2025

UrbanChain Group Limited (“UCG”) today announced the launch of a strategic cooperation with Urban Group, a member of New World Development Company Limited, top-4 property developer in Hong Kong, to transform Urban Group’s parking portfolio into a network of next‑generation, sustainable mobility hubs across Hong Kong.

Urban Group manages more than 40,000 parking spaces across residential and mixed‑use properties in Hong Kong. Through this collaboration, the two companies will explore and deploy a new model for “urban ground floor” infrastructure—re‑positioning conventional car parks as multi‑use hubs that can support EV charging, shared mobility, logistics, storage, and community services on a unified digital and physical platform.

“Our company names say it all—UCG and Urban Group are natural partners in shaping the future of urban real estate and mobility in Hong Kong,” said Vitaly Pentegov, Founder & CEO of UrbanChain Group. “By combining Urban Group’s extensive asset base and operational experience with our technology platform, we aim to demonstrate how existing parking facilities can be upgraded into flexible, higher‑yield mobility infrastructure that serves residents, tenants, and the city as a whole.”

The cooperation will focus on:

• Identifying priority car parks within Urban Group’s portfolio;

• Integrating data‑driven access control, parking management, and EV charging capabilities;

• Testing new use cases such as shared mobility, last‑mile logistics, and smart storage;

• Developing scalable models that can be replicated across Hong Kong and other dense urban markets;

• The first commercial project is scheduled to launch in December 2025.

  
  

This initiative is supported by Cyberport Hong Kong and the Hong Kong Housing Society (HKHS), which have both played important roles in enabling UCG's PropTech journey in the city.

“We are grateful to Cyberport and HKHS for their continued support,” Pentegov added. “Hong Kong is one of the world’s most dynamic urban environments, and we believe it can become a global reference point for how to convert traditional parking into sustainable mobility hubs.”

Press release from Hong Kong Housing Society: https://www.hkhs.com/home/upload/pdf/pr_20241127__PropTech%20Ceremony_ENG_20241127121422.pdf

For further information, please contact:

UrbanChain Group Limited Email: info@urbanchain.world