Urbanrise signs $16m partnership deal with PICA

Cloud-based building and property management platform creator Urbanrise has teamed up with Prudential Investment Company of Australia (PICA) to develop new services for the Australian strata management industry.

The 10-year, $16 million partnership agreement will involve PICA using the Urbanrise platform to build technology infrastructure for the residential and commercial property services sectors.

PICA Group will use the Urbanise Industry Cloud to manage its portfolio of more than 20,000 lots.

The two partners also plan to build Australia’s first shared property services platform and provide a range of services to PICA’s more than 350,000 tenants, including facilities management, repairs and maintenance services.

“After an extensive review of technology options from Australia and overseas, we concluded that Urbanise offered PICA the most comprehensive solution,” PICA CEO Greg Nash commented.

“The platform’s scalability and technology roadmap aligns with our vision for the broader strata industry. Cloud-based solutions will become fundamental to professionalising strata service delivery in the future. PICA and Urbanise are at the forefront of driving this industry change.”

Strata management involves the day-to-day operation and management of a jointly owned property, such as an apartment building or housing development. The model was developed in Australia and is gaining popularity overseas.

Image courtesy of Ruben Holthuijsen under CC