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Asia’s Self-Storage Industry Gets Its Own Expo

In Events on May 25, 2015 by Lock+Store Tagged: , , , , , , , , , , ,

Ms Helen Ng, CEO of Lock+Store

Ms Helen Ng, CEO of Lock+Store

Asia’s foremost industry body for the business of self- storage, Self-Storage Association Asia, hosted their first Self Storage Expo Asia 2015 in Tokyo, Japan from May 13-15, 2015. Global guests and speakers united to share their extensive knowledge about today’s most lucrative alternative investment in the region most poised for opportunity and growth.
The topics were Asia-focused, taking into account what the industry has learnt about self- storage growth in other parts of the world and what obstacles countries in Asia may face. Special emphasis was given to the Singapore and Hong Kong markets on which Lock+Store CEO Helen Ng spoke.

Ms Ng who is also the Deputy Chair of the SSAA said, “This is an exciting period with tremendous growth opportunities for self-storage in Asia. Land scarcity coupled with rising affluence and a strong demand base comprising middle-income families, a sizeable expat population and thriving SMEs (Small and Medium Enterprises) will fuel the demand for self-storage services in key markets like Singapore and Hong Kong. Currently the penetration rate is only about 0.3 sf/person in both countries, which is significantly lower than that in more established markets such as the US and Australia. There is much room for growth. The Expo is positive for the healthy and strong growth of the industry and community, and provides a dynamic platform for industry players to get up-to-date information, business opportunities and network under one roof.”

The opportunity to learn and grow was a big theme throughout the three days. “The numbers speak for themselves and yes, the industry in Asia is teeming with opportunities for suppliers and facility owners. While Singapore may not reach 7.8 sf/person of self storage like in the US, the amalgamation of a consumer driven society and continually smaller apartments – as well as only 0.3 sf/person of self storage – means that Singapore and Hong Kong, and the rest of Asia for that matter, is poised for growth in this industry,” Ms Ng emphasised.

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