Self-storage operator Extra Space Asia has expanded its presence by opening an Extra Space Self Storage facility in Kuala Lumpur, Malaysia. The company is owned by Steel Storage Holdings of Australia and already has facilities in Korea and Singapore. Extra Space Asia is not affiliated with the U.S.-based Extra Space Storage Inc.
The Malaysia facility has 123 units that range from 7 square feet to 64 square feet. The units are available 24 hours a day via keypad access. The monthly rental rate ranges from 126 to 1,050 Malaysia Ringgit (about $41 to $343).
Extra Space Asia CEO Michael Hagbeck told the New Straits Times Extra Space chose to expand its operations to Malaysia because the country has similar demographic characteristics as Singapore.
"This is to cater to the growing need of people who want to declutter their space, to make more room for their hobbies and lifestyle or just to store items until a later time," Hagbeck said, adding that the company intends to add onto the facility, growing it to 1,500 units, with climate control and wine storage. He also envisions more Extra Space facilities in Penang and Johor Baru.
Steel Storage has been building self-storage facilities since 1990 and started doing so in Asia in 2003. Extra Space opened its first self-storage facility in Singapore in 2007 and since then successfully developed five facilities in Singapore. In 2010, the two companies completed a facility in Seoul, South Korea.
Along with Steel Storage, Extra Space has partnerships with several self-storage operations around the world: Annexx in France, Big Yellow Self Storage Co. in the United Kingdom, City Storage in Thailand, Kennards Self Storage in Australia and New Zealand, National Storage in Australia and Ready Steady Store in the United Kingdom.