RedBox Becomes First Asia Self-Storage Operator to Receive Gold-Level Safety Certification

RedBox Storage Ltd., which operates five self-storage facilities in Hong Kong, has become the first company to receive gold-level certification from the Self Storage Association Asia (SSAA) as part of its safety-standards certification program. The designation was given to two facilities, one in Chai Wen and another in Tuen Mun. It’s valid for three years, according to a press release.

Using the acronym SAFE, which stands for “Self Storage Assured Fit-Out Endorsement,” the SSAA program is designed to promote regulatory compliance, best practices and accountability. The RedBox facilities that were recognized have been approved as compliant with regulations by the governmental Building Department (BD) and Fire Service Department (FSD). The self-storage operator is now working toward compliance at its other properties, the release stated.

“Working in concert with solutions proposed by relevant Hong Kong government bodies, we believe the SAFE program will reinforce transparency and increase customer confidence,” said Simon Tyrrell, executive chairman of RedBox. “It will establish recognized standards of compliance that landlords, bankers, insurers and prospective investors apply to all operators. Ultimately, we aim to redefine the self-storage industry as a trusted partner of the stakeholders it serves.”

SAFE accreditation validates the operator and confirms its core practices, said RedBox CEO Tim Alpe. “In most cases, we are handling our customers valuables, and often they are keepsakes that have intrinsic value. At its core, our business is based on trust; how you establish that trust is crucial,” he said. “Obviously, it helps to have a good track record. But these days our customers have become more and more discerning, which is why it’s important to have an independent valuation system in place that is respected by both consumers and the industry itself to provide that added transparency.”

Established in 2007, RedBox operates a portfolio of 400,000 square feet in more than 4,500 units in Chai Wan, Shatin, Tsuen Wan, Tuen Mun and Yau Tong. InfraRed NF, a Hong Kong-based real estate investment fund operated by a joint venture, acquired a 90 percent stake in the company in 2018.

Source:
RedBox Storage, Living Up To The New – Official – Gold Standard In Self Storage