Extra Space Self Storage of Asia, a privately owned business, expects to open two storage facilities in Hong Kong this month, expanding its operation to five Asian countries. The two new locations are in the Sai Wan and Tsuen Wan districts and will lay the foundation for further expansion in the region, company officials said in a press release.

September 9, 2015

2 Min Read
Extra Space Self Storage of Asia Enters Hong Kong with 2 New Facilities

Extra Space Self Storage of Asia, a privately owned business, expects to open two storage facilities in Hong Kong this month, expanding its operation to five Asian countries. The two new locations are in the Sai Wan and Tsuen Wan districts and will lay the foundation for further expansion in the region, company officials said in a press release.

“We are seeing greater consumer demand for self-storage due to urbanization and lifestyle changes. Hong Kong is certainly one of the leading markets demonstrating this trend,” said Kenneth Worsdale, CEO. “As a leading self-storage provider in the region, we’re excited to bring our brand of personalized, premium self-storage service to Hong Kong with facilities in the Hong Kong Industrial Building in Sai Wan and the Bonsun Industrial Building in Tsuen Wan.”

The Sai Wan facility will comprise 500 units and take up the entire 13th floor of the Hong Kong Industrial Building. The Tsuen Wen facility will also offer 500 storage units and operate from the third floor of the Bonsun Industrial Building. Both properties will have manned reception areas and offer air-conditioning, dehumidifiers and fans to increase customer comfort, the release said. Tenants will access the storage area by using a PIN code, which will also deactivate the individual security system on their units.

Although Extra Space Asia officials acknowledged that Hong Kong is an “extremely competitive market,” they also cited a recent report published by CBRE Global Research as an indicator of swelling consumer demand. CBRE forecast the region will need an additional 3.9 million square feet of rentable storage space to keep pace with demand during the next decade. “The demand will continue to grow in Hong Kong and the region, and our challenge is to increase awareness on the benefits of using self-storage,” Worsdale said. “Such growth potential bodes well for Extra Space Asia, and we are committed to grow the industry across Asia.”

Extra Space Asia opened it first self-storage location in Singapore in 2007 and now operates 26 facilities across Hong Kong, Malaysia, Singapore, South Korea and Taiwan. Its portfolio comprises more than 1.3 million square feet of storage space.

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