Update 4/1/15 – Officials from Hongkong Storage and other invited speakers characterized the Hong Kong self-storage market as one poised for increased development during the company’s investment seminar earlier this week.
The barrier for entry for industrial-building investments in Hong Kong is less than that for residential properties, with an average rate of $3,000 to $6,000 per square foot, according to Diamond Shea, chairman of the Hong Kong Owners Club, a community organization. With plenty of unused industrial properties available in the region, the current market reflects that “local proprietors are not fully grasping the industrial-building investment potential and overlooking other development possibilities,” Hongkong Storage officials said in a press release.
The availability of industrial property in Asia is peaking as spending power among the middle class is growing, according to Luigi La Tona, executive director of Self Storage Association Asia, who also spoke during the event. As middle-class income has grown, the size of living quarters has gradually become smaller, increasing a need for self-storage, he said.
To help entice potential investors, Hongkong Storage announced it is launching a new plan for its third-party property-management service called the Self Storage Management Agreement. Under the framework of the service, “Hongkong Storage will take full responsibility in designing storage rooms, interior decorating, sales service, customer service and operations management,” according to the release.
Louis Chung, managing director of Hongkong Storage
Louis Chung, managing director, (left) and Bobby Chung, chairman, of Hongkong Storage
3/18/15 – Hongkong Storage, a self-storage operator offering traditional and valet-style storage services to the Hong Kong region, will host a seminar on March 30 titled "Essential Elements of Strategic Investment in Industrial Properties & Self Storage in Hong Kong." The event will focus on strategic property management and investment including an examination of market potential, supply and demand, regulations, and development best practices, according to a press release.
The presentation will also cover third-party management and its benefit to property owners, as well as the potential for generating additional revenue through innovative equity partnerships, company officials said.
The event will be split into two sessions, with the first discussing strategic-management services. This portion will be presented in Cantonese by Louis Chung, director of Hongkong Storage. The second portion focusing on investment channels and returns will be presented by Bobby Chung, company chairman. His presentation will be in English and supplemented in Cantonese and Putonghua (Mandarin).
The seminar will be held in the Shantung Room at the Langham Place Hotel in Mongkok, Kowloon. Participants can register to attend either or both sessions.
In addition, Luigi La Tona, executive director of Self Storage Association Asia (SSAA), will speak during a media session on self-storage industry practices and the business concerns of storage-property owners, according to the release. SSAA is a trade association dedicated to assisting self-storage operators and industry suppliers working in emerging markets along the Pacific Rim.
Founded in 1997, Hongkong Storage operates 15 self-storage facilities in the Hong Kong region and also offers valet-style pickup and delivery services through its Yes-Storage program.
- Hongkong Storage: Website
- Virtual Press Office: Hongkong Storage to Host Self-Storage Investment Seminar