Singapore Volume 11

| S U P E R B R A N D S V O L U M E X I 3 2 MARKET Extra Space Asia is the leading self-storage provider in the region. Headquartered in Singapore and led by Chief Executive Officer Mr Kenneth Worsdale, Extra Space Asia offers storage facilities and services to individuals and businesses primarily in densely populated Asian cities, where real estate is scarce and costly. Today, Extra Space Asia has firmly established its place as the dominant self-storage operator in Asia with over 50 storage facilities, and 1.5 million square feet of space. ACHIEVEMENTS During the first half of 2020, Extra Space Asia opened a total of 9 new facilities in South Korea, Taiwan and Japan, attaining a more geographically diversified footprint. The company also achieved record-high occupancy levels in Singapore and Malaysia in mid-2020. Extra Space Asia’s continuous efforts to become a more sustainable and energy-efficient organisation has led to the implementation and use of solar panels and eco-friendly materials at its facilities, further reducing its carbon footprint. The company is also committed to improving and enhancing the storage experience for their customers. It offers a wide array of storage solutions, from air-conditioned and wine storage units, as well as executive storage units that allow customers to utilise a shared workspace, steps away from their storage units. As a result of the company initiatives, the brand has gained recognition and received accolades from Superbrands and customers alike, and has been awarded Singapore’s Favourite Self-Storage Brand for three consecutive years. Extra Space Asia recognises the importance of digitalisation to maintain and increase its winning edge over its competitors. To that end, the company developed and introduced in Singapore, the first-ever ‘Self-Storage Store Locator’ web portal in the industry. This effectively allows prospective customers to determine which storage facility is closest to them, simply by entering their postal code. Even with advanced systems in place, Extra Space Asia has not disregarded the human and personal touch. The company maintains a dedicated call-centre to respond to customer queries, and guide prospective customers in the selection of facilities, storage unit sizes, quotations and latest promotions. With a wide array of digital communication channels such as live chat and social media messaging, Extra Space Asia provides prompt responses to customers. This strengthens the engagement between company employees and their valued customers. All facilities in Singapore are equipped with top-of-the-line security systems and are staffed with customer service executives who are highly- trained to ensure best-in-class service. HISTORY Established in 2007, Extra Space Asia opened its first facility in Singapore in the IMM shopping mall. In Korea, the first facility was opened in November 2010 in the district of Gangnam, Seoul. To meet the growing demand of self- storage, the company expanded its footprint to Malaysia in February 2012 with their Chan Sow Lin facility and subsequently in Hong Kong in September 2015 with their Sai Wan facility. In August 2014, the company acquired a majority stake in Storeasy Self-storage, the leading self-storage company in Taiwan. Following this acquisition, the Taiwan operator was rebranded as Storeasy by Extra Space. In September 2018, Extra Space Asia entered into a strategic venture with Keiyo Logistics, a key player in the self-storage industry in Japan, with over 75 facilities in Tokyo under the brand “Private Box”. Facilities owned by Extra Space Asia are managed by Keiyo Logistics under the brand “Private Box by Extra Space”. In total, Extra Space Asia has built a portfolio of over 50 facilities in six countries, with plans in the pipeline to expand in existing markets as well as enter other markets in Asia. This regional presence encompasses over 1.5 million square feet of space, serving more than 15,000 customers in Singapore, Malaysia, Korea, Taiwan, Hong Kong and Japan. PRODUCT The wide range of storage solutions offered today is one of the reasons why Extra Space Asia remains the industry leader. Apart from personal use, business owners can also leverage a cost- effective yet safe and secure solution for storing their assets and inventory. Customers can choose storage units ranging from 6 to 500 square feet. The rental period is also highly flexible, starting from two weeks to as long as required. Customers can upgrade or downgrade their storage space at any time. Storage facilities are equipped with state-of- the-art 24-hour security systems, integrated with personal PIN-code access that allows customers access to the facility any day, any time.