Singapore Volume 9

3 2 | S U P E R B R A N D S V O L U M E I X MARKET Extra Space Asia is the dominant self-storage operator in Asia, offering storage facilities and related services to individuals, families and businesses, in densely populated Asian cities where real estate is limited, and costs are high. Extra Space Asia is a privately-owned business, headquartered in Singapore, and managed by Chief Executive Officer Mr. Kenneth Worsdale. ACHIEVEMENTS As a leading pioneer in the self-storage industry in Asia, Extra Space Asia is: • The first Asian operator to open a self- storage facility in a shopping mall. • The first Asian operator to open large self- storage facilities in Korea and Malaysia. • The only Asian operator to offer wine storage within a self-storage facility in Singapore, Malaysia and Taiwan. • The first wine storage operator to offer wine tasting rooms as a complimentary service to wine customers. • The first Asian provider to offer wardrobe storage specially catered for storing fashion apparels and accessories. • The first non-Japanese self-storage company to enter the Japanese market. Extra Space Asia leads the industry in technology and innovation, utilising an online self-storage operating software that provides real-time information on space availability across different facilities. The company maintains a dedicated call centre to respond to their customer queries, and provide guidance to prospective customers in the selection of facilities, storage unit sizes, quotations and real-time promotions. The majority of facilities are staffed to ensure best-in- class customer service is delivered. HISTORY Founded in 2007, Extra Space Asia opened its first facility in Singapore with 50 customers. The first facility in Korea opened in November 2010 in the district of Gangnam, Seoul. In February 2012, Extra Space Asia opened its first facility in Malaysia in Chan Sow Lin, Kuala Lumpur and in September 2015, expanded its footprint to Hong Kong. In August 2014, the company acquired a majority stake in Storeasy self-storage, the leading self-storage company in Taiwan. Following the acquisition, the Taiwan operator became known as Storeasy by Extra Space. In September 2018, Extra Space Asia entered into a strategic venture with Keiyo Logistics, a self-storage company operating over 75 facilities in Japan, under the brand “Private Box”. Facilities owned by Extra Space Asia are managed by Keiyo Logistics under the brand “Private Box by Extra Space”. Today, Extra Space Asia operates a portfolio of almost 40 facilities in six countries, encompassing a total of over 1.5 million square feet of space and serving more than 12,000 customers in Singapore, Malaysia, Korea, Taiwan, Hong Kong and Japan, with plans underway to penetrate other markets in Asia. PRODUCT Extra Space Asia extends living spaces by safekeeping its customers’ belongings, ensuring that there is always more space at home to live better. The company offers a wide selection of storage solutions. Apart from personal use, business owners today have a more cost- effective, secure and convenient way of storing their goods and records. The company provides highly secure, self- contained storage spaces giving individuals, families and businesses the flexibility to rent space according to their needs. Storage spaces ranging from 16 square feet to 450 square feet are available and rental periods start from two weeks to as long as required. Customers also have the freedom to upgrade or downgrade their storage space at any time.