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Singapore

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  • Singapore

    A very knowledgable vendor whom I trust to give me good information sees rapid growth and opportunity for self-storage development in Singapore and the region.

    What are everyone else's thoughts on this?
    John Carlisle
    Community Manager Emeritus
    Still a Big Fan of Self-Storage!
    www.chicagoprowriter.com

  • #2
    Re: Singapore

    I've seen some good documentaries lately on Singapore in general...a real up and coming country with a lot of good things going for it, I'm not surprised that storage would do well there.

    Comment


    • #3
      Re: Singapore

      My management company is actually working with a partner on some Asian opportunities. There is a big need for storage there, and almost nothing exists.

      If I had money to invest in building storage, I would very likely invest it somewhere in Asia!
      MamaDuke

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      • #4
        Re: Singapore

        Yes I've heard good crazy stuff pertaining to storage in Singapore!

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        • #5
          Re: Singapore

          很抱歉我有没有钱,没有投资只是梦

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          • #6
            Re: Singapore

            Being based in Singapore, I can confirm that the self-storage industry is indeed developing at a good pace.

            Singapore is a very modern country with 85% of the 5 million strong population falling in the middle class range. Due to the government's plans for growth, housing units are getting smaller to accommodate the expected need (it's only a 272 sq mi country after all). Also worth noting is that Singaporeans live to shop, so consumerism is ever growing. Combine these 2 facts and you can see why self-storage has become very popular in a relatively short period of time.

            The first self-storage facility in Singapore opened in 2003 and the country now boasts 25 facilities (2 of which are currently under construction). But with only 0.22 sq. ft. of self-storage space per person, this market is far from saturated and poised for further growth.
            Last edited by Steel Storage; 13 June 2012, 03:33 AM.

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            • #7
              Re: Singapore

              Originally posted by Steel Storage View Post
              Being based in Singapore, I can confirm that the self-storage industry is indeed developing at a good pace.

              Singapore is a very modern country with 85% of the 5 million strong population falling in the middle class range. Due to the government's plans for growth, housing units are getting smaller to accommodate the expected need (it's only a 272 sq mi country after all). Also worth noting is that Singaporeans live to shop, so consumerism is ever growing. Combine these 2 facts and you can see why self-storage has become very popular in a relatively short period of time.

              The first self-storage facility in Singapore opened in 2003 and the country now boasts 25 facilities (2 of which are currently under construction). But with only 0.22 sq. ft. of self-storage space per person, this market is far from saturated and poised for further growth.
              I'm be curious to know how you handle public lien sales in that country; is there even any laws regarding such a topic?
              Self Storage Marketing Solutions by Fully Charged Marketing Ltd.

              Self storage marketing powered by storage industry insiders.

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              • #8
                Re: Singapore

                Originally posted by Steel Storage View Post
                Being based in Singapore, I can confirm that the self-storage industry is indeed developing at a good pace.

                Singapore is a very modern country with 85% of the 5 million strong population falling in the middle class range. Due to the government's plans for growth, housing units are getting smaller to accommodate the expected need (it's only a 272 sq mi country after all). Also worth noting is that Singaporeans live to shop, so consumerism is ever growing. Combine these 2 facts and you can see why self-storage has become very popular in a relatively short period of time.

                The first self-storage facility in Singapore opened in 2003 and the country now boasts 25 facilities (2 of which are currently under construction). But with only 0.22 sq. ft. of self-storage space per person, this market is far from saturated and poised for further growth.
                Great contribution and info, Steel Storage.

                If you don't mind me asking, what is your role in the industry? Are you an owner/manager/developer/investor? We'd love to hear some more about Steel Storage and Singapore.
                John Carlisle
                Community Manager Emeritus
                Still a Big Fan of Self-Storage!
                www.chicagoprowriter.com

                Comment


                • #9
                  Re: Singapore

                  Thanks for your queries.

                  I work for a company called Steel Storage Asia. We're a self-storage design, manufacture and construction company from Australia, but set-up our office and factory in Singapore in 2003 and then built the first self-storage facility here in Singapore; and we've built a few more since then.

                  When I say build, I actually mean fit-out rather than purpose built. This seems to be the general method here, because (especially in Singapore) land is scarce. So we convert suitable buildings in the right locations into self-storage facilities.

                  The company has really been here since the birth of Asian self-storage, so we've seen the development of the industry right from the start and it's been very exciting to watch and participate in.

                  The biggest difference in the development of self-storage in Singapore compared to America is probably the fact that it didn't start out with mom-and-pop stores. There are 12 operators owning 25 facilities, four of whom own 15 between them. The smallest facility is a wine-storage-only facility with under 50 units, the largest facility has about 3,500 units. By the way, 4% of all units in Singapore are dedicated to wine storage.

                  As for public lien sales, this doesn't apply in Singapore as self-storage doesn't fall under the warehousing act. Tenants sign a self-storage licence rather than an agreement, which stipulates that if they are in default of payment, the operator can sell off their belongings.
                  Last edited by Steel Storage; 18 June 2012, 12:24 AM.

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                  • #10
                    Re: Singapore

                    We work hand in hand with Steel Storage as well in Asia. Most major operators in singapore use Siteli k Web Edition, supported from Australia.
                    Dallas Dogger

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