UNCOVERING THE DRIVERS BEHIND SINGAPORE’S SELF-STORAGE INDUSTRY

With growing popularity of self-storage space among endusers, new entrants are seeking to venture into the growing market. To date, there are about 27 self-storage operators with more than 80 facilities in Singapore from an estimated eight operators five years ago. Six of the existing operators are identified as major operators1 with Lock + Store Self Storage (Lock + Store) having the most facilities under its operation. With the expanding supply and evolving needs, understanding the demand changes of the self-storage industry becomes ever more essential for existing and potential industry players