is taking off in the city.
City life can sometimes feel like being crushed sardines in a tin box, where living and storage space is narrow and limited. But this nuisance presents a business opportunity to offer space for storage…
But this nuisance presents a business opportunity to offer space for storage and valuable assets, with around-the-clock security and easy transport access.
Storage space rental has been a business in the US for more than 60 years, for 20 and 10 years in Hong Kong and Singapore, respectively
For Thailand, it has been around less than a decade.
Pakdee Anivat, chief executive and founder of Storage Asia Co, sees growth opportunities in the segment.
With a business venture in mind, Mr Pakdee left his job at an IT data centre to establish Storage Asia, operating under the i-Store brand.
i-Store opened its first branch in Silom district a year ago, and launched a second branch in Sukhumvit Soi 24 four months ago.
The occupancy rate for rental storage space at the Silom branch is around 60% and 30% for the Sukhumvit Soi 24 branch.
In Hong Kong, where demand for rental storage is high, there are around 400 facilities for rental storage, with Singapore having around 100 facilities, said Mr Pakdee.