Asia-focused Self-storage Platform

CLI has partnered APG to establish an Asia-focused self-storage platform that rides on the growing demand for self-storage services in Asia, fuelled by high urbanisation rates, high population density, an increasing proportion of renters and an explosive growth of ecommerce. Starting with an equity investment of S$570 million with an option to increase up to S$1.14 billion, in the proportion of 90:10 between APG and CLI, the joint venture provides CLI with access to an emerging sector that also contributes towards growing its funds under management and fee-related earnings.

The platform has acquired Extra Space Asia (ESA), one of the region’s largest self-storage businesses with close to 3 million square feet of gross floor area across about 100 facilities in seven Asian gateway cities – Hong Kong, Kuala Lumpur, Osaka, Seoul, Singapore, Taipei and Tokyo. The acquisition of ESA comes with an experienced management team holding a proven track record in sourcing and managing quality self-storage facilities.

Extra Space Asia

Extra Space Asia is the leading self-storage provider in Asia. Headquartered in Singapore, Extra Space Asia offers storage solutions optimised to cater to individuals and businesses.

Extra Space Asia has presence in Asia covering seven Asian gateway cities – Hong Kong, Kuala Lumpur, Osaka, Seoul, Singapore, Taipei and Tokyo.

Self-storage Services

Extra Space Asia provides highly secured, self-contained storage units, ranging from 6 square feet to 500 square feet with flexible rental periods as short as two weeks.

Each storage unit provides a lock mechanism, and each facility features state-of-the-art 24-hour security systems, including a personal access code system for unfettered access.

Management Capabilities

CapitaLand has deep experience managing investment portfolios alongside best-in-class operating platforms that focus on excellence in asset management, innovation and digitalisation, as well as elevating environmental, social, and corporate governance (ESG) factors.