AsiaOne news networks reports that Rising affluence and shrinking living spaces have lead to more people keeping their belongings in storage.

Four major players dominate: Extra Space, Lock+Store, StorHub and Store Friendly. Together, they account for 32 of the total self-storage facilities and supply about 83 per cent of the total number of self-storage units islandwide.

All say their businesses have grown over the years. And to meet the demand, they have expanded their facilities.

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Boom in self-storage industry, News, News, AsiaOne Business News.