JWD InfoLogistics Public Company Limited (JWD) announced its determination to become the undisputed leader in the self-storage business with the strategy to expand branches in Bangkok and key provincial cities to reach 30,000 square meters of storage capacity by 2024 to support demand arising from the trend of reduced living spaces and growth of eCommerce that have supported the demand for storage for personal effects and merchandise. The Company has completed the acquisition of “My Storage” business in Phuket to be ready for future business opportunities. Currently, storage customers in Phuket already accounted for 40 percent of the capacity, while the Company aims to expand the Thai customer base. JWD’s total self-storage capacity presently stands at 12,000 square meters.

Mr. Charvanin Bunditkitsada, Chairman of the Executive Committee and CEO of JWD InfoLogistics Public Company Limited (JWD), ASEAN’s recognized expert in logistics and supply chain, announced that the Company has set in motion the plan to become the undisputed leader in the self-storage business through the expansion of branches in Bangkok and in key cities in the provinces, concentrating in high-potential locations such as business and economic centers, high-density residential areas, etc., so as to increase the amount of rentable space to 30,000 square meters by 2024, according to the Company’s business strategy that calls for an income of 240 million baht realized from this business based on 80-percent average occupancy of the total rentable space.

The Company decided to expand investment in the self-storage business following a study that indicates the constantly increasing demand for personal storage due to the hugely growing preference for condominium living with the accompanying limitation of usable spaces compared to single houses or townhouses. Therefore, there is a demand for safe and secured storage spaces for personal effects. Moreover, there is also the supporting factor of the expansion of eCommerce businesses and the sale of merchandise through social media platforms that require spaces to stock the merchandise that must also be safe and conveniently accessible.

JWD Chairman of CEO further added that most recently the Company has initiated its expansion into major provincial cities through JWD Store It Company Limited, a 89-percent JWD-owned subsidiary, by acquiring 100 percent in Store Guard Company Limited, the business operator of “My Storage Self Storage” (My Storage) located within Jungceylon Shopping Center in Kathu District of Phuket. My Storage remains the only self-storage service provider in Phuket.

My Storage project consists of a 3-story building where the first phase of development on the 1st and 2nd floors with a total floor space of 1,168 square meters is operational, while the vacant space on the 3rd floor is awaiting the phase 2 of development. The average rental price of storage space in Phuket is rather high compared to the average self-storage rental rate in Bangkok’s CBD.

“The factor that has led to the investment in ‘My Storage Self Storage’ is the existing contracted customer base that accounts for about 40 percent of the total available space. Therefore, the realization of income is immediate upon investment. At the same time, the contracted rental period with Jungceylon Shopping Center will run for another 18 years, while its location is one with the highest potential in Phuket with no competitor in the same business in the area. Although Phuket’s overall economic situation is now being impacted by COVID-19 situation and foreign tourists are still not allowed entry, we are looking at future business opportunities when foreign tourists return, and the economy begins to revive. At the same time, we are also putting in motion the strategy to attract larger Thai customer base,” Mr. Charvanin said.

Following the acquisition of My Storage business in Phuket, JWD STORE IT will have a total self-storage space of 12,000 square meters with six branches, especially with five already operational, namely, Sri Kreetha (Krungthep Kreetha), Siam (near BTS National Stadium Station), Ramindra, Thiam Ruam Mit, and Rama 9 which is the latest branch that opened for business in July of this year and has received tremendous response from customers in Ramkhamhaeng, Ekamai and Thonglor both residential and business operators who have continuously sought to rent storage spaces.