Singapore, April 23, 2024 – StorHub Group (“StorHub” or “the Company”) today announced that Raju Ruparelia has joined as the CEO of the Company, succeeding Mike Hagbeck, the Group’s Co-founder and CEO over the past five years. Mr. Hagbeck will become the non-executive Chairman of the Company and remain a Board Director to help guide the long-term strategy and continued market expansion, leveraging his 25+ years of experience in Asia’s self-storage industry. 

Raju brings over two decades of invaluable experience as well as a proven track record of driving business growth and transformation. Previously, Raju served as Senior Managing Director and Head of APAC Private Capital at Ontario Teachers’ Pension Plan Board (OTPP), where he oversaw the firm’s direct private equity investing activities across the region, including its real estate related investments into DTZ, Cushman & Wakefield and Princeton Digital Group.  

Launched in 2019, the StorHub Group has expanded rapidly across key gateway cities in Asia Pacific. Through a buy-and-build strategy, the Company has acquired and developed more than 470 stores, covering a GFA of 6.8 million square feet and encompassing over 70,000 storage units. Today, it is APAC’s largest multi-country self-storage platform with nearly 50,000 customers across 17 cities in Australia, Greater China, Japan, Malaysia, Singapore, South Korea and Thailand and boasts a fully integrated platform with capabilities to source, convert/acquire, and operate. 

**Li Fan, Managing Director of Warburg Pincus,** said, “StorHub has quickly emerged as the leading self-storage platform in Asia Pacific, and it is a real credit to Mike and the entire StorHub team. We would like to thank Mike for his strong partnership and contribution to the Company’s first phase of growth.  We have built a very strong foundation and look forward to working closely with him as Chairman to support Raju and the team on the Company’s next phase of accelerated growth.  We are excited to welcome Raju to spearhead the continued business expansion and take the Company to new heights.”  

**Raju Ruparelia, StorHub CEO,** said, “I am excited to lead StorHub as the Company enters its next phase of growth. It’s truly impressive that StorHub has emerged to become the prominent player in the self-storage industry in Asia Pacific over the past five years. Driven by multiple favorable tailwinds, I firmly believe that the self-storage industry in Asia Pacific is at an inflection point.  With a deep and talented leadership team and the unwavering support of its investors, StorHub is uniquely positioned to capitalize on what is expected to be a multi-decade opportunity for self-storage in the region. I’m delighted to be part of this exciting journey and look forward to working with the exceptional teams across the region to accelerate the growth of the business and bring significant value to our customers and partners.”

**Mike Hagbeck, StorHub Non-Executive Chairman**, said, “It has been an amazing journey of growth and partnership over the past five years with the Company. Drawing on Warburg Pincus' extensive experience in scaling regional platforms, StorHub has achieved outsized growth in size and scale across the region and built a high-caliber leadership team with significant industry experience and deep local market insights. After 25+ years at the frontline of the industry, I am pleased to pass the reins over to Raju and look forward to supporting him and the management team in continuing to grow strongly in StorHub’s next phase of development.”
 
**About StorHub Group**

StorHub Group is a leading self-storage platform in Asia with operations across key gateway cities in the Asia Pacific region. Founded in Singapore in 2019, StorHub Group currently owns and manages facilities spanning over 655,000 sqm of GFA and encompassing 70,000 storage units across key markets in Australia, Japan, Malaysia, Singapore, South Korea, and Greater China. StorHub offers individuals and businesses a range of reliable and secure storage solutions to resolve storage challenges at home or work.

**Media Contact**

Lisa Liang, Senior Vice President, Asia Head of Marketing and Communications, Warburg Pincus
lisa.liang@warburgpincus.com



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StorHub Group Names Raju Ruparelia as CEO to Lead its Next Chapter of Growth 

- With five quality seed assets, StorHub has entered the Australian self-storage market and is set to become one of the fastest growing self-storage platforms in Australia 
- Simon DeGaris, a 17-year veteran in Australia’s self-storage industry, has been appointed CEO of StorHub Australia
- The expansion into Australia further accelerates StorHub’s pan-Asia growth strategy and adds to its 655,000 sqm of facilities located in gateway cities across 7 markets in APAC 

Sydney/Singapore, March 7th, 2024 – StorHub Group (“StorHub”), Asia’s leading self-storage owner and operator, today announced its expansion into the Australian market with the launch of StorHub Australia, which is backed by a USD300 million (AUD460 million) equity commitment. Simon DeGaris, an industry veteran with nearly 20 years of experience in a variety of roles, including at Kennards Self Storage, has been appointed CEO of StorHub Australia. The platform in Australia is seeded with five quality assets in Sydney, Melbourne, and Canberra, with a combined Gross Floor Area (GFA) of 56,210 sqm, establishing itself to become one of the leading self-storage platforms in Australia. 
Founded in 2019 by Warburg Pincus, StorHub has emerged as APAC's largest multi-country self-storage platform through a buy-and-build strategy. StorHub boasts an end-to-end integrated platform with capabilities to source, convert/acquire, and operate. Over the past four years, StorHub has acquired and developed more than 480 stores, covering a GFA of 655,000 sqm and housing over 70,000 storage units. It serves nearly 50,000 customers across 17 cities in Singapore, Japan, Malaysia, South Korea, Mainland China, Hong Kong SAR, and now, Australia. With deep local market experience, StorHub also leverages management with expertise from the industry's largest players, including Shawn Weidman, former Chief Operating Officer of Public Storage who now sits on the Board of StorHub, and Patrick Vanderpool, a former Public Storage executive and the current Chief Operating Officer of StorHub. 

Australia marks the 7th market of StorHub's regional expansion. StorHub Australia is seeded with five strategically located quality assets - Rouse Hill, Alexandria, Miranda in Sydney, Clifton Hill in Melbourne and a site in Canberra, acquired since 2023. StorHub Australia’s first operating site in Rouse Hill, with a GFA of 12,300 sqm was opened in August 2023. Moving forward, StorHub Australia plans to further expand its footprint in gateway cities such as Sydney, Melbourne, and Brisbane through strategic acquisitions and developments, capitalizing on a robust pipeline of opportunities. 
Upon the full rollout of its state-of-the-art technology platform, StorHub Australia is committed to providing Australian customers with best-in-class service and experience, including 24/7 accessible modern storage facilities that are conveniently located, safe and secure. Besides the self-storage facilities offered to individuals, StorHub Australia also provides tailored self-storage solutions and value-adding services to small- and medium-sized enterprises (SMEs) that include co-working spaces, free Wi-Fi, and printing services. 
[Simon DeGaris](https://www.storhub.com/who-we-are/our-people/simon-degaris) has been appointed as Chief Executive Officer of StorHub Australia, bringing nearly two decades of invaluable expertise in the self-storage markets of Australia and New Zealand, including from Kennards Self Storage. 

**Simon DeGaris, CEO of StorHub Australia**, commented, “I am excited about the opportunity to lead StorHub in Australia.  The self-storage industry in Australia is at an inflection point, driven by multiple favourable tailwinds, including record population growth fuelled by immigration and attractive demographics, increasing residential density, and evolving working from home conditions. These factors are creating a greater demand for modern, flexible and well-located self-storage.”

“StorHub is already a dominant player in Asia’s self-storage in industry and it’s a natural step for StorHub to expand into and grow in Australia. With the conviction of the growth prospects of the industry, support from Warburg Pincus and our strong value propositions to the customers, we believe StorHub Australia is well poised to become one of the leading self-storage platforms in the country,” Simon said.  

StorHub Group was launched in 2019 by Warburg Pincus, a leading global growth investor, which has played a critical role in driving the growth and expansion of StorHub Group across the region, leading to an eightfold increase in GFA over the past four years. As one of APAC's largest real estate investors with over USD8 billion of capital across 70 investments, Warburg Pincus has a proven track record of quickly and effectively scaling regional real estate platform businesses. Warburg Pincus is also the co-founder of ESR, which has grown to become Asia's largest real asset fund manager since its establishment in 2014. ESR launched ESR Australia in 2018, led by industry veteran Philip Pearce, which has since witnessed remarkable growth in AUM, reaching AUD15.4 billion within a five-year span. 


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Warburg Pincus-backed Self-Storage Platform, StorHub Group Launches Business in Australia, with Five Quality Seed Assets and USD300 Million of Equity Commitment

Singapore, 18 January 2024 – StorHub Self Storage Group (StorHub), Asia Pacific’s leading self storage platform, announced that the company has achieved certification in Arc Skoru and is on track to achieve Leadership in Energy and Environmental Design v4.1 Operation and Maintenance (“LEED v4.1 O+M” or “LEED”) certification for the largest collection of self storage facilities in Singapore. StorHub has partnered with GreenA Consultants and UnaBiz, to achieve the certification, marking the beginning of StorHub’s journey to green certify the company’s portfolio of properties throughout the region, including Australia, Greater China, Japan, Korea, and Malaysia.

LEED certification is a globally recognised symbol of sustainability achievement, and it is backed by an entire industry of committed organisations and individuals paving the way for market transformation. Its adaptability in reporting standards across various countries and regions is the key selection criterion for StorHub, as it aligns with their global ESG compliance strategy. Green building certifications such as Green Mark, BREAM, NABERS, Green Star and WELL, are also used to assess and recognise buildings which meet certain sustainability standards.

To meet the rigorous requirements of LEED certification, StorHub partnered with GreenA Consultants as the green building consultant to look at multiple energy strategies reduction and digital-led smart enabling solutions to push energy optimisation. This will in turn enable a smart integrated Facilities Management operation across the global portfolio with strategic energy management solutions.

Apart from energy emissions, water, waste, and indoor air quality are targeted for improvement in all the developments. Smart monitoring is critical in understanding improvement needed in the future and to continuously strive for reduction in emissions.

Other sustainability initiatives include a roof garden, hydroponics, and innovative engagements with the community at large that set StorHub apart from other businesses. StorHub continues to give back to society through striving towards the company’s sustainability goals.

By leveraging on UnaBiz's expertise in digitalisation and IoT, the trio created a connected ecosystem that collects precise electrical and water consumption dataand indoor air quality metrics via Milesight’s LoRaWAN Certified 9-in-1 indoor air quality sensors in all StorHub’s 18 properties in Singapore.

With support from GreenA Consultants, StorHub was able to meet the stringent certification requirements for Arc Skoru in line with LEED certification by implementing various sustainable practices, thus aligning StorHub’s progression to become the largest LEED certified portfolio of self storage buildings in Singapore , and the first to integrate multiple sites with the Arc Skoru performance platform, a sustainability reporting tool, to measure the LEED impact of StorHub’s sustainability efforts.

Through a wireless retrofit solution, the project was completed in 2 phases, with quick installation turnaround time and no costly infrastructure overhaul. The utility consumption data and environmental data required for LEED certification is then seamlessly fed into this sustainability reporting tool.

StorHub actively aligns with the city-state's commitment to environmental sustainability. The self storage operator’s on-going sustainability initiatives include:

I. Installing solar PV panels with a capacity of 2.34 MW(p), planned to expand to 3.02 MW(p) by early 2024, covering about 25% of StorHub's total energy needs;

II. Increasing the number of electric vehicle charging points from 14 to 32 stations by early 2024;

III. Setting up recycling facilities at 18 properties to collect and reuse more than 35 tonnes of recyclables; and

IV. Implementing various other measures to enhance energy efficiency.

To support the Singapore Green Plan 2030, StorHub has secured a SGD180 million sustainability-linked loan (SLL) from CIMB and UOB. This is unprecedented in Asia's self storage industry, positioning StorHub as a pioneer in the industry that commits to long-term sustainability efforts.

Mr Mike Hagbeck, Group CEO of StorHub, said "At StorHub, we believe in the power of collaboration and innovation to drive measurable sustainability goals. We are committed to integrating ESG principles across our facilities in the Asia Pacific. Working with GreenA Consultants and UnaBiz enables us to structure the sustainability efforts and collect reliable and accurate data for compliance with reporting standards like LEED to facilitate audits and certifications, and to create self storage facilities that add value to our customers, investors, partners, communities, and a greener environment."

Ms Farizan d’Avezac de Moran, Senior Partner at GreenA Consultants commented, "StorHub’s leadership commitment to sustainability and innovative practices has enabled us to push forward with the implementation across multiple assets in the most cost effective and efficient manner. Being the largest self storage asset owner, StorHub has shown all-round commitment to sustainability beyond energy and has included strong social and governance action. Together, we are making beneficial positive environmental and economic impact in the self storage industry."

Mr Jonathan Tan, Managing Director of UnaBiz Singapore said, "We are proud to be part of this milestone project, which showcases the possibilities of digitalisation and IoT technologies in driving sustainability. GreenA’s expertise in implementation of sustainable practices for net-zero and net-positive energy buildings coupled with UnaBiz's end-to-end IoT solutions, help StorHub collect fit-for-purpose data which can be benchmarked for sustainability reporting and green certifications."

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StorHub, GreenA Consultants and Unabiz partner to achieve Green certification for the largest portfolio of self storage facilities in Singapore

Singapore, 12 January 2024 – In reflection of the high demand for residential space in Singapore, 60% of Singaporeans agree that they can be more productive if they have more space at home for work or study. 80% of Singaporeans value an additional 100 square feet (sq ft) of space (about the size of a HDB room) at home at between S$250 and over S$1,000 a month.

These were among the key findings of a survey commissioned by StorHub Self Storage Group (StorHub), Asia Pacific's leading self storage platform, to ascertain Singaporeans’ perceptions of and attitudes towards space. The survey is a follow-up to StorHub’s inaugural survey in 2021.

This comes as the average household size in Singapore has been decreasing – from 3.75 persons per household in 1997 to 3.09 persons in 2021. As a result, the mix of Housing & Development Board (HDB) flats has changed. Where four-room HDB flats used to be the smallest type in the past, they are the average flat type today. Smaller flats such as two-room Flexi and three-room flats have reduced the average size of residential space. The average HDB flat size reached a peak in the 1990s at about 1,400 sq ft, before dipping to about 970 sq ft by the mid-2010s.

"As a limited and highly sought-after commodity in Singapore, residential space is greatly prized, and these findings underscore the strong demand we are seeing for self storage as an extension of people’s physical space beyond their homes. Self storage provides valuable space for companies, small business owners and solopreneurs, in turn boosting their business growth. For families and individuals, it also provides space that helps them declutter their homes and enables the pursuit of their passions and hobbies – be it collecting curios, toys, wine, or any other interests they may have," said Luigi La Tona, Group Director of Operations, StorHub.

The survey, which covered more than 1,000 respondents based on demographic representation, also found that 62% of Singaporeans cleaned up or decluttered their homes to make space for home offices during the COVID-19 pandemic. As hybrid work arrangements have become entrenched, 70% of them have retained their home office even after COVID-19 became endemic.

Strikingly, the survey found that bedrooms (46%), storage rooms (41%) and kitchens (33%) were the three most challenging areas in a home to keep organised, with limited space cited as the reason for this. If they had additional space, 39% would use it for storage to be more organised, 33% would use it as a workout area to do exercises and 32% would expand their living or recreational area. About 20% of Singaporeans would use this space to earn more money, either by renting it out or starting a home-based business.

## More space, better quality of life
Nearly half of Singaporeans (47%) would consider renting additional storage space to declutter and free up space at home, while 35% would use it to store seasonal or infrequently used items.

"These findings emphasise that more space improves the quality of life of Singaporeans. It reiterates the point that self storage helps businesses and people organise their space better. This leads to higher productivity and hence monetary gains, as well as improved physical and mental health," La Tona said. "We are pleased that we have been fulfilling Singaporeans’ self storage needs over the past 21 years and look forward to continuing to do our utmost in serving the community by catering to their lifestyle needs and aspirations through our self storage solutions."

60% OF SINGAPOREANS SEE PRODUCTIVITY BOOST WITH MORE SPACE AT HOME: STORHUB SPACE SURVEY
Issue: Jan 2024
60% of Singaporeans see productivity boost with more space at home: StorHub Space Survey
80% say 100 sq ft of additional space is worth from S$250 to over S$1,000 a month

Singapore, 12 January 2024 – In reflection of the high demand for residential space in Singapore, 60% of Singaporeans agree that they can be more productive if they have more space at home for work or study. 80% of Singaporeans value an additional 100 square feet (sq ft) of space (about the size of a HDB room) at home at between S$250 and over S$1,000 a month.

These were among the key findings of a survey commissioned by StorHub Self Storage Group (StorHub), Asia Pacific's leading self storage platform, to ascertain Singaporeans’ perceptions of and attitudes towards space. The survey is a follow-up to StorHub’s inaugural survey in 2021.

This comes as the average household size in Singapore has been decreasing – from 3.75 persons per household in 1997 to 3.09 persons in 2021. As a result, the mix of Housing & Development Board (HDB) flats has changed. Where four-room HDB flats used to be the smallest type in the past, they are the average flat type today. Smaller flats such as two-room Flexi and three-room flats have reduced the average size of residential space. The average HDB flat size reached a peak in the 1990s at about 1,400 sq ft, before dipping to about 970 sq ft by the mid-2010s .

"As a limited and highly sought-after commodity in Singapore, residential space is greatly prized, and these findings underscore the strong demand we are seeing for self storage as an extension of people’s physical space beyond their homes. Self storage provides valuable space for companies, small business owners and solopreneurs, in turn boosting their business growth. For families and individuals, it also provides space that helps them declutter their homes and enables the pursuit of their passions and hobbies – be it collecting curios, toys, wine, or any other interests they may have," said Luigi La Tona, Group Director of Operations, StorHub.

The survey, which covered more than 1,000 respondents based on demographic representation, also found that 62% of Singaporeans cleaned up or decluttered their homes to make space for home offices during the COVID-19 pandemic. As hybrid work arrangements have become entrenched, 70% of them have retained their home office even after COVID-19 became endemic.

Strikingly, the survey found that bedrooms (46%), storage rooms (41%) and kitchens (33%) were the three most challenging areas in a home to keep organised, with limited space cited as the reason for this. If they had additional space, 39% would use it for storage to be more organised, 33% would use it as a workout area to do exercises and 32% would expand their living or recreational area. About 20% of Singaporeans would use this space to earn more money, either by renting it out or starting a home-based business.

More space, better quality of life
Nearly half of Singaporeans (47%) would consider renting additional storage space to declutter and free up space at home, while 35% would use it to store seasonal or infrequently used items.

"These findings emphasise that more space improves the quality of life of Singaporeans. It reiterates the point that self storage helps businesses and people organise their space better. This leads to higher productivity and hence monetary gains, as well as improved physical and mental health," La Tona said. "We are pleased that we have been fulfilling Singaporeans’ self storage needs over the past 21 years and look forward to continuing to do our utmost in serving the community by catering to their lifestyle needs and aspirations through our self storage solutions."



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60% of Singaporean see productive boost with more space at home: StorHub space survey

Corporate website

2024

StorHub Group Names Raju Ruparelia as CEO to Lead its Next Chapter of Growth

Warburg Pincus-backed Self-Storage Platform, StorHub Group Launches Business in Australia, with Five Quality Seed Assets and USD300 Million of Equity Commitment

StorHub, GreenA Consultants and Unabiz partner to achieve Green certification for the largest portfolio of self storage facilities in Singapore

60% of Singaporean see productive boost with more space at home: StorHub space survey

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