JTC reviewing self-storage operators’ use of industrial space
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JTC Corporation has started a review of the self-storage industry, which some players said could throw a spanner in the works for their expansion plans.
Responding to queries from The Business Times (BT), JTC said: “In view of increasing demand from self-storage players to operate in industrial spaces, we are conducting a review to ascertain the impact on our industrial estates.”
Tricia Song, head of research in South-east Asia at CBRE, said JTC industrial land is primarily meant for manufacturing activities or business-to-business purposes, while self-storage runs on a business-to-consumer model, which “can or should be seen as a retail or commercial activity”.
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