[Golden Brand Award] Responding to Diverse Needs to Meet Competition, Steadily Building a Self-Service Storage Brand in Ten Years | Lianhe Zaobao

In land-scarce Singapore, the demand for "housing" items is surging, and the self-storage industry is also facing challenges of space shortages, with competition becoming increasingly fierce. However, Wang Zhibin, president of LHN Group's self-storage company (Work+Store), believes that providing customers with reasonable prices and high-quality storage space will remain their top priority in future expansions. Founded in 2015, LHN Group's self-storage company has been awarded the Singapore Golden Brand Award for the third consecutive year—an established brand. Wang Zhibin told Lianhe Zaobao that compared to last year, this award not only recognizes the company's growth but also serves as a strong testament to the trust that storage customers have placed in the company over the years. In the fiercely competitive Singapore real estate market, the storage industry, as a sub-sector, also faces challenges, with the most pressing being how to find suitable storage facilities at the most appropriate cost. A report on the self-storage market in the Asia-Pacific region for 2025, jointly released by Jones Lang LaSalle (JLL) and the Self Storage Association Asia (SSAA), shows that Singapore and Hong Kong are the markets with the highest proportion of self-storage in Asia-Pacific industrial buildings. This also means a more crowded field and intensified competition. By 2025, Singapore's self-storage space occupancy rate is expected to reach 84%, up from 82% the previous year, with retailers and startups becoming the largest segment of commercial users. In the face of fierce competition and rising costs, Wang Zhibin firmly believes that serving customers well is the "foundation" of the brand. He stated in an interview that even though the company is in an expansion phase, maintaining a good balance between continuing to offer reasonable prices and ensuring the quality of storage space is their primary task when planning for growth. "To address these challenges, we will adopt a prudent expansion strategy, redesign existing spaces, and carefully explore the next suitable location. At the same time, the company will continue to study customer demand trends based on the emerging artificial intelligence (AI) technology to better predict demand and optimize our storage solutions." Long-term Focus on Local SMEs Providing Flexible Rental Storage Solutions Further Reading 【Golden Brand Award】Great Support for SMEs, Huge Potential for Storage Facilities [【Golden Brand Award】Winning Industry Recognition with Strength, Female President Leads Company to Become a Leader in Raised Floor Industry ![](https://dss0.zbstatic5.com/s3fs-public/styles/article_small_crop/public/articles/2026/01/02/SPEN4565.JPG? Wang Zhibin is not intimidated by the intensifying industry competition. In an interview, he pointed out that one of the company's advantages in the current market context is its long-term focus on local small and micro enterprises; the company offers a range of flexible rental warehouse solutions, allowing businesses to choose short or long rental periods based on their needs. In addition to storage services, LHN Group's self-storage company has also begun to provide services such as "packaging stations" or "last-mile delivery stations," making it easier for e-commerce companies to send packages and simplify operations. Wang Zhibin pointed out that one of the company's advantages in the current market context is its long-term focus on local small and micro enterprises; the company offers a range of flexible rental warehouse solutions, allowing businesses to choose short or long rental periods based on their needs. (Photo by Wu Fuliang) This long-term focus has also made them aware of the more diverse storage needs of self-storage users. Wang Zhibin said that especially in 2025, more customers are beginning to choose storage solutions with lower temperatures or temperature control functions to protect items from high temperatures and humidity, particularly for items like wine. As of the end of the fiscal year on September 30, 2025, LHN Group's self-storage company has established seven storage facilities across the island, with a total of 2,000 storage units. Additionally, the company's revenue growth from 2022 to 2024 has reached 48%. Both of these figures are higher than the level when they were awarded the Golden Brand Award the previous year. Wang Zhibin revealed that the company plans to continue expanding its storage facilities in Singapore this year, increasing more air-conditioned storage services to meet the more diverse needs of businesses and individuals: "We will prioritize sustainable growth and expand service capacity in areas with high demand." Furthermore, Wang Zhibin mentioned in the interview that although it is a subsidiary of LHN Group, which also includes the co-living brand Coliwoo, LHN Group's self-storage company currently has no plans for an IPO. Even with rapid business growth, Wang Zhibin stated that the company's primary task remains to strengthen core operations, expand storage solutions, and enhance user experience