i-Store has marked a historic milestone for Thailand’s self storage industry following an investment by KPN Real Estate Investment Trust (KPNREIT) in the i-Store Sukhumvit 71 facility, valued at THB 60 million. The transaction represents the first-ever investment by a Thai Real Estate Investment Trust (REIT) in a self storage asset, reflecting growing institutional confidence in the sector’s long-term growth potential and positioning self storage as an emerging alternative asset class within Thailand’s capital market.
Mr. Pakdee Aniwat, Chief Executive Officer of Storage Asia Public Company Limited (i-Store), revealed that on 15 June 2026, KPNREIT completed its investment in the i-Store Sukhumvit 71 project through the acquisition of a 25-year leasehold interest together with related assets, with a total transaction value of THB 60 million. The deal represents a significant milestone for Thailand’s self storage industry and serves as tangible evidence that the sector is gaining recognition from institutional investors.
“The investment by a REIT is not only a success for i-Store, but also a strong endorsement of Thailand’s self storage industry as a whole. Such investments require rigorous due diligence covering location potential, recurring revenue capability, occupancy performance, and cash flow stability,” said Mr. Pakdee.
He added that in developed markets such as the United States, the United Kingdom, Japan, and Singapore, self storage has long been recognized as an income-generating real estate asset capable of delivering stable long-term returns. Self storage assets have been regularly incorporated into real estate funds and REIT portfolios, whereas Thailand’s industry remains in the early stages of development, presenting significant opportunities for future growth.
Self storage businesses benefit from several long-term structural trends, including urbanization, shrinking residential living spaces, the rapid growth of e-commerce, and evolving consumer lifestyles that prioritize efficient space management. These factors have continued to drive increasing demand for self storage services across global markets.
The i-Store Sukhumvit 71 facility is one of the company’s flagship locations, strategically situated in the heart of Bangkok. Since opening, the facility has consistently maintained an occupancy rate exceeding 80%, demonstrating strong customer demand and sustainable income-generating capability. These factors played a key role in KPNREIT’s investment decision.
Today, i-Store operates under its “Supply Drives Demand” strategy, based on the belief that developing high-quality storage facilities in strategic locations helps build market awareness and stimulate long-term demand. The company plans to expand by an additional seven locations, increasing its network to 18 facilities and more than 18,000 square meters of rentable storage space. The expansion is designed to support growing demand from individual consumers, SMEs, and e-commerce businesses, while also positioning the company to enter key tourism destinations in the future.
Mr. Roongyos Janthapasa, Chief Executive Officer of Blue Whale Asset Company Limited, the REIT Manager of KPNREIT, stated that beyond its core asset, KPN Tower, the trust actively seeks investment opportunities in warehouses, industrial buildings, and emerging real estate sectors such as self storage that offer stable cash flow and strong long-term growth prospects.
“Self storage has become an increasingly attractive asset class in many countries, driven by urbanization, smaller residential spaces, and rising demand for storage from e-commerce operators and small businesses. Our investment in i-Store Sukhumvit 71 not only enhances portfolio diversification but also provides exposure to a high-performing asset with a strong customer base and the potential to generate sustainable long-term returns,” Mr. Roongyos said.
Mr. Pakdee concluded that this transaction marks an important first step in connecting Thailand’s self storage industry with the capital market and could serve as a model for future developments involving REITs, asset management structures, and innovative financial instruments.
“This investment creates a foundation for accelerating the growth of Thailand’s self storage industry while unlocking new opportunities for property owners, investors, and operators across the country,” he said.
