It may not be the most glamorous business in Dubai, but storing other people’s furniture, household belongings and office equipment is proving to be a promising opportunity.
Storage.ae, a Dubai-based storage company, has increased its customer base by 35 per cent over the past 12 months, even as regional conflict and economic uncertainty test businesses across the region, according to its owner and CEO Malek Barghout.
The privately owned company, which has operated for about two decades without outside funding, has also expanded its storage capacity by 28 per cent over the same period, reflecting growing demand from residents and businesses seeking additional space.
The expansion highlights a less conspicuous corner of Dubai’s economy, where a mobile expatriate workforce, frequent residential moves and changing lifestyles are creating opportunities for businesses that cater to the practical demands of urban living.
Companies are an increasingly important part of that demand. Businesses now account for 40 per cent of Storage.ae’s customers, using its facilities to store merchandise, stock, archives, office furniture and equipment. Households make up the remaining 60 per cent, typically seeking storage when relocating, renovating their homes, travelling for extended periods or downsizing.
“Most people still think of storage as somewhere you put your sofa between apartments,” Barghout told Gulf News.
