Storefriendly Sets New Green Building Benchmark for Hong Kong’s Self-Storage Sector with BEAM Plus Excellence Rating

Storefriendly Self Storage Group has achieved a significant milestone in sustainable building management by securing an “Excellent” rating in the Management aspect of the BEAM Plus Existing Buildings V2.1 Selective Scheme through Portfolio Assessment Mechanism, marking the first time a self-storage operator in Hong Kong has attained such comprehensive green building recognition across multiple properties. The award, presented by Dr. CHEUNG Tin-cheung, SBS, Chairman of the Hong Kong Green Building Council Limited, at a ceremony held at Storefriendly Tower in Lai Chi Kok on January 19, 2026, recognizes the Group’s sustained commitment to advancing sustainable building operations through robust governance, structured systems, and consistent execution across its portfolio.

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Understanding BEAM Plus and Its Significance in Hong Kong

BEAM Plus, which stands for Building Environmental Assessment Method Plus, represents Hong Kong’s leading green building assessment scheme, developed by BEAM Society Limited in collaboration with the Hong Kong Green Building Council. The certification system offers a comprehensive set of performance criteria covering a wide range of sustainability issues including energy use and carbon emissions, climate adaptation and resilience, land use and transport, site ecology, materials and waste, water use, health and wellbeing, pollution management, integrative design, smart technology and innovations.

As of April 2025, the number of BEAM Plus certified projects has increased to 1,996, reflecting the growing adoption of sustainable building practices in Hong Kong and beyond. The certification has evolved from a voluntary initiative to become one of the prerequisites for applying for gross floor area concessions in new building developments since April 1, 2011. More significantly, from June 30, 2024 onwards, the requirement was raised to demand that projects attain specific BEAM Plus ratings, underscoring the Hong Kong government’s commitment to sustainable development.

Since 2016, as Hong Kong began developing green finance infrastructure, BEAM Plus has gradually become one of the most widely adopted green building ratings in green bonds, green loans and other green finance instruments issued in Hong Kong. It also finds extensive application in ESG benchmarking for property developers and asset owners, making it an essential credential for companies seeking to demonstrate environmental responsibility to institutional investors and stakeholders.

The Selective Scheme and Management Excellence

The BEAM Plus Existing Buildings assessment reviews a building’s sustainability performance through multiple key areas including Site, Management, Materials and Waste, Energy Use, Water Use, Indoor Environmental Quality, and Innovation. Within this comprehensive framework, the Management aspect places particular emphasis on responsible management practices and measures that promote sustainable operation of building spaces.

Under the BEAM Plus EB V2.0 framework, applicants can apply for either a Comprehensive Scheme or a Selective Scheme according to their needs, budget and technical capabilities. Under the Comprehensive Scheme, there is a holistic review of the building with four ratings available—Platinum, Gold, Silver or Bronze—after completing the assessment. The Selective Scheme allows applicants to focus on specific aspects where they have demonstrated exceptional performance, as Storefriendly has done with the Management category.

Achieving an “Excellent” rating in the Management aspect validates Storefriendly’s ongoing investment in day-to-day operations management and demonstrates the company’s broader sustainability strategy. This recognition is particularly significant as it represents sustained performance across multiple properties rather than a single building achievement, showcasing the scalability and consistency of the Group’s environmental management systems.

Portfolio Achievement Across Five Strategic Locations

The certification encompasses five strategically located Storefriendly Tower properties across Hong Kong, demonstrating the Group’s commitment to sustainable operations throughout its network. The certified facilities include Storefriendly Tower (Peninsula East) at 82 Hung To Road in Kwun Tong, Storefriendly Tower (Metropolis East) at 13 Yip Cheong Street in Fanling, New Territories, Storefriendly Tower (Island East) at 8 A Kung Ngam Village Road in Shau Kei Wan, Storefriendly Tower (Peninsula West) at 850-870 Lai Chi Kok Road in Cheung Sha Wan, and Storefriendly Tower (Metropolis West) at 22-28 Tai Chung Road in Tsuen Wan.

This portfolio approach to certification represents a sophisticated environmental management strategy that extends beyond individual building performance to encompass enterprise-wide sustainability practices. The Portfolio Assessment Mechanism allows organizations to demonstrate consistent application of environmental standards across multiple properties, providing stakeholders with confidence that sustainability is embedded in corporate culture rather than limited to isolated facilities.

Hong Kong’s Green Building Imperative

Hong Kong faces unique sustainability challenges that make green building practices particularly critical. As one of the world’s most densely populated places, with more than 7.4 million residents living and working in urban skyscrapers, buildings represent the major user of electricity in the city. Activities inside buildings account for over 90% of Hong Kong’s total electricity consumption, resulting in over 50% of the city’s greenhouse gas emissions. This percentage is relatively high compared to the global average, which is usually below 40%.

The Hong Kong government has established ambitious targets to address this challenge. According to the Energy Saving Plan for Hong Kong’s Built Environment, Hong Kong aims to cut 40 percent of energy consumption by 2025 from 2005 levels. The Environment and Ecology Bureau has committed to attaining 2050 targets of cutting power consumption in commercial buildings by 30 to 40 percent, and in residential buildings by 20 to 30 percent from 2015 levels, with hopes to achieve at least half of these goals by 2035 or earlier.

In this context, Storefriendly’s achievement demonstrates how the self-storage sector can contribute meaningfully to Hong Kong’s broader decarbonization agenda. By optimizing operations management and ensuring facilities are both efficient and environmentally responsible, the company provides customers with superior storage experiences while supporting the city’s transition toward carbon neutrality by 2050.

Sustainability Transformation in Asia’s Self-Storage Industry

Storefriendly’s certification achievement reflects broader trends in Asia’s self-storage sector, where sustainability is becoming a priority rather than merely an optional enhancement. Green building practices, including the use of energy-efficient materials, are becoming increasingly common across the region. The industry’s evolution toward environmental responsibility is driven by multiple factors including regulatory requirements, investor expectations, and growing customer awareness of sustainability issues.

The ESG conversation in Asia has evolved quickly, transforming from a reputational add-on to a hard requirement for unlocking institutional capital. Singapore leads the regional trend with green-building-certified sites, energy-efficient HVAC systems, solar installations across large flagship facilities, and encouraging uptake of electric-vehicle charging stations. Major operators including StorHub have achieved certification in Arc Skoru and are pursuing LEED v4.1 Operation and Maintenance certification for their Singapore portfolios, demonstrating the industry’s commitment to measurable environmental performance.

Extra Space Asia, another major regional player, has announced ambitious development plans including Singapore’s first self-storage facility set to achieve ‘Green Mark Super Low Energy Building’ certification. Currently, 100% of Extra Space Asia-owned properties are EDGE-certified, with more than 90% achieving EDGE Advanced certification. The company is ranked third globally among unlisted self-storage peers and highest in Asia in the 2025 GRESB Real Estate Assessment, underscoring growing commitment to Environmental, Social, and Governance practices across the sector.

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Integrating Smart Technology with Sustainable Operations

Storefriendly continues to invest in cutting-edge technology, including AI-powered customer service systems and Safety Box solutions. By combining smart access controls with energy-efficient facility management, the Group enhances both security and operational performance. This integration of technology and sustainability represents an important evolution in how self-storage facilities can minimize environmental impact while improving service quality.

The deployment of AI-powered systems allows for more precise management of energy consumption, reducing waste through intelligent monitoring and automated adjustments to lighting, climate control, and security systems. Smart access controls eliminate the need for constant staffing while ensuring facility security, reducing both labor requirements and the environmental footprint associated with employee commuting and on-site presence.

These technological investments align with broader industry trends toward digitalization and sustainability. Mobile apps are transforming the industry by allowing customers to book units, pay bills, and access storage with just a few taps, driving higher occupancy rates while reducing administrative overhead. In Hong Kong, self-storage apps have increased customer retention by 20%, demonstrating that sustainable practices and business performance can be mutually reinforcing rather than contradictory.

Challenges and Opportunities in Sustainable Storage

The self-storage industry faces unique sustainability challenges that make certifications like BEAM Plus both demanding and valuable. Modern storage facilities often include climate control, 24-hour lighting, and advanced security systems, all of which consume significant energy. A 2023 industry review found that traditional storage warehouses consume about 40% more electricity per square meter compared to standard logistics facilities, largely due to continuous HVAC systems. This energy footprint contributes directly to carbon emissions unless facilities adopt renewable energy sources and implement efficiency measures.

Water use represents another consideration, as fire suppression systems, landscaping, and cleaning processes require substantial resources. In densely populated urban areas like Hong Kong, where land and resources are at a premium, the environmental impact of storage facilities receives careful scrutiny from regulators and communities. Achieving “Excellent” ratings in sustainability management demonstrates that operators can address these challenges effectively through systematic approaches to resource conservation and environmental stewardship.

However, the sector also presents opportunities for positive environmental contributions. Self-storage supports urban living by providing flexible space solutions that can reduce the need for individuals and families to upsize their homes. It enables small businesses and e-commerce entrepreneurs to operate efficiently without maintaining large warehouse spaces, supporting the growth of sustainable, distributed economic activity. As one industry expert noted, self-storage provides “an elegant end of life” for older buildings that cannot be used for other purposes, giving new purpose to existing structures rather than requiring new construction.

Hong Kong’s ESG Compliance Evolution

Storefriendly’s BEAM Plus achievement comes at a critical time for Hong Kong’s business community as ESG compliance requirements intensify. For fiscal years commencing on or after January 1, 2025, all listed issuers are required to mandatorily disclose Scope 1 and Scope 2 greenhouse gas emissions, with Main Board issuers required to report on new climate requirements on a “comply or explain” basis. These regulations reflect a broader shift toward mandatory sustainability reporting aligned with international frameworks including the ISSB’s IFRS S2 Climate-related Disclosures.

Additionally, the Hong Kong Monetary Authority has been developing the Hong Kong Taxonomy for Sustainable Finance, with Phase 2A consultation launched in September 2025 introducing expanded sector coverage and clearer definitions of green and sustainable activities. The prototype introduces transition elements such as interim decarbonization targets and sunset dates, along with a new environmental objective focused on climate change adaptation, reflecting Hong Kong’s evolution as a sustainable finance hub.

In this regulatory environment, voluntary certifications like BEAM Plus provide companies with frameworks for demonstrating environmental performance that align with emerging mandatory requirements. Studies have shown that tenants in Hong Kong are willing to pay premiums of up to 9% for BEAM Plus certified offices, indicating that sustainability credentials translate into tangible market value beyond mere compliance.

Industry Leadership and Future Roadmap

Founded in 2002, Storefriendly Self Storage Group has grown to become one of Asia’s leading self-storage brands, with operations across Hong Kong, Macau, Singapore, and Taiwan. The Group operates over 90 branches and more than 40,000 storage units, with over half of its branches representing self-owned properties. These facilities are conveniently located and equipped with 24-hour smart access and comprehensive security systems, providing safe and flexible storage solutions for both individual and business customers.

The HKGBC recognition serves as a roadmap for the Group’s future trajectory as it strives to modernize the mini storage industry with forward-thinking, sustainable solutions for both personal and business clients. The company’s statement that achieving the Excellent rating “reinforces our commitment to ESG goals” reflects an understanding that environmental responsibility is not peripheral to business success but central to long-term competitiveness and stakeholder value creation.

The Group’s continued investment in technology—including AI-powered customer service, specialized wine storage, and smart safety boxes—demonstrates commitment to elevating service quality through innovation while delivering enhanced storage experiences. This combination of technological sophistication and environmental stewardship positions Storefriendly at the forefront of industry evolution, setting standards that other operators in Hong Kong and across Asia are likely to follow.

Broader Implications for Hong Kong’s Built Environment

Storefriendly’s achievement has implications beyond the self-storage sector, demonstrating how specialized commercial properties can contribute to Hong Kong’s overall sustainability agenda. The Hong Kong Green Building Council recently announced reaching the milestone of 100 “Zero-Carbon-Ready Building Certifications,” reflecting accelerating momentum toward the territory’s 2050 carbon neutrality target.

In July 2025, the HKGBC and BEAM Society Limited officially launched BEAM Plus Existing Buildings Version 3.0, introducing enhanced standards that include theme certification mechanisms providing tailored flexibility for projects to meet evolving societal needs. This new version aims to help reduce carbon emissions from existing buildings and promote operation and management of green and healthy buildings, with over 200 industry leaders and experts attending the launch ceremony to express support for green development of Hong Kong’s existing buildings toward net-zero emissions by 2050.

The evolution of BEAM Plus standards reflects recognition that Hong Kong’s path to carbon neutrality depends heavily on improving the environmental performance of existing buildings rather than relying solely on new construction. With buildings accounting for the majority of the city’s electricity consumption and greenhouse gas emissions, systematic improvements to facility management practices across all building types—including specialized facilities like self-storage—are essential to achieving climate goals.

Conclusion: Setting New Standards for Sustainable Storage

Storefriendly’s achievement of BEAM Plus “Excellent” rating across five facilities represents more than a corporate milestone; it signals a maturation of Hong Kong’s self-storage industry toward systematic environmental responsibility. By demonstrating that mini storage operations can achieve high standards of sustainable building management while maintaining operational efficiency and service quality, Storefriendly has established a benchmark that elevates expectations for the entire sector.

As Hong Kong continues its transition toward becoming a world-leading smart green city, with ambitious targets for reducing building energy consumption and achieving carbon neutrality by 2050, the participation of all building types and sectors becomes essential. Storefriendly’s success demonstrates that specialized commercial facilities can contribute meaningfully to these goals through structured approaches to environmental management, smart technology integration, and sustained commitment to continuous improvement.

The recognition from the Hong Kong Green Building Council validates that environmental excellence and business success are not competing priorities but complementary objectives that, when properly aligned, create value for customers, investors, employees, and communities. As ESG considerations become increasingly central to investment decisions, regulatory compliance, and corporate reputation, Storefriendly’s pioneering achievement in securing BEAM Plus certification for its portfolio positions the company for continued leadership in Hong Kong’s evolving sustainable business landscape.

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photo source: Google

By: Montel Kamau

Serrari Financial Analyst

20th January, 2026