StorHub Group, which operates self-storage facilities in Asia and Australia, has announced that Raju Ruparelia has joined the company as CEO. Ruparelia succeeds Mike Hagbeck, Storhub's Co-founder and its previous CEO for the last five years. Hagbeck will become the non-executive Chairman of the Company and remain a Board Director to help guide the long-term strategy and continued market expansion. "After 25+ years at the frontline of the industry, I am pleased to pass the reins over to Raju," said Hagbeck. "I look forward to supporting him and the management team in continuing to grow strongly in StorHub’s next phase of development.”
Ruparelia has more than two decades of experience driving business growth and transformation. He previously served as Senior Managing Director and Head of APAC Private Capital at Ontario Teachers’ Pension Plan Board, overseeing the firm’s direct private equity investing activities across the region, including its real estate related investments. "It’s truly impressive that StorHub has emerged to become the prominent player in the self-storage industry in Asia Pacific over the past five years," said Ruparelia. "I firmly believe that the self-storage industry in Asia Pacific is at an inflection point. With a deep and talented leadership team and the unwavering support of its investors, StorHub is uniquely positioned to capitalize on what is expected to be a multi-decade opportunity for self-storage in the region."
Founded in Singapore in 2019, StorHub Group has expanded rapidly across gateway cities in Asia Pacific. Through a buy-and-build strategy, the company has acquired and developed more than 470 stores, covering a GFA of 6.8 million square feet and encompassing over 70,000 storage units. Today, it is APAC’s largest multi-country self-storage platform with nearly 50,000 customers across 17 cities in Australia, Greater China, Japan, Malaysia, Singapore, South Korea, and Thailand.