Freeports – the Über-warehouses for the ultra-rich

Personal storage depots have being around for years – making a tidy profit holding onto all the useless junk we don’t have space for at home, but can’t bear to throw away.

But now the rich are getting in on the scene and around the world (often at airports) highly secure storage buildings are being set up to stash everything from paintings to fine wines and precious metals to classic cars.

Freeports were pioneered by the Swiss, but more and more are being built in China, Monaco, Luxembourg and Singapore. The buildings themselves are also transforming from drab warehouses to exclusive places that people will want to be seen in and the trend for Freeports is expected to grow as more and more of the world’s wealthy draw back from the financial system and invest in the perceived safety of expensive objects.

Source: Über-warehouses for the ultra-rich | The Economist