Data-centre REITs own the digital infrastructure behind cloud and AI. Structural demand is strong and the APAC development pipeline is at record levels, but the names differ on geography, tenant concentration and currency.
3 trusts S$7.6B combined cap 7.3% median yield 0.85x median P/NAV| REIT | Price | Yield | P/NAV | Mkt cap |
|---|---|---|---|---|
| NTT DC REIT SGX:NTDU · NTT Group |
US$0.980 | 11.35% | 0.85 | US$1.00B |
| Digital Core REIT SGX:DCRU · Digital Realty |
US$0.490 | 7.35% | 0.61 | US$639M |
| Keppel DC REIT SGX:AJBU · Keppel |
S$2.250 | 4.58% | 1.32 | S$5.50B |
Data Centre trusts plotted. Up = higher yield; left = cheaper vs book.
Every Singapore REIT scored on yield, valuation, balance-sheet strength and distribution durability — source-linked to each trust's latest filing. One email, refreshed every reporting season. The fastest way to put this whole hub in your inbox.
Data-centre S-REITs are pure-play digital-infrastructure trusts. Demand is being driven by cloud adoption and the AI build-out, with the APAC development pipeline at record levels. Scarcity of high-quality, well-located capacity supports premium valuations for the established names.
The differentiators are geography (Singapore has a moratorium-constrained, supply-tight market), tenant concentration (a few hyperscalers can dominate income), power availability, lease structure and — for the USD-reporting trusts — currency. A newly listed data-centre trust will also show an annualised, partial-year distribution, so read its yield with that caveat.
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