For Singapore’s real estate investment trusts (S-REITs), a focus on data centres have moved from niche plays in the property market to becoming the backbone of Asia’s digital economy. This shift is driven by the twin engines of artificial intelligence (AI) and cloud computing, which have seen rising structural demand as AI adoption accelerates. These seven Singapore-listed REITs are positioning themselves at the heart of this transformation.
The surge in demand for data centres reflects the need for power, scale, and readiness in the AI industry. AI workloads are voracious consumers of computing power. Training large language models and agentic AI workflows requires facilities that can handle massive electricity loads, advanced cooling systems, and uninterrupted uptime. Cloud adoption, meanwhile, continues to expand across Asia, with enterprises migrating operations to digital platforms. Together, these forces are creating unprecedented demand for data centres by turning them into strategic assets.
In this week’s edition of 4 Stocks This Week, we look at 7 S-REITs with exposure to data centre assets, as described in an SGX Market Update. All data is as of 13 August 2026.
#1 Keppel DC REIT (SGX: AJBU)
Keppel DC REIT is the first data centre REIT listed in Asia. Its portfolio currently has 25 data centres across 10 countries in Asia Pacific and Europe, with over $6 billion in assets under management (AUM). Singapore is its largest market at 62.7% in terms of AUM, while Japan accounts for 13.6%.
It recently announced unaudited results of 18.5% year-on-year growth in 1H 2026 distributable income to $150.7 million, with 1H 2026 distribution per unit (DPU) increasing 11.3% year-on-year to 5.714 cents.
Keppel DC REIT has a market capitalisation of $5.409 billion, a price-to-book (PB) ratio of 1.3 and a distribution yield of 5.0%.
Read Also: REITs Report Card: How Singapore REITs Performed In FY2025
#2 NTT DC REIT (SGX: NTDU)
Recently listed on the SGX Mainboard in 2025, NTT DC REIT is a pure play data centre REIT. Its portfolio includes 6 data centres: 4 in the United States, 1 in Vienna, Austria, and 1 in Singapore. This represents about $1.7 billion in AUM, with the US its largest market at 63.9% in terms of AUM, while Singapore accounts for 18.6%.
Earlier in May, they announced unaudited results of distributable income of 57.5 million USD for FY25/26, which is 2.5% above their IPO forecast. FY25/26 DPU was 5.56 US cents, 2.6% above the IPO forecast.
NTT DC REIT has a market capitalisation of $1.245 billion, a PB ratio of 0.8 and a distribution yield of 5.9%.
Read Also: How Much Would You Have Earned (Or Lost) If You Invested $1,000 In Every IPO On SGX In 2025
#3 Digital Core REIT (SGX: DCRU)
Digital Core REIT is a pure play data centre REIT with a portfolio of 11 data centres across the US, Canada, Germany and Japan. This represents about $1.9 billion AUM, with about 65% in North America and 24% in Germany. It plans to expand its APAC presence with a 2.5% interest in a Singapore data centre, which would account for 4% of AUM.
It recently announced distributable income of 23.3 million USD for 1H 2026, a drop of 0.2% year-on-year. DPU for the same period was 1.8 US cents, with no change year-on-year.
Digital Core REIT has a market capitalisation of $838 million, a PB ratio of 0.6 and a distribution yield of 7.1%.
Read Also: The Four REIT Sectors Analysts Think Will Do Well
#4 Mapletree Industrial Trust (SGX: ME8U)
Mapletree Industrial Trust is one of Singapore’s largest industrial REITs with a diversified portfolio of income-producing industrial properties in Singapore and data centres globally. It includes 54 data centres across North America and 4 in Singapore.
It recently announced distributable income of $88.8 million for 1QFY26/27, 4.8% lower than the corresponding quarter last year. DPU for the same period was 3.11 cents, down 4.9% year on year.
Mapletree Industrial Trust has a market capitalisation of $5.455 billion, a PB ratio of 1.1 and a distribution yield of 4.9%.
#5 CapitaLand Ascendas REIT (SGX: A17U)
CapitaLand Ascendas REIT is Singapore’s first and largest listed business space and industrial REIT. As of June 2026, it has 16 data centres in its portfolio, with 4 in Singapore and 12 in the UK and Europe. Data centres make up 11% of its total asset value of $18.6 billion, with 6% in Singapore and 5% in the UK and Europe.
It recently announced distributable income of $359.4 million for 1H 2026, an 8.6% increase year-on-year. DPU for 1H 2026 remained stable at 7.482 cents, representing a 0.1% increase year-on-year.
CapitaLand Ascendas REIT has a market capitalisation of $12.188 billion, a PB ratio of 1.1 and a distribution yield of 3.1%.
Read Also: 10 STI Constituents With The Highest Net Retail And Institutional Inflow In 2026
#6 Stoneweg Europe Stapled Trust (SGX: SET/SEB)
Stoneweg Europe Stapled Trust is a European logistics and data centre platform with about 91% exposure to Western Europe and 62.9% exposure to logistics, light industrial and data centre sectors. Its portfolio is currently allocating 7.2% of its 2.3 billion Euro valuation to data centres but expect to increase this value to 15% to 25% by 2028.
It recently announced distributable income of 36 billion Euros in 1H 2026, up 0.3% year-on-year. Distribution per stapled security was 6.642 Euro cents in 1H 2026, an increase of 1.4% year-on-year.
Stoneweg Europe Stapled Trust has a market capitalisation of $1.279 billion, a PB ratio of 0.8 and a distribution yield of 8.6%.
Read Also: Complete Guide To Start Your REITs Investing Journey In Singapore
#7 CapitaLand India Trust (SGX: CY6U)
CapitaLand India Trust is the first Indian property trust in Asia. Its portfolio includes eight IT business parks, three industrial facilities, one logistics park and three data centre developments in India. A fourth data centre development in Bangalore has been put on hold.
It recently announced distributable income of $64.2 million for 1H 2026, an 8% year-on-year increase. DPU increased 13% year-on-year in Indian Rupee (INR) terms. However, because the INR depreciated during this period, it rose only 1.0% year-on-year to 4 Singapore cents.
CapitaLand India Trust has a market capitalisation of $1.546 billion, a PB ratio of 0.8 and a distribution yield of 9.0%.
Read Also: 5 Things You Need To Know About CapitaLand India Trust (SGX: CY6U) – Riding On India’s Tech Wave
Top Image Credit: Keppel DC REIT
4 Stocks This Week
7 S-REITs With Exposure To Data Centre Assets Used By AI And Cloud
