The Business Times
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COMMENTARY

Investors should be excited about Singapore’s biggest Reit IPO in a decade – but not too excited

NTT DC Reit’s theoretical market capitalisation of US$1.03 billion will put it only around the middle of the pack among its S-Reit peers

Summarise
Jude Chan

Jude Chan

Published Wed, Jul 9, 2025 · 06:00 AM
    • Masayuki Ozaki (right), chief financial officer of the manager of NTT DC Reit, says the US$1 billion is a "good bite size" for the market to absorb. With him is Yutaka Torigoe, chief executive officer of the Reit manager.
    • Masayuki Ozaki (right), chief financial officer of the manager of NTT DC Reit, says the US$1 billion is a "good bite size" for the market to absorb. With him is Yutaka Torigoe, chief executive officer of the Reit manager. PHOTO: NTT DC REIT

    [SINGAPORE] Japanese telco Nippon Telegraph and Telephone’s (NTT) NTT DC Reit is stirring up some excitement in Singapore’s floundering equities market.

    The real estate investment trust (Reit), which launched its initial public offering (IPO) on Monday (Jul 7), is checking all the right boxes that make for great headlines – and attract investor interest.

    It is set to be the biggest Singapore-listed real estate investment trust (S-Reit) listing in over a decade. It is a pure-play data centre Reit, a sector which has demonstrated sizeable growth underpinned by scalable, long-term demand drivers, and is offering higher distribution yields than its peers.

    IPOS-ReitsSingapore REITsData centresSGX

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