— A conversation with REIT expert Kenny Low ( Michelle Martin ,MoneyFM89.3)Executive SummaryWith bank valuations near historical highs and the U.S. 10-year yield still above 4.2%, Singapore REITs (S-REITs) are flashing a “technical breakout + dividend yield premium” signal. The sector, however, still needs two catalysts: (1) institutional money flowing back and (2) clear Distribution Per Unit (DPU) recovery. Kenny Loh’s advice:Do not “sell all banks and go all-in REITs”; rebalance gradually.Focus on individual names with visible DPU inflection points or repaired balance sheets.1. Macro & Index: S-REITs Just Exited a Two-Year DowntrendIndex performance: After “down-sideways-up” from 2H 2024 to 1H 2025, the FTSE ST REIT Index hit a fresh high of 689 in August.12-month total return: 10.5

Singapore’s REIT market is on fire, with top performers like Frasers Hospitality Trust, CapitaLand Integrated Commercial Trust, and First REIT hitting 52-week highs in H1 2025. Retail investors poured SGD 400 million into S-REITs as of June 26, 2025, drawn by juicy dividend yields, while institutions sold off SGD 500 million, wary of high valuations and interest rate risks. With the iEdge S-REIT Leaders Index up 11.7% since April, the question looms: Are these high-flying S-REITs dividend kings poised for more gains in H2 2025, or are they value traps waiting to trip investors? This report dives into their performance, growth prospects, investor dynamics, and strategic investment approaches to capitalize on this rally while managing risks. S-REITs’ H1 2025 Performance: A Resilient Rally Th

【SRT】 Gains over the week were led by industrial, data centre, and office by subsector and KDCREIT, CLAR, and MLT by individual REIT. KDCREIT rose amid Maybank Research’s initiation of a buy coverage. As for CLAR, Bloomberg analyst said 1H25 NPI could rise on rent hikes and contributions from acquisitions, developments and renovations, albeit partially offset by lower occupancy and disposals. Given 1Q’s +11% rent reversion, 2Q’s reversion could be strong and CLAR could guide 2025 rent reversion higher to mid-single-digit. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 WTD Total Return: +1.51% 【MMF】 As a result of headlines surrounding Trump’s threats to replace Fed Chair Powell, the US Treasury market saw volatility over the week. Even though Trump dism

$NTT DC REIT USD(NTDU.SI)$ ’s mega listing, which marks one of Asia’s largest Data Centre REIT IPOs, broadens the opportunities for investors to gain exposure to assets driving the artificial intelligence (AI) boom.Scheduled to commence trading at 2PM on July 14, the REIT has an IPO market capitalisation of US$1.03 billion and it will be the third pure-play data centre real estate investment trust (REIT) that is listed in Singapore.It joins $DigiCore Reit USD(DCRU.SI)$ , which listed in Dec 2021, and $Keppel DC Reit A(X1JU.SI)$ (KDC), which rejoined the Straits Times Index (STI) last month. In total, the pure-play Data Centre S-REITs listed on SGX provid

$NTT DC REIT USD(NTDU.SI)$ Singapore’s NTT DC REIT USD stumbled out of the gate, raising $773 million in the city-state’s largest IPO in four years, only to disappoint with a lackluster debut. Backed by Japanese telecom titan NTT Ltd, this data center real estate investment trust (REIT) boasts six properties across Austria, Singapore, and the United States, valued at $1.6 billion. But with investor enthusiasm lukewarm, the question looms: Are data center REITs still a hot ticket? How does NTT DC stack up against Keppel Data Center, and which REIT type deserves your money? Let’s break it down. Why Data Center REITs Are Worth Watching Data center REITs are riding a wave of explosive demand for digital infrastructure. Cloud computing, artificial i

S-REITs hitting fresh 52-week highs in 2025 is proof that yield still matters, even in a world obsessed with AI stocks and big tech breakouts. The SGD 400 million in net retail inflows is telling—Singaporeans love their dividends, and the stability of S-REITs has become a kind of financial comfort food in an uncertain world. But while retail investors are buying in droves, institutions have quietly taken the other side of the trade, offloading over SGD 500 million in the first half of the year. This sharp divergence begs the question: are we looking at true dividend kings or just value traps in disguise? Which REITs have room to grow? Not all S-REITs are created equal. Data centre and logistics-focused names like Keppel DC REIT, Mapletree Logistics Trust, and Ascendas REIT stand out with s

🔥 Retail Investors Are Loading Up 💸, Institutions Are Exiting 📤—Is This the Last Great REIT Rally or a Trap in Disguise? Over SGD 400 million of retail buying has poured into Singapore REITs just this month… while institutional investors quietly offloaded nearly SGD 500 million. That’s not just a flow mismatch — that’s a full-on sentiment split. And it’s happening right as multiple S-REITs are punching through 52-week highs. So here’s the million-dollar question: are we witnessing the return of the dividend king — or walking into a well-camouflaged value trap? 🏢 S-REITs Soaring – But Why? It’s impossible to miss the REIT rebound if you’ve opened your SGX watchlist lately. From commercial to logistics to hospitality REITs, names across the board are breaking out. Retail investors are chasin

NTT DC Debut: Will You Buy Data Center REIT? 💻 Singapore just witnessed its largest IPO in four years — and it was all about digital infrastructure. NTT DC REIT raised a strong US$773M, backed by Japan’s telecom giant NTT, offering investors rare exposure to the fast-growing world of data centres. But instead of a breakout, the stock opened with a whimper. So here’s the question smart investors are asking: Was this just a bad day to list — or a long-term play misunderstood by the market? 📉 IPO Recap: Why the Tepid Debut? Despite solid fundamentals, sentiment around REITs remains shaky. With interest rates still elevated and uncertainty over the next SORA move, institutional buyers are cautious about yield-heavy products. Add in global IPO fatigue and rising utility costs for data centre op

Honored to be invited as a guest to witness the NTT DC REIT IPO debut on SGX today. It was a great pleasure meeting many VIPs and key figures at SGX. Excited to see such a landmark listing and the bright future ahead for data centre REITs! Key Highlights Largest REIT IPO on SGX in a Decade: $NTT DC REIT USD(NTDU.SI)$, a data centre-focused real estate investment trust sponsored by NTT Group, debuted on the Singapore Exchange (SGX) today, marking the largest REIT listing on the exchange in ten years. IPO Details: Offer Price: US$1.00 per unit Total Funds Raised: US$773 million Units Offered: About 600 million units (569.9 million via international placement, 30 million via Singapore public offer at S$1.276 per unit). Market Capitalisation at Lis

SGX Surges on IPO Revival: Beyond NTT DC REIT, a New Era of Listings Unfolds The $SGX(S68.SI)$   is buzzing with energy this week, reaching fresh highs thanks to a wave of exciting IPOs. While the spotlight shines on the headline-grabbing NTT data center REIT, a variety of companies across different sectors are jumping on the IPO bandwagon, sparking renewed investor interest. Diverse IPOs Bring New Investment Choices — What You Should Know This IPO wave is not just about the headline-grabbing NTT DC REIT. Several companies from different industries are gearing up to list on SGX, offering investors fresh opportunities to diversify. NTT DC REIT is set to become one of the largest IPOs on the Singapore Excha

Overview NTT DC REIT is launching Singapore’s largest real estate investment trust (REIT) IPO in over a decade, seeking to raise approximately US$773 million. The offering comprises 599.9 million units priced at US$1.00 per unit for institutional and international investors, and 30 million units at S$1.276 for the Singapore public. NTT Limited, the sponsor, will retain a 25% stake through a concurrent subscription of 257.6 million units, while GIC, Singapore’s sovereign wealth fund, emerges as a key cornerstone investor with a 9.8% stake. The REIT's cornerstone investors also include AM Squared, UBS, Hazelview, and others. Trading is expected to commence on July 14, 2025, on the SGX Mainboard. Prospectus | Product Highlights Sheet Fundamental and Financial Ratios Type: Data Centers (Carrie

I recently came across the news about Singapore's NTT DC REIT USD $NTT DC REIT USD(NTDU.SI)$  , a data centre real estate investment trust, which had a lacklustre market debut on Monday after raising 773 million dollars in the city-state's biggest IPO in four years. I find it interesting that despite the significant capital raised, the initial market response was not as enthusiastic as one might expect. This makes me curious about the factors influencing investor sentiment towards this particular REIT. I learned that NTT DC REIT, backed primarily by NTT Ltd, which is part of the Japanese telecommunications giant Nippon Telegraph and Telephone Corp, manages six data centres across Austria, Singapore, and the United States, with a total valu

Strengths of NTT DC REITExposure to High-Growth Data Centre Sector:NTT DC REIT is a pure-play data centre REIT, the third of its kind on the SGX, following Keppel DC REIT and Digital Core REIT. The global data centre market is experiencing strong growth, driven by demand for digital infrastructure and artificial intelligence (AI) applications. The prospectus notes a projected 27.5% compound annual growth rate in power usage by data centres from 2024 to 2027, reflecting robust demand. The REIT’s portfolio includes six operational data centres across the US (four in California and Virginia), Austria (Vienna), and Singapore, with a total appraised value of US$1.57 billion and a capacity of 90.7 megawatts. This geographic diversification across key markets (US: 72%, Europe: 17%, Singapore: 9%

Capland Ascendas (A17U), Mapletree Ind trust (ME8U), CapitaLand investment A17U :have total assets under management from S$18 billion to S$17.6 billion and increase its Singapore exposure to 67% of the portfolio. CLAR’s data centre exposure will grow from S$1.4 billion to S$1.9 billion, with 54% of this now based in Singapore. Dividend Yield: 5.5% ME8U:  Data centers represent 56% of its portfolio, with significant assets in North America at 46.1%. Overall portfolio occupancy from stand at 92.1%, rooms to improve. Dividend Yield: 6.7% CapitaLand investment outlined its growth strategy, targeting a significant increase in funds under management (FUM) from $99 billion in 2023 to $200 billion by 2028. Dividend Yield:4.3%