NTT Set to Launch Massive Data Centre REIT on SGX, Aiming to Raise $864 Million
Japanese telecom giant NTT is launching NTT DC REIT on the Singapore Exchange on July 14, raising between $772 M–$864 M. The portfolio includes six data centres across the U.S., Austria, and Singapore, with GIC and other cornerstones backing the IPO
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Backed by NTT Ltd, the REIT will initially include six high-performance data centres valued at around $1.6 billion. These facilities are located in strategic tech hubs: Ashburn (VA), Sacramento (CA, three sites), Vienna (Austria), and Singapore.
Major cornerstone investors include GIC, holding approximately 9.8%, with NTT Ltd retaining a 20–25% stake post-IPO . Additional institutional backers—AM Squared, Hazelview, Pinpoint Asset Management, and Viridian—have also subscribed.
The IPO targets an initial distribution yield of 7–7.8%, appealing to income-seeking investors amid Asia’s data-infrastructure boom. NTT’s strategy behind spinning off mature assets into a REIT is to unlock capital and reinvest in newer data centre developments.
If successfully listed, NTT DC REIT will become the third pure-play data centre REIT on SGX, joining Keppel DC REIT and Digital Core REIT, and mark the largest REIT IPO in Singapore in years.
