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Quick Summary Seatrium jumped 3.17% to S$2.28 , leading STI gainers Offshore & marine stocks outperformed UOL plunged 6.07% , biggest decliner Mixed performance across Singapore REITs STI Movers: Offshore Leads, Property Drags On Thursday, the  FTSE Singapore Straits Time Index  (STI)  saw selective strength, led by offshore and marine counters. Top Gainers Seatrium Ltd Close: S$2.28 +3.17% Yangzijiang Shipbuilding Holdings Ltd Close: S$3.92 +1.82% Keppel DC REIT +0.87% Mapletree Logistics Trust +0.78% Frasers Centrepoint Trust +0.44% Key point:  Offshore & marine stocks extended gains, suggesting renewed investor appetite in energy-linked plays. Top Losers UOL Group Ltd Close: S$10.68 -6.07% City Developments Ltd -6.02% Wilmar International Ltd -2.78% SATs Ltd -2.27% Sembcorp Industries Ltd -2.10% Property counters were the biggest drag on the index. REITs Movers Top Gainers Elite UK REIT  +1.41% Keppel DC REIT  +0.87% Centurion Accommodation REIT ...

Key Takeaways AI workloads are fueling global data center demand, with capacity needs projected to grow at a 22% CAGR to 219GW by 2030. Leasing demand from hyperscale operators (AWS, Google Cloud, Meta) has shifted the lease-to-build ratio to 70:30, benefiting REITs. Singapore is strengthening its position as a digital hub with subsea cable expansion and near-zero vacancy rates. CapitaLand Ascendas REIT and Keppel DC REIT lead sector performance in 2025, while NTT DC REIT attracts attention as a new entrant. Rate cut expectations and supply constraints support dividend sustainability and valuation recovery. Demand Acceleration The rise of generative AI is reshaping digital infrastructure requirements. Global demand for data center capacity is projected to expand at 22% annually through 2030, with AI-ready facilities growing at a faster 33% CAGR. By the end of the decade, AI-optimized centers could make up 70% of total capacity. A notable trend is hyperscale operators shifting to leasin...

Key Takeaways Singapore’s REIT sector is regaining momentum, supported by falling interest rates, steady rental growth, and renewed fundraising activity. According to DBS Group Research, valuations remain attractive with S-REITs trading at 0.9x price-to-book and offering an FY26 yield of 5.8%, a 4% spread over 10-year Singapore government bond yields. Rising share prices and improved financing conditions have reopened the window for acquisitions, with $3.4 billion raised in equity and nearly $2 billion worth of deals announced year-to-date. Underlying rental growth across retail, office, and industrial assets further underpins stability, while hospitality faces near-term headwinds. Quick Glance: Sector Highlights Valuation & Yield S-REITs trading at  0.9x P/B , below historical average. Forecast  FY26 yield of 5.8% , ~4% spread over 10-year SGS yields. Fundraising & Acquisitions $3.4b equity raised  via placements/IPOs in 2025. $2.0b acquisitions  announced Y...