NTT DC REIT earned $27.9 million in net property income for Q1 FY26/27, beating IPO expectations by five percent.

But the company’s $58m in gross revenues was approximately 1.1 percent lower than the IPO’s projections. NTT DC REIT said that the majority of its committed leases were expected to start contributing to revenue in Q3 of this financial year.

The company said that occupancy for its data centers had increased to 95.9 percent, mainly due to expansions secured in three data centers located in Sacramento, California (CA1, CA3) and Singapore (SG1), and that occupancy was expected to reach 99.2 percent, including committed leases.

As of June 30, the company offers 90.7MW of IT load across four main markets in Singapore, Vienna, and northern Virginia and northern California in the US.

The data center-focused real estate investment trust (REIT) made its Singapore stock market debut in July 2025, joining two other data center-focused trusts, Keppel DC REIT and Digital Core REIT.

REITs are companies that own, and often operate, income-producing real estate such as data centers. They act as a fund for investors, generating revenue via leasing space and collecting rent on their properties. Data center REITs are investment trusts where all or the majority of the trust's revenues come from leasing data centers.