AirTrunk Targets US$1.5 Billion Singapore REIT Listing to Fund Asia Pacific Growth

AirTrunk, the hyperscale data center platform backed by Blackstone, is preparing to launch a real estate investment trust (REIT) listing in Singapore, aiming to raise approximately US$1.5 billion. The move underscores the escalating demand for capital to finance the rapid expansion of digital infrastructure across the Asia Pacific region.

The company has confidentially filed for the listing, which is being targeted for September or October of this year. If successful, the offering would rank as the largest initial public offering (IPO) in Singapore since 2017, according to reports. The REIT structure is expected to provide a vehicle for long-term, income-focused investors to gain exposure to AirTrunk’s portfolio of hyperscale data center assets.

AirTrunk has established a significant footprint across the Asia Pacific, including key markets in Australia, Japan, Hong Kong, Malaysia, and India. The capital raised from the REIT listing is intended to support the company’s continued expansion in these high-growth regions, where demand for cloud and AI computing infrastructure continues to surge. The listing also reflects a broader industry trend where data center operators are turning to public markets and REIT structures to unlock value from their substantial real estate holdings and secure funding for future development.