# Singapore data centre occupancy exceeds 95% as supply remains tight - **Source:** Real Estate Asia - **Published:** 2026-10-02T02:37:01.000Z - **Author:** Staff Reporter - **Original:** https://realestateasia.com/industrial/news/singapore-data-centre-occupancy-exceeds-95-supply-remains-tight - **Topics:** Commercial & Industrial, Government & Policy, Regional Markets ## Featured rationale Persistently tight supply and rapid absorption signal a landlord’s market that may support stable-to-slightly higher rents and redirect some capacity demand elsewhere in Southeast Asia. ## AI summary Singapore’s data centre occupancy is expected to remain above 95% through 2026, with 821 MW operating and 247.5 MW of upcoming capacity. ## Original article Low vacancy is expected to persist given the lack of meaningful new supply in the near term. Singapore's data centre occupancy is expected to remain above 95% through 2026 as strong demand meets tightly constrained supply, according to CBRE Research. While demand remains strong across Singapore's co-location and hyperscale segments, capacity constraints are encouraging activity and requirements to shift towards alternative Southeast Asian markets including Johor, Kuala Lumpur and Bangkok, CBRE said. Cloud and AI-related demand are the main sources of large-scale requirements, with connectivity-led and enterprise deployments continuing to support smaller colocation demand. Singapore is also becoming increasingly selective about customer quality and sustainability, with stronger-credit customers and those able to demonstrate better energy efficiency gaining an advantage in securing capacity. Supply remains constrained CBRE said DC-CFA1 has delivered four awards of 20 MW each, while DC-CFA2 is expected to provide at least another 200 MW. However, new data centre development is heavily controlled geographically, with Jurong Island identified as the main area earmarked for future projects. Operators are consequently finding it increasingly difficult to develop outside designated areas. Newer facilities are increasingly competing on specification and efficiency, while established facilities retain advantages through stronger embedded connectivity or valuable customer ecosystems. Occupancy is expected to remain above 95%, with low vacancy anticipated to persist given the lack of meaningful new supply in the near term. CBRE said that even if additional data centre capacity is approved, it is unlikely to fundamentally loosen the market because of expected rapid absorption and long development timelines. Investment market Singapore remains a highly coveted investment market, but investment activity is subdued as assets remain tightly held, with owners generally unwilling to sell, according to CBRE. The limited recent transactions have included Keppel and CapitaLand, with assets moving between development platforms and REIT structures. CBRE said AI-readiness of existing stock is becoming an increasing concern, as many legacy facilities were not designed for current AI workloads. This is creating opportunities around facility refreshes, retrofits, energy optimisation and sustainability-led upgrades. Beyond planning controls, power availability remains the principal development bottleneck. The market is expected to remain tight through 2026, with rents forecast to trend stable to slightly upward and occupancy likely to remain above 95%, reinforcing Singapore's position as a landlord's market. Selected market movements Keppel has started construction on its 25 MW floating data centre project, with the facility scheduled to come online in 2028 and fully committed to a global hyperscaler, CBRE reported. Digital Realty has pledged more than US$3.4 billion for new data centre development, building on its existing network to reinforce Singapore's critical role as an AI infrastructure hub. Singapore market snapshot CBRE's Q1 2026 data shows Singapore with 821 MW of total data centre capacity and a further 247.5 MW of upcoming capacity. The firm's 2026 outlook indicates colocation prices are expected to rise, while vacancy is expected to remain broadly stable. CBRE puts the indicative cap rate at 5.25-6.50% as of Q1 2026. ## Chinese translation > Translation model: openai_codex_cli ### 新加坡数据中心入住率超过95%，供应仍然紧张 CBRE Research表示，随着强劲需求遭遇严格受限的供应，新加坡数据中心入住率预计到2026年将保持在95%以上。 鉴于短期内缺乏有意义的新供应，低空置率预计将持续。 CBRE Research表示，随着强劲需求遭遇严格受限的供应，新加坡数据中心入住率预计到2026年将保持在95%以上。 CBRE表示，尽管新加坡的托管和超大规模数据中心细分市场需求依然强劲，但容量限制正促使活动和需求转向包括柔佛、吉隆坡和曼谷在内的其他东南亚市场。 云和AI相关需求是大规模需求的主要来源，而以连接性为导向的部署和企业部署继续支撑较小规模的托管需求。新加坡在客户质量和可持续性方面也正变得越来越有选择性，信用更强的客户以及能够证明能源效率更高的客户在获得容量方面更具优势。 供应仍受限制 CBRE表示，DC-CFA1已授出四个各20 MW的配额，而DC-CFA2预计将至少再提供200 MW。不过，新的数据中心开发在地理位置上受到严格管控，裕廊岛被确定为未来项目预留的主要区域。因此，运营商发现，在指定区域以外进行开发变得越来越困难。 较新的设施正越来越多地在规格和效率上展开竞争，而成熟设施则通过更强的既有连接性或有价值的客户生态系统保持优势。 入住率预计将保持在95%以上；鉴于短期内缺乏有意义的新供应，低空置率预计将持续。CBRE表示，即使额外的数据中心容量获得批准，由于预计会被迅速吸纳且开发周期较长，也不太可能从根本上缓解市场紧张状况。 投资市场 CBRE表示，新加坡仍是备受追捧的投资市场，但由于资产仍被紧握，业主普遍不愿出售，投资活动较为低迷。 近期有限的交易包括Keppel和CapitaLand，资产在开发平台和REIT结构之间转移。 CBRE表示，现有存量资产的AI就绪程度正成为一个日益令人关注的问题，因为许多老旧设施并非为当前AI工作负载而设计。这正围绕设施更新、改造、能源优化和以可持续性为导向的升级创造机会。 除规划管制外，电力供应仍是开发的主要瓶颈。市场预计到2026年仍将保持紧张，租金预计将呈稳定至小幅上升趋势，入住率可能维持在95%以上，进一步巩固新加坡作为业主市场的地位。 精选市场动态 CBRE报道，Keppel已开始建设其25 MW浮动数据中心项目，该设施计划于2028年上线，并已全部承诺给一家全球超大规模云服务商。 Digital Realty已承诺投入超过34亿美元用于新的数据中心开发，在其现有网络基础上进一步巩固新加坡作为AI基础设施枢纽的关键角色。 新加坡市场概况 CBRE的2026年第一季度数据显示，新加坡数据中心总容量为821 MW，另有247.5 MW的即将上线容量。 该公司的2026年展望显示，托管价格预计将上涨，而空置率预计将大体保持稳定。CBRE给出的2026年第一季度指示性资本化率为5.25-6.50%。