Demand in the colocation market in Singapore exceeds supply with 90.2 per cent under-construction capacity having been pre-leased already, Knight Frank’s latest report reveals. Vacancy rate hovers around 4.0 per cent with 28.1 MW of available capacity spread across 15 sites. Singtel has the largest under construction share with 8.3MW across two sites.
The report added Singapore is still the most expensive colocation market in the Asia Pacific region.
Singapore’s total data center capacity in the first half of 2025 rose by 5.2 per cent to reach a total of 1.6GW out of which 1.1GW is live. New projects with 48.0MW of capacity contributed to the live capacity during the period. However, despite the 4.6 per cent increase in live capacity, the research house said Singapore has one of the smallest development pipelines in the Asia Pacific region at only 536.6MW. As a result, future expansion remains constrained.
For built IT capacity, Google leads with a 17 per cent share followed by ST Telemedia GDC, Equinix, Digital Realty, AirTrunk, and SingTel, collectively accounting for the next 40 per cent.
Google, Meta, and AirTrunk together, are expected to contribute 66 per cent of future development pipeline, across both committed and early-stage projects. “But this is expected to change as more power is drip fed to the market,” the report said.
Recent notable activities include Keppel Data Centres’ planned 21MW expansion at its Genting Lane Campus, DayOne breaking ground at its CFA-awarded 20MW development, and AirTrunk seeking a $1.7 billion green loan to support an 80.2MW greenfield project.
The report noted that following the award of 80MW to four operators at the end of Q2 2025 under the ‘Call for Applications’ process in July 2022, the EDE and IMDA announced a launch for the second round of applications (DC-CFA2) where ‘at least 200MW’ of new capacity was to be awarded. Successful applicants will be announced in Ql 2026, with operations to commence by 2029.