Data centres are a growing asset class within the REITs space The drought in the initial public offering (IPO) of real estate investment trusts (Reits) on the Singapore Exchange (SGX) through the later part of 2020 and into much of 2021 ended with the successful listings of Daiwa House Logistics Trust (DHLT) and Digital Core Reit (DC Reit) towards the end of 2021. The former owns logistics assets in Japan, while the latter own data centres in the United States (US) and Canada. For Singapore retail investors, prior to the listing of Digital Core Reit, their only investment choice for pure-play data-centre Reit has always been Keppel DC Reit. Why? To invest in stock markets elsewhere, beyond the Singapore and Hong Kong stock markets would incur dividend tax. This is especially so for the US stock market which has a thriving and big Reit market. Non-resident aliens are subject to a dividend tax rate of 30% on dividends paid out by U.S. companies....