The Singapore Exchange (SGX) has rolled out the iEdge Singapore Next 50 Indices, designed to capture the performance of mid-cap companies that fall just outside the Straits Times Index (STI)’s top 30. The move underscores SGX’s ongoing effort to broaden investor access to Singapore’s equity market beyond its blue-chip heavyweights.
The indices track the next 50 largest companies listed on the Mainboard, excluding the STI constituents, and are structured for liquidity and replicability. Two variations have been introduced. The iEdge Singapore Next 50 Index is weighted by free-float market capitalization, while the iEdge Singapore Next 50 Liquidity Weighted Index uses a liquidity-based weighting measured by six-month median daily traded value. Both cap individual stocks at 5% to avoid overconcentration.
To qualify, companies must have a minimum free float of 15%, market capitalization of at least S$100 million, and a six-month median daily traded value above S$100,000. Constituents are screened quarterly in March, June, September and December. The methodology ensures that only sufficiently liquid and investible mid-cap names are included, while systematic caps redistribute excess weightings to maintain balance.
By spotlighting companies just below the STI threshold, the indices are expected to serve as a reference point for new investment products and a gateway for passive fund flows. For investors, the launch creates a tradable mid-cap benchmark that complements the STI and REIT-focused indices, while offering exposure to a broader pool of growth opportunities in Singapore’s market.
One standout feature is the prominence of Singapore REITs. S-REITs account for 15 of the 50 constituents, or about 44% of the index by weight, underscoring their central role in Singapore’s capital markets. Their dominance reflects not only the city-state’s position as Asia’s REIT hub but also investor demand for stable, income-generating assets. By giving mid-cap REITs greater visibility, the indices may encourage more fund flows and improve liquidity for names outside the traditional large-cap benchmarks like the iEdge S-REIT Index and FTSE ST REIT Index.
Below are the constituents and a brief overview of each REIT:
*Data as of 1st Oct 2025.
Keppel REIT is an office-focused REIT holding 13 properties across Asia-Pacific. About 69% of its portfolio is in Singapore, with the remainder spread across Australia (28%) and South Korea (3%). Its portfolio is largely concentrated in Grade A CBD offices, with total assets of around SGD 9.6 billion.
CapitaLand Ascott Trust is a geographically diversified hospitality REIT with 101 serviced residences, hotels, and rental housing properties. Its portfolio is highly diversified: Japan (18%), the UK (11%), the US (22%), and Australia (11%), with smaller allocations to Singapore (9%), China (1%), Indonesia (2%), and Europe excl. UK (17%). The trust’s assets are valued at around SGD 7.7 billion, offering broad geographic diversification in the hospitality sector.
Suntec Real Estate Investment Trust owns 10 properties valued at around SGD 10.6 billion. The portfolio is mainly in Singapore (71%) with exposure to Australia (17%) and the UK (12%). Suntec REIT invests primarily in integrated office and retail spaces, including landmark properties like Suntec City.
Parkway Life Real Estate Investment Trust is a healthcare REIT with 75 properties. About 66% of its portfolio is in Singapore, while 26% is in Japan, and the rest spread across Malaysia and other Asian markets. It focuses on hospitals and nursing homes, with total assets of around SGD 2.0 billion.
ESR-REIT is an industrial and logistics REIT with 70 properties. Around 84% of its portfolio is in Singapore, while the remainder is diversified across Asia. ESR-REIT focuses on industrial facilities, logistics assets, and business parks, with assets of around SGD 5.5 billion.
Lendlease Global Commercial REIT holds 5 properties valued at around SGD 3.8 billion. About 89% by value of its assets are in Singapore, while the remainder is in Italy. The REIT invests in commercial and retail assets such as 313@Somerset in Singapore.
CapitaLand India Trust is a data centre and business park REIT with 18 properties valued at around SGD 2.8 billion. The portfolio is entirely based in India, with a focus on IT parks and logistics hubs. It provides investors with exposure to India’s growing technology and outsourcing sectors.
CapitaLand China Trust is a retail and commercial REIT with 18 properties in China, making it a pure-play China REIT. With about SGD 4.2 billion in assets, it offers exposure to China’s consumer growth story, particularly in urban retail hubs.
Digital Core REIT is a data centre REIT with 11 assets. About 12% of its portfolio is in Japan, 30% in Germany, and nearly 58% in North America. The REIT’s assets, worth around SGD 2.5 billion, give investors a globally diversified play on digital infrastructure.
CDL Hospitality Trust is a hospitality REIT with 22 hotels and resorts. Its portfolio is spread across Singapore (62%), Europe incl. UK (22%), and Japan, the Maldives, and New Zealand. With assets of about SGD 3.3 billion, it provides exposure to global travel recovery and hospitality demand.
AIMS APAC REIT is an industrial REIT with 27 properties valued at around SGD 2.1 billion. The bulk of its assets (77%) are in Singapore, with the remainder in Australia (23%). It invests in industrial and logistics facilities.
Starhill Global REIT owns 9 retail and commercial properties worth about SGD 2.8 billion. Its portfolio is spread across Singapore (63%), Australia (21%), and Malaysia (15%), with smaller exposure in China and Japan. The REIT focuses primarily on prime retail assets.
Far East Hospitality Trust is a hospitality REIT with 13 hotels and serviced residences. Almost all its portfolio is in Singapore (97%), with minor exposure to Malaysia. It has total assets of around SGD 2.5 billion and is focused on mid-tier to upscale hotels.
Sasseur Real Estate Investment Trust is a retail REIT with 4 outlet mall properties in China, making it a pure-play China outlet REIT. Valued at about SGD 1.5 billion, the portfolio offers exposure to China’s fast-growing consumption and outlet retail sector.
Kenny Loh is a distinguished Wealth Advisory Director with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
In addition to his advisory role, Kenny is an esteemed SGX Academy trainer specializing in S-REIT investing and regularly shares his insights on MoneyFM 89.3. He holds the titles of Certified Estate & Legacy Planning Consultant and CERTIFIED FINANCIAL PLANNER (CFP).
With over a decade of experience in holistic estate planning, Kenny employs a unique “3-in-1 Will, LPA, and Standby Trust” solution to address clients’ social considerations, legal obligations, emotional needs, and family harmony. He holds double master’s degrees in Business Administration and Electrical Engineering, and is an Associate Estate Planning Practitioner (AEPP), a designation jointly awarded by The Society of Will Writers & Estate Planning Practitioners (SWWEPP) of the United Kingdom and Estate Planning Practitioner Limited (EPPL), the accreditation body for Asia.
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