Australia’s Goodman establishes $2.7B Hong Kong data center partnership

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Goodman Group, an Australia-based digital infrastructure firm, has established the Goodman Hong Kong Data Center Partnership (GHKDC) – a new $2.7 billion data center dedicated investment vehicle.

Goodman said in a statement on Friday that GHKDC is the only private institutional investment platform focused solely on Hong Kong’s data center market.

The initial portfolio includes four fully stabilized data centers; two data centers under active development.

Once complete, the six assets will comprise over 2.3 million square feet of gross lettable area and 325 MVA of primary utility power – equating to more than 180MW of IT load.

Occupied by major global technology customers, Goodman’s portfolio accounts for approximately 30 percent of Hong Kong’s data center market by power capacity.

Goodman holds a 20 percent cornerstone stake, alongside leading institutional and sovereign wealth partners, including PGGM, APG, Canada Pension Plan Investment Board (CPP Investments), CBRE Investment Management’s Indirect Private Real Estate Strategies (CBRE IM Indirect) and a Middle Eastern investor.

According to the statement, the growing global adoption of cloud and AI services is generating demand for data centers in metro areas, close to end users, where Hong Kong facilities are located.

GHKDC follows the formation of the Goodman Japan Data Center Venture in 2023, which will reach $1.1 billion in assets by the end of this year, expanding Goodman’s Asia Data Center platform.

“Demand for data centers in Hong Kong and Tokyo continues to grow with limited supply alternatives,

“The strength of the Goodman platform is enabled by our land in prime locations, secured power, an experienced team, and access to capital,” said Paul McGarry, Goodman’s Head of Asia.

“Combined, these factors position us well to continue delivering to the scale and quality that meets the needs of our customers,

“With a future development power bank of over 1GW across these major cities, we are confident in our ability to deliver the modern, high-performance infrastructure essential to Asia’s digital economy,” he added.


#DataCenters #DigitalInfrastructure #AIExpansion #CloudComputing #SmartInvestments

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