Goodman Group Forms $2.7 Billion Consortium for Hong Kong Data Centers, Eyeing AI-Driven Demand

Reviewed byNidhi Govil

3 Sources

Australia's Goodman Group has established a $2.7 billion investment consortium to develop data centers in Hong Kong, partnering with international investors. The move aims to capitalize on the growing demand for data infrastructure, particularly driven by AI advancements in China.

Goodman Group's Strategic Move in Hong Kong Data Centers

Australia's Goodman Group, a leading industrial property group, has announced the formation of a $2.7 billion investment consortium to develop data center businesses across Hong Kong 1. This strategic move comes as the company aims to capitalize on the growing demand for data infrastructure, particularly driven by advancements in artificial intelligence (AI) in China.

Source: Economic Times

Source: Economic Times

Consortium Structure and Participants

The consortium brings together a diverse group of international investors, including:

  • Dutch investors PGGM and APG
  • Canada Pension Plan Investment Board
  • CBRE Investment Management's Indirect Private Real Estate Strategies
  • An unnamed Middle Eastern investor

Goodman Group will serve as a cornerstone investor, holding a 20% stake in the partnership 2.

Existing Assets and Market Position

The newly formed group will take ownership of four existing Hong Kong data centers currently held by Goodman in an industrial partnership, as well as two centers under development. This portfolio represents a significant market share, accounting for approximately 30% of Hong Kong's data center market by power capacity 3.

Global Expansion and Future Prospects

Goodman's move in Hong Kong is part of a broader global strategy in the data center sector. The company has established similar partnerships in Japan and Europe, with the Japanese business expected to reach $1.1 billion in assets by the end of 2025 1.

Potential for Future Growth

Chief Executive Greg Goodman highlighted the potential for further expansion within the company's existing portfolio:

"There's opportunities in the industrial portfolio. We have to basically redevelop them into data centers and they would then come into this partnership for development," Goodman explained in a telephone interview 2.

AI-Driven Demand from China

A key factor driving this investment is the growing demand from China, particularly in the AI sector. Goodman noted:

"There's a lot of inquiry now coming out of China, you've seen a big push in artificial intelligence in China. China is on a big growth path in regard to digital evolution and the whole AI sector. So you can expect a lot of Chinese operators also very interested in Hong Kong." 3

Financial Backing and Future Plans

To support its global data centers business growth, Goodman raised $2.54 billion in a share placement in February 1. The company's substantial A$10 billion ($6.57 billion) industrial property portfolio in Hong Kong presents further opportunities for data center conversions in the future.

Explore today's top stories

OpenAI Launches ChatGPT Study Mode: A New Approach to AI-Assisted Learning

OpenAI introduces Study Mode for ChatGPT, designed to enhance learning experiences by encouraging critical thinking rather than providing direct answers. This new feature aims to address concerns about AI's impact on education while promoting deeper understanding of subjects.

Ars Technica logoTechCrunch logoMIT Technology Review logo

29 Sources

Technology

18 hrs ago

OpenAI Launches ChatGPT Study Mode: A New Approach to

Anthropic Nears $170 Billion Valuation with Potential $5 Billion Funding Round

Anthropic, the AI startup, is close to securing a massive funding round that could value the company at $170 billion, nearly tripling its previous valuation. The deal, led by Iconiq Capital, highlights the growing investor interest in AI companies and raises questions about the ethics of accepting funds from certain sources.

TechCrunch logoBloomberg Business logoCNBC logo

7 Sources

Business and Economy

18 hrs ago

Anthropic Nears $170 Billion Valuation with Potential $5

Meta's Aggressive AI Talent Hunt and Superintelligence Push: High Costs, Uncertain Returns

Meta CEO Mark Zuckerberg's ambitious pursuit of AI talent and superintelligence capabilities comes with massive investments and poaching attempts, but faces challenges in delivering immediate financial returns and competing with rivals.

Wired logoReuters logoCNBC logo

8 Sources

Technology

19 hrs ago

Meta's Aggressive AI Talent Hunt and Superintelligence

Google's NotebookLM Introduces Video Overviews and Enhanced Studio Panel

Google rolls out Video Overviews for NotebookLM, transforming dense content into narrated slideshows. The update also includes a redesigned Studio panel with improved multitasking capabilities.

TechCrunch logoCNET logoThe Verge logo

11 Sources

Technology

18 hrs ago

Google's NotebookLM Introduces Video Overviews and Enhanced

Google Enhances AI Mode with New Features for Students and Researchers

Google introduces several new AI-powered features to its Search AI Mode, including Canvas for study planning, PDF and image uploads on desktop, and real-time video input for Search Live, aimed at improving the research and learning experience.

TechCrunch logoThe Verge logoengadget logo

14 Sources

Technology

18 hrs ago

Google Enhances AI Mode with New Features for Students and
TheOutpost.ai

Your Daily Dose of Curated AI News

Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Spend less time searching for the latest in AI and get straight to action.

© 2025 Triveous Technologies Private Limited
Instagram logo
LinkedIn logo