Australia's Goodman raises $455 million for Hong Kong data centre venture

By Reuters News

Sept 16 (Reuters) - Australia's Goodman Group GMG.AX said on Wednesday it had raised $455 million in equity to advance the data centre pipeline of its Hong Kong consortium, as strong demand for AI infrastructure continues to draw institutional investors.


Here are more details:

  • The capital raise will support the industrial property group's $2.7 billion Hong Kong data centre consortium, which includes global pension funds and investors, and aims to develop data centre businesses across Hong Kong.

  • The capital injection comes as rising demand for AI infrastructure and cloud computing continues to drive investment in data centres globally.

  • Most of the proceeds will be used to fund the fit-out of HKG10, a 50-megawatt data centre under development in Tsuen Wan, Hong Kong, which is scheduled to begin operations in early 2028, the company said.

  • The facility is being developed through the conversion of an existing Goodman warehouse located in one of Hong Kong's established data centre hubs.

  • Goodman said the fundraise includes both existing and new institutional investors.

  • Other investors in the partnership include Dutch investors PGGM and APG, the Canada Pension Plan Investment Board, and CBRE Investment Management's Indirect Private Real Estate Strategies.

  • Goodman's Asia data centre platform comprises more than 500 megawatts of stabilised data centre capacity in Hong Kong and Japan, with another 150 megawatts under construction, the statement added.

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