Real estate firm Goodman is raising billions of dollars to help fund its data center ambitions.
As part of its H1 2025 results, the company announced plans to raise AU$4 billion (US$2.5bn) that will partly be used to fuel its data center build-out.
The company said the fundraise will be made through a fully underwritten ‘pro-rata’ institutional placement, and will provide the group with “greater financial flexibility to pursue a number of growth opportunities across Goodman’s logistics and data center operations.”
The money will enable the company to “commence the development of new powered shells and fully fitted projects.”
Data centers currently make up 46 percent of Goodman’s AU$13 billion (US$8.2bn) development work in progress. The company claims to have a global power bank of 5GW across 13 cities, of which 2.6GW is secured and 2.4GW is in the “advanced stages” of procurement.
By June 2026, Goodman expects to have commenced the development of new powered shells and fully fitted facilities, totaling approximately 500MW. These projects, across Sydney, Melbourne, Los Angeles, Tokyo, Paris, Amsterdam, and Hong Kong, will have an estimated end value of greater than AU$10 billion (US$6.3bn), according to the company.
“Goodman’s strategy of providing essential infrastructure for the digital economy – both through our logistics facilities and data centers – has set a strong foundation for the growth we expect to see by executing the global data center opportunity before us,” said Goodman CEO, Greg Goodman. “Goodman is well positioned to maximize the significant data center demand across our markets. The additional funds raised provide us with greater financial and operational flexibility to manage the next phase of growth.”
Goodman is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the UK, and the Americas. It has projects in operation or development across Hong Kong, Australia, Germany, and Japan.
In its latest earnings presentation, Goodman noted the opportunity to create a new operating company for data centers that could “create significant enterprise value,” though there’s no suggestion it is actively working towards this.
