Goodman Group Launches $2.7 Billion Consortium to Fuel Hong Kong Data Centre Expansion Amid APAC AI Boom

How Goodman Group Plans to Invest in Hong Kong Data Centres

Australian industrial property group Goodman Group is launching a US$2.7 billion investment consortium focused on data centres in Hong Kong. This move taps into the growing demand for AI infrastructure across Asia. Goodman is partnering with international pension funds and investors, including PGGM, APG, the Canada Pension Plan Investment Board, and CBRE Investment Management’s Indirect Private Real Estate Strategies.

The consortium will acquire four existing data centres in Hong Kong currently owned by Goodman through an industrial partnership, with two new data centres under development. Goodman’s portfolio represents about 30% of Hong Kong’s data centre market by power capacity, positioning the group as a major player in the region.

Supporting AI Infrastructure Growth in APAC

The Asia-Pacific data centre market is experiencing significant growth driven by escalating demand for AI and machine learning technologies. Global tech companies are investing heavily in data centre developments to support this expansion. Projections estimate the market could reach US$150.59 billion by 2029.

However, the region faces workforce challenges, with an anticipated retirement of half its engineering staff by 2025 and a global demand for approximately 2.3 million data centre professionals. Goodman currently holds a US$6.57 billion industrial property portfolio in Hong Kong, with plans to convert parts of it into data centres.

Group CEO Greg Goodman highlighted opportunities arising from China’s digital evolution and AI sector growth, noting strong interest from Chinese operators in Hong Kong’s data centre market. This reflects Hong Kong’s strategic position as a hub connecting major technology centres.

Goodman’s Global Data Centre Reach

Goodman’s investment strategy extends beyond Hong Kong, with data centre partnerships in Japan and Europe. In Japan, the group has secured 1,000 megawatts (MW) of power capacity in Tsukuba City. Globally, Goodman holds about 5 gigawatts (GW) of power capacity across 13 markets.

This diversified portfolio, combined with strong investor backing, positions Goodman to compete effectively with established data centre operators in APAC such as Equinix, Amazon, Microsoft, and Digital Realty.

Earlier in 2025, Goodman raised US$2.54 billion through a share placement aimed at funding global data centre expansion. With China’s data centre market valued at US$47.23 billion in 2024 and expected to nearly double by 2030, the region remains a critical focus for growth.

Hong Kong’s proximity to key technology hubs like Singapore, Shenzhen, Tokyo, and Bangalore makes it an ideal location for enterprises requiring low-latency data storage solutions. Goodman’s existing partnership with China-based GDS Holdings, which leases its Hong Kong data centres, further strengthens its market position.

• Investment consortium amount: US$2.7 billion
• Goodman’s Hong Kong data centre market share: ~30% by power capacity
• Global power capacity held: 5 gigawatts across 13 markets
• Key partners: PGGM, APG, Canada Pension Plan Investment Board, CBRE Investment Management

For professionals in real estate and construction, Goodman’s approach underscores the growing importance of industrial property adaptation to meet data centre demands. Converting industrial assets into data centres offers a strategic path for future-proofing portfolios amid the AI infrastructure surge.

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