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

Australia's Goodman Group said on Wednesday it had raised US$455 million (HK$3.57 billion) in equity to advance the data center 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 center consortium, which includes global pension funds and investors, and aims to develop data center businesses across Hong Kong.
• The capital injection comes as rising demand for AI infrastructure and cloud computing continues to drive investment in data centers globally.
• Most of the proceeds will be used to fund the fit-out of HKG10, a 50-megawatt data center 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 center 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 center platform comprises more than 500 megawatts of stabilized data center capacity in Hong Kong and Japan, with another 150 megawatts under construction, the statement added.

Reuters

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