Goodman Group has established the Goodman Hong Kong Data Centre Partnership (GHKDC), a new $US2.7 billion ($A4.1 billion) data centre dedicated investment vehicle. GHKDC is the only private institutional investment platform focused solely on Hong Kong’s data centre market.
Key points:
- Private institutional investment vehicle focused exclusively on the Hong Kong data centre market
- Initial portfolio includes six assets of 325 MVA of primary utility power (>180MW IT load), over 2.3 million sq ft including two data centres under construction
- Occupied by major global technology customers
- Goodman holds a 20% cornerstone stake, alongside leading institutional and sovereign wealth partners, including PGGM, APG, Canada Pension Plan Investment Board (CPP Investments), CBRE Investment Management’s Indirect Private Real Estate Strategies (CBRE IM Indirect) and a Middle Eastern investor.
The initial portfolio includes:
- Four fully stabilised data centres
- Two data centres under active development.
Once complete, the six assets will comprise over 2.3 million square feet of gross lettable area and 325 MVA of primary utility power, equating to more than 180MW of IT load. Occupied by major global technology customers, Goodman’s portfolio accounts for approximately 30% of Hong Kong’s data centre market by power capacity. The growing global adoption of cloud and AI services is generating demand for data centres in metro areas, close to end users, where Goodman’s Hong Kong facilities are located.
GHKDC follows the formation of the Goodman Japan Data Centre Venture in 2023, which will reach US$1.1 billion in assets by the end of this year, expanding Goodman’s Asia Data Centre platform.
Paul McGarry, Goodman’s Head of Asia, commented, “Demand for data centres in Hong Kong and Tokyo continues to grow with limited supply alternatives. The strength of the Goodman platform is enabled by our land in prime locations, secured power, an experienced team, and access to capital. Combined, these factors position us well to continue delivering to the scale and quality that meets the needs of our customers. With a future development power bank of over 1GW across these major cities, we are confident in our ability to deliver the modern, high-performance infrastructure essential to Asia’s digital economy.”
