Australian-based global real estate company Goodman Group has sharpened its focus on digital infrastructure, with data centres now accounting for the bulk of its development pipeline as the developer expands its global power bank and secures fresh capital partnerships. Reporting an operating profit of AUD 1.2 billion for the half year to 31 December 2025, the Australian-listed group highlighted what it described as strong momentum in its data centre platform.
By June 2026, Goodman expects to have approximately AUD 18 billion of work in progress, of which more than AUD 14 billion (73%) will be data centre projects. The group is targeting 0.5GW of data centre capacity in projects by the end of FY26. At the same time, it has expanded its global “power bank” – sites it owns with secured or allocated power – from 5GW to 6GW, primarily across Australia and continental Europe.
Chief executive Greg Goodman said the group was continuing to “provide high quality essential infrastructure for the digital economy in supply constrained markets”.
“We’re building into strong demand for metro locations across both logistics and data centres,” he said. “Data centre customers require facilities with low-latency and high connectivity to meet the unprecedented levels of capex spending forecast across the sector.”
Goodman’s strategy hinges on securing power, land and capital in metropolitan markets where grid access and planning approvals are increasingly constrained. The company argues that construction-ready powered sites take years to assemble, positioning its existing land bank as a competitive advantage.
“Power, sites and capital are critical to being able to service demand and provide delivery certainty for customers,” Goodman said. “Our power bank has grown to 6GW on sites we own across 16 metro markets. We are on track to have data centre projects, providing 0.5GW of power, in development by the end of FY26.”
Global partnerships
The company has already established a EUR 14 billion data centre development partnership in Europe, aimed at funding multi-year projects, and expects a new data centre partnership in Australia to complete in 2026. Goodman has previously detailed its European vehicle, which brings in large institutional capital to co-fund hyperscale and colocation developments.
In Australia, the group has commenced work on a 90MW data centre project, SYD01, in Artarmon, Sydney. Metro Sydney has become one of the country’s key digital infrastructure hubs, driven by cloud and AI-related workloads, though access to grid capacity remains a gating factor for new developments.
Goodman said engagement with data centre customers was progressing across multiple sites, with commitments expected during 2026. While the company does not name specific tenants, its model typically involves pre-leasing to hyperscalers or major cloud and enterprise customers before or during construction.
The pivot towards data centres reflects a broader structural shift in Goodman’s portfolio. Historically known as a logistics property developer, the group continues to build warehousing and distribution facilities, but digital infrastructure now dominates its development capital allocation.
For the near term, the company expects demand for digital infrastructure to “materially exceed supply” in its target markets. That imbalance is being reinforced by rising AI-related capital expenditure, growing data localisation requirements and enterprise cloud migration.
“The scale and locations of our powered land bank is rare,” Goodman said. “Construction-ready powered sites take many years to acquire, plan, secure power, undertake infrastructure works, and ultimately deliver.”