Australia’s Goodman Group will establish a US$2.7 billion investment consortium with international pension funds and investors to develop data centre businesses across Hong Kong, the company said on Friday.
The industrial property group said it had joined forces with Dutch investors PGGM and APG, the Canada Pension Plan Investment Board, and CBRE Investment Management’s Indirect Private Real Estate Strategies. It said an unnamed Middle Eastern investor was also involved.
The group will own four existing Hong Kong data centres held by Goodman in an industrial partnership and two centres currently being developed. Goodman’s portfolio accounts for approximately 30% of Hong Kong’s data centre market by power capacity, it said.
Goodman, which has similar data centre partnerships in Japan and Europe, said the Japanese business will have US$1.1 billion in assets by the end of 2025.
Goodman has a A$10 billion (US$6.57 billion) industrial property portfolio in Hong Kong, part of which could be converted to data centres in the future, Chief Executive Greg Goodman said.
Source: Theedgemalaysia