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Industrial property heavyweight Goodman Group is accelerating its transformation into a data centre powerhouse, forecasting that these high-tech facilities will soon make up three-quarters of its $17.5 billion development workbook by mid-2026. The strategic shift comes as global demand for cloud infrastructure and artificial intelligence (AI) computing capacity surges.
According to The Australian Financial Review, Goodman’s growing commitment to data infrastructure is underpinned by a disciplined approach to capital management and a long-term growth horizon. Chief Executive Greg Goodman stressed that while the global race to deliver data centres is intensifying, the company remains focused on realistic execution rather than hype.
“We’ve got to be very careful about what is sustainable – the amount of money that’s required in the sector is billions and billions of dollars,” Goodman said, noting that Goodman’s strong partnerships and capital discipline set it apart from overleveraged rivals.
Currently, Goodman’s $12.4 billion pipeline spans logistics projects and data centres, with 68% already dedicated to data infrastructure. By the end of the 2026 financial year, the group expects to add another $6 billion in data centre developments, pushing total work in progress beyond $17.5 billion.
The company’s expansion plans are both ambitious and global. Goodman aims to have 10 data centre projects under way by next June, stretching from Los Angeles to Paris, Frankfurt, Amsterdam, Spain, Tokyo, Hong Kong, and Sydney. However, Goodman and Chief Financial Officer Nick Vrondas emphasised that only projects that have “gone vertical” – where construction has officially begun – will be included in the workbook.
Goodman also took a firm stance on transparency in the booming but speculative data centre sector, where some developers overstate future capacity. “There’s a lot of comments about data centres globally. There’s global exaggeration to the extreme,” he said, adding that clients such as major tech giants deserve precise commitments on delivery timelines.
Financially, Goodman remains in a robust position. The $66 billion company maintains low gearing levels, 4.3% on its balance sheet and 17.3% on a look-through basis, and earlier this year raised $4 billion in equity, its first capital raising in over a decade. That funding supports not only Goodman’s data centre pipeline but also new partnership vehicles in Hong Kong, Europe, and Australia, each expected to attract billions more in private capital.
This strategic direction follows Goodman’s strong financial performance reported earlier this year, when the group delivered a 9.8% lift in operating EPS and a $2.3 billion operating profit for FY25.
“We’re going to a phase where we’ve got basically record work in progress numbers coming through next year. That’s why we raised the money beginning of the year, because we knew that would be coming,” Goodman explained.
Goodman’s expansion also comes amid a rapidly growing global data infrastructure market. The data centre sector is projected to reach US$4 trillion by 2030, driven by AI adoption and cloud migration. Explore our in-depth report on the global data centre growth outlook.
As Goodman positions itself as a key player in the data infrastructure economy, its strategy reflects a deliberate balance between scale and stability. The company’s next growth frontier, Goodman confirmed, lies in the United States, which he described as a “big opportunity” for future expansion.
With capital partners aligned and record-level projects in motion, Goodman appears well-placed to “walk the talk” delivering the data capacity backbone that will power the next decade of global digital growth.
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