Wedoany.com Report-Aug. 27, Singapore’s sovereign wealth fund, GIC, is engaging in discussions to invest in data centre assets owned by Goodman Group, a leading industrial property developer. According to the Australian Financial Review, GIC’s dealmakers are exploring a potential partnership with Goodman’s internal team to co-invest in a portion of its data centre portfolio, housed within an unlisted fund. While no agreement has been finalized, the collaboration aims to leverage Goodman’s expertise in data centre development.

Goodman Group has been advancing its data centre capabilities since 2005, establishing itself as a significant player with a global power capacity of five gigawatts. Its portfolio spans completed facilities, secured power, and potential projects across 13 major cities, including North America, Europe, Hong Kong, Japan, and Australia. These sites are strategically located in competitive markets with access to robust power and network connectivity.

Greg Goodman, the company’s founder, stated last week: “Data centres currently make up 57% of our US$12.9 billion development pipeline.” The firm aims to develop five gigawatts of data centre capacity across key regions. Goodman has committed $2.7 billion to form an investment consortium with international pension funds and investors, strengthening its financial foundation for expansion.

In Hong Kong, Goodman owns four existing data centres and is developing two additional facilities, accounting for approximately 30% of the region’s data centre market by power capacity. The company has also secured 1,000 megawatts of power capacity in Tsukuba City, Japan, and maintains similar partnerships in Europe. These efforts reflect Goodman’s strategy to meet the rising global demand for data centres driven by digital infrastructure needs.

The potential investment by GIC aligns with industry trends, as data centre developers often partner with investors to enhance returns. If finalized, this deal would position Goodman as the second Australian-owned data centre business in 2025 to secure backing from a sovereign wealth fund. Such collaborations enable developers to scale operations while maintaining financial efficiency.

Goodman’s global portfolio and strategic focus on high-demand markets underscore its role in supporting the digital economy. The discussions with GIC highlight the growing interest in data centre investments, driven by the need for reliable infrastructure to support advanced technologies. This partnership, if confirmed, would further strengthen Goodman’s position in the global data centre market, contributing to sustainable growth in key regions.