Goodman Group has raised US$455 million in fresh equity to expand its Hong Kong data centre portfolio, with most of the funding earmarked for a new 50 MW facility that will add significant digital infrastructure capacity to one of Asia’s most land-constrained markets.
The ASX-listed property and infrastructure group said the capital was raised for the US$2.7 billion Goodman Hong Kong Data Centre Partnership, known as GHKDC, from a combination of existing and new institutional investors.
Most of the proceeds will fund the full mechanical and electrical fit-out of Goodman HKG10 in Tsuen Wan, where an existing Goodman warehouse is being converted into a modern data centre rather than demolished and rebuilt.
Goodman will operate the facility, with the first capacity expected to be ready for service in early 2028.
Once completed, HKG10 will add another 50 MW of capacity to Hong Kong, taking GHKDC’s completed portfolio to 275 MW.
A further 50 MW is already under construction for a pre-committed customer, highlighting the continuing requirement for large-scale computing and digital infrastructure within the territory.
The development also illustrates the growing challenge facing data centre operators in Hong Kong, where available land is limited and new infrastructure must increasingly compete for suitable sites, power and access to established connectivity zones.
By converting an existing warehouse within one of Hong Kong’s established data centre availability zones, Goodman is seeking to expand capacity while retaining much of the building’s existing structure.
Paul McGarry, Goodman’s Head of Asia, said: “This equity raise is a clear endorsement of the strategy we set out when we launched the US$2.7 billion investment Partnership just over a year ago.
The continued support of existing investors, alongside contributions from new investors, reflects confidence in the quality of the portfolio, the depth of customer demand and the opportunity for well-located data centre capacity in Hong Kong.
It positions the Partnership to continue delivering the scale, reliability and quality our customers require.”
The HKG10 project also places greater emphasis on adapting existing industrial property for the next generation of digital infrastructure, potentially reducing some of the environmental impact associated with constructing an entirely new building.
McGarry continued: “Goodman HKG10 is a long-term investment in Hong Kong’s digital future. By revitalising an existing building, we are reducing the project’s environmental impact and making responsible use of Hong Kong’s limited land.
Retaining the building’s existing structure avoids emissions associated with demolition and reduces the need for new carbon-intensive structural materials such as concrete and steel, while adding critical infrastructure that underpins Hong Kong’s position as a leading technology hub in Asia.”
Goodman’s broader Asian data centre platform now includes more than 500 MW of stabilised capacity across Hong Kong and Japan, with another 150 MW currently under active construction.
The company’s global pipeline is considerably larger. Goodman reported a 6.4 GW power bank as of 30 June 2026, including 3.6 GW of secured power, 0.7 GW of stabilised capacity and approximately 0.5 GW of data centre capacity under construction across ten projects in eight cities.
The latest Hong Kong investment adds to that expansion while increasing the amount of operational data centre capacity available in a market where physical space and suitable infrastructure remain tightly constrained.
