Goodman Group has raised $455 million for its Hong Kong Data Centre Partnership (GHKDCP).

Proceeds from the equity raise will predominantly fund the mechanical and electrical fit-out of Goodman HKG10, GHKDC’s data center in Tsuen Wan, which will be operated by Goodman.

HKG10 will be located in an existing Goodman warehouse, with first capacity ready for service in early 2028.

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 $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 center capacity in Hong Kong. It positions the partnership to continue delivering the scale, reliability and quality our customers require.”

GHKDCP launched in July 2025, with Goodman as the anchor investor, taking a 20 percent stake. The rest of the cash was provided by institutional and sovereign wealth partners, including PGGM, APG, Canada Pension Plan Investment Board, CBRE Investment Management’s Indirect Private Real Estate Strategies, and an unnamed Middle Eastern investor.

Its portfolio will eventually comprise six assets providing 180MW of IT capacity.

McGarry said: “Goodman HKG10 is a long-term investment in Hong Kong’s digital future. By revitalizing 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.”

Australian developer Goodman has more than 500MW of stabilized data center capacity in its Asia platform, spread across the supply-limited markets of Hong Kong and Japan, with another 150MW under active construction.

Globally, the company’s power bank stood at 6.4GW as of 30 June 2026, including 3.6 GW of secured power.