Goodmann Group (ASX:GMG)a global industrial property developer, released its first quarter fiscal 2025 operating update, reporting robust demand in its logistics and data center operations, highlighting resilience despite a slower global growth backdrop.
As of September 30, 2024, Goodman reported a development pipeline worth $12.8 billion across 74 active sites, with data centers representing a significant 42% of its ongoing projects. The company’s properties maintain a high occupancy rate of 97.4%, supported by strong industrial fundamentals, such as low vacancy rates and a decline in new industrial supply.
The group expanded its partnerships and reported a 4.9% increase in net property income, with its portfolio now valued at $78.8 billion.
CEO Greg Goodman highlighted the growing demand for digital infrastructure as a substantial growth opportunity, underscoring the company’s commitment to expanding its data center initiatives. Goodman is working with major global customers to provide operational and turnkey data center solutions, with additional projects expected to begin by 2025.
Goodman Group continues to be dedicated to sustainability, achieving top scores in the Global Real Estate Sustainability Benchmark. The company plans to continue to execute on its sustainable, high-value asset strategy, a commitment that is in line with its expected 9% growth in operating earnings per share for the 2025 financial year.