Goodman Group (ASX:GMG), a global industrial property developer, has released its Q1 FY2025 operational update, reporting robust demand in its logistics and data centre operations, highlighting resilience despite a backdrop of slower global growth.
As of 30 September 2024, Goodman reported a development pipeline valued at $12.8bn across 74 active sites, with data centres accounting for a significant 42% of its ongoing projects. The company’s properties maintain a high occupancy rate of 97.4%, bolstered by strong industrial fundamentals, such as low vacancy rates and a decline in new industrial supply.
The group has expanded its partnerships and reported a 4.9% rise in net property income, with its portfolio now valued at $78.8bn.
CEO Greg Goodman emphasised the increasing demand for digital infrastructure as a substantial growth opportunity, noting the company’s commitment to expanding its data centre initiatives. Goodman is working with key global clients to deliver operational and turn-key data centre solutions, with additional projects slated to begin by 2025.
Goodman Group remains dedicated to sustainability, achieving top scores in the Global Real Estate Sustainability Benchmark. The company plans to continue advancing its strategy of sustainable, high-value assets, a commitment that aligns with its forecasted 9% growth in operating earnings per share for the 2025 financial year.
