Why it matters: Developing new logistics facilities is the engine room of the company’s earnings growth.
Higher rents in its industrial property mean the group avoided the write-downs hitting other property funds.
Operating profit rises 17 per cent to $1.78 billion.
Goodman Group is set to become a global data centre powerhouse over the next decade after chief executive Greg Goodman unveiled plans to develop three to four gigawatts’ worth of these facilities across its portfolio – equivalent to about $30 billion in end value.
Fuelled by the uptake of artificial intelligence, the industrial property giant is already well on track to delivering on this lofty target after revealing that 30 per cent of its $13 billion of projects being built around the world are data centre developments.
