The country’s biggest listed real estate investor, Goodman Group, says it will “look very different” in five years as it pivots away from warehouses and toward data centres, which now account for more than 40 per cent of its $13 billion in development projects.

Chief executive Greg Goodman described demand for information storage and processing capacity as “next level”, with the emergence of data centres as an asset class in strong demand only underscored by the $20 billion pricetag now on the Macquarie-backed, up-for-sale sector giant AirTrunk.