The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Interested in a Corporate TUD+ Membership? Access premium content, site tours, event discounts and networking opportunities
Interested in a Corporate Membership? Access exclusive member benefits today
Enquire NowEnquire
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
5
print
Print
IndustrialAna NarvaezMon 26 Aug 19

Industrial Boom Propels $5bn Development Workbook for Goodman

da25a77e-83dc-4b5b-8941-0ec384351eac

In a reporting season beset by lower valuations and subdued profits, Goodman Group’s global logistics portfolio has returned a healthy 11.4 per cent increase in operating profit to $942 million.

A $3.8 billion lift in property valuation gains has boosted Goodman’s assets under management to $46 billion, up 21 per cent, while its operating earnings per share increased 10.5 per cent to 51.6 cents.

The group, led by chief executive Greg Goodman, has well and truly made its move on global real estate markets, with 55 projects in 13 countries including China, Japan and the United States.

The group has a $4.1 billion workbook of industrial development under way, which is set to reach $5 billion before the year is out.

“Our continued strategic focus on owning, developing and managing high-quality industrial properties for customers in key urban centres is delivering positive results,” Goodman said.

The group reported 98 per cent occupancy across its portfolio.

Goodman said that the group is continuing to acquire sites in high barrier-to-entry markets around the world.

The group has high geographic exposure to the tightly-held Hong Kong industrial market—18 per cent of the group’s assets— Germany, greater Los Angeles, Auckland and Tokyo.

In Sydney, the group holds 26 assets with a total value of $1.8 billion.

Commenting on the group’s outlook, Goodman referred to structural changes in e-commerce and technology as driving momentum in the supply chain efficiencies of its customers.

“The evolution of our customers’ supply chains is continuing at pace, as growing consumer expectations and demand require them to be faster and more agile,” Goodman said.

Goodman services a customer portfolio that includes Amazon, Deutsche Post, Coles and Maersk, and is forecasting a $1 billion operating profit in the next year—up 10.4 per cent.


IndustrialAustraliaReal EstatePlanningPlanningSector
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
Exclusive

Watchdog’s Court Loss Throws Spotlight on Union Balancing Act

Clare Burnett
6 Min
Time and Place's The Queensbridge Building at 90 Queens Bridge Street in Melbourne's Southbank.
Exclusive

Innovation Keeps Time & Place’s Southbank Skyscraper Rising

Marisa Wikramanayake
6 Min
Breathe Architecture founder Jeremy McLeod in front of his Featherweight Home design
Exclusive

Nightingale Founder’s Bid for Affordable Architectural Kit Homes

Leon Della Bosca
7 Min
View All >
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
Data, 3D tech and careful research are vital, but count for little without the courage to back it up, says James Maitlan…
LATEST
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
3 Min
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
3 Min
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Westmead Gene Technologies Building EDM
Life Sciences

Plans for $272m Parramatta Biomedical Facility Go Public

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/industrial-boom-propels-5bn-development-workbook-for-goodman