Goodman Group is a global commercial and industrial property development and management company.
The Goodman Group started off as a private property trust in 1989 and has since evolved into the largest property group listed on the Australian Securities Exchange.
The company focuses on buying, developing, and managing high-quality industrial assets in key areas across the world, particularly in and near important gateway cities where demand is high and transformative developments present numerous commercial possibilities.
Innovation, determination, integrity, and sustainability are the underlying values that underpin the day-to-day operations of the Goodman Group.
2021 Statistics Highlighting Goodman Group’s Success
The following statistics shed light on the success of the Goodman Group:
- Revenue of $3.8 billion
- Operating profit of $1.2 billion
- Assets worth $68.7 billion
- Global workforce of 941 employees
- Presence across 14 countries
- More than 1700 customers served
Goodman’s incredible growth can be summed up by the fact that it began from one building in South Sydney to managing over 400 properties across 14 countries.
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Goodman Group’s Strong Foundation As An Industrial Property Group
Gregory Goodman founded the Goodman Group in 1989 under the name Goodman Hardie Industrial Property Trust.
The company laid down a strong foundation, setting itself up for success right at the very start.
Goodman Hardie Builds An Attractive Portfolio
Goodman Hardie officially began business in the early 1990s when Gregory Goodman purchased the first industrial property on Mitchell Road, Erskineville, in Sydney, Australia.
In 1995, the company was listed on the Australia Stock Exchange with eight properties in Sydney and a market capitalization of A$37 million ($68 million today after adjusting for inflation).
The company entered New Zealand in 1999 and became listed on the New Zealand Stock Exchange too as Goodman Property Trust.
In 2000, the company focused on increasing Unitholders value through significant leasing transactions to tenants such as Coca-Cola, Amatil, BBC, and Unilever.
It also enhanced Unitholder's value through successful acquisitions and developments. Some of the major acquisitions included Chifley Industry Park.
In order to optimize future opportunities for growth, Goodman Hardie had also secured the first right of refusal for two years over any proposed development within the Park.
The Creation Of Macquarie Goodman Brand In 2000
An interesting development for the company came in October 2000 when the merger between the Goodman Hardie Industrial Trust and the Macquarie Industrial Trust was announced.
The merger led to the creation of the biggest sector-specific industrial trust in the market, with more than $1.4 billion ($2.3 billion today after adjusting for inflation) of industrial property assets under management (AUM) and development.
The resulting entity was called Macquarie Goodman - a name meant to enhance market and investor recognition by co-branding the merged trust.
The assets of the merged trust amounted to more than a billion dollars, making it Australia’s biggest listed industrial trust.
The merger increased the company's size and liquidity, along with enhancing its balance sheet and funding flexibility.
Goodman Reaps The Benefits Of The Merger
In 2001, the long-term benefits of the merger started emerging.
Macquarie Goodman reported an increase in funds under management to over $1.1 billion ($1.8 billion today after adjusting for inflation). The net profit also rose to $60.4 million ($96.9 million today after adjusting for inflation). The company also reported encouraging upwards movement of the stock price following the merger.
Macquarie Goodman’s incredible growth during the year was due to the successful interaction of its funds' management, property services, and property development and management businesses.
The company's vision was to become the leading property service provider of industrial and business park facilities.
The company was well-positioned to grow its assets by adding to its high-end portfolio of tenants that included major corporate names.
Macquarie Goodman Acquires A Leading Position
The company's exceptional performance in 2002 accelerated its climb to the top as Australia's leading industrial property service and space provider.
The company reported a two-fold increase in its net profit, market capitalization, and stock price.
The company also initiated a joint venture with Ascendas Pte Limited in Singapore. The venture allowed the company to diversify its business internationally and capitalize on opportunities for further capital growth.
The company also renewed its commitment to the fundamental principles that had helped establish the company as a leader in its field, such as listening to the customers' needs.
Goodman Enhances Customer Service To Grow Its Brand
Providing exemplary customer service became one of the major cornerstones of Macquarie Goodman’s business agenda.
Macquarie Goodman's leasing results for 2003 were quite impressive as leases from high-profile companies added to its income and stability. Some of the companies on Macquarie Goodman’s customer list were KFC, Sun Microsystems, and Voicera.
The company’s comprehensive customer service model included sourcing, planning, creating, managing, and owning premium industrial business parks and office park assets.
In 2004, the model delivered significant portfolio results. The company completed or commenced around 395,000 sqm of new space, leased around 402,000 sqm of existing space, and secured 17 additional properties. Consequently, its assets grew by 43.4% on a yearly basis.
How Was The Macquarie Goodman Group Formed?
In October 2004, Macquarie Goodman Management and Macquarie Goodman Industrial Trust revealed plans to merge to form the Macquarie Goodman Group.
The merger had the potential to propel the new entity into the top five listed industrial property companies in the world.
Macquarie Goodman Industrial Trust’s high-quality investment portfolio coupled with the proven management expertise of Macquarie Goodman Management was expected to give rise to a fully integrated industrial property group.
The merger also addressed the structural changes taking place in the listed property trust sector. It was especially instrumental in helping achieve high-level earnings growth that would not have been possible through an organically growing portfolio.
Subsequently, the company ventured into foreign markets as part of its global expansion efforts. In 2005, it entered China, Hong Kong, and the United Kingdom.
In 2006, the company entered Europe and built its first European Amazon e-commerce facility in Leipzig, Germany.
The Business Expands Under The Goodman Group
In 2007, the Macquarie Goodman Group launched its new global brand - Goodman Group.
The creation of Goodman Group was essentially part of a significant rebranding project that consolidated all of the company’s global businesses.
The company's previous expansion efforts had introduced its operations into foreign markets worldwide. This development also reinforced the company's standing as a global player as it occupied a leading position in each of the markets it operates.
Despite the company's expansion, it remained focused on its core business which was to own, develop, and actively manage industrial and business property.
In 2007, the company also entered the Japanese market by acquiring Japan Representative (J-Rep) by Macquarie Goodman Asia. J-Rep was a logistics-focused property company with a similar business model to Goodman.
The company continued to report strong financial results with a steady year-on-year increase in profit during the subsequent years.
Key Takeaway 1: Use Laser-sharp Focus To Get The Results You Want
Goodman was able to gain monumental success early on in its journey, and this was credited to its focused vision.
From the beginning, the company was clear on its business objectives - to create value for customers and investors. This is why it put its customer service model at the heart of the business and prioritized listening to the customer's needs.
It took the necessary steps, such as the merger of the Macquarie Goodman Industrial Trust and Macquarie Goodman Management, to achieve the growth that would not have been possible organically and thus generate greater returns for the investors.
Goodman Group Expands Its Business Network
The period between 2010 to 2014 was of critical importance for Goodman since it not only expanded its business ventures in investment and operations but also managed to secure new heights of profits and value building for the team.
How Goodman Group Expanded Globally?
In 2010, Goodman explored business opportunities in foreign markets through strategic joint ventures.
One of the key achievements for Goodman in 2010 was when the China Investment Corporation (CIC) made a $500 million ($623 million today after adjusting for inflation) equity investment and mutually strengthened each other's business.
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This joint endeavor with the CIC yielded an opportunity for Goodman to participate in developing a business and logistics hub in the Beijing-Tianjin Area in China.
Other valuable partnerships included the Canada Pension Plan Investment Board (CPPIB) and the CB Richard Ellis Realty Trust (CBRERT), which brought around $1.1 billion ($1.4 billion today after adjusting for inflation ) in Goodman's equity capital. Thereby relating a higher quality of operation management and interest in delivering initiatives soundly to new projects.
The company achieved leasing of around 2 million sqm of land for business ventures in property services and management, resulting in a total annual rent value of $238 million ($296 million today after adjusting for inflation).
Overall, in 2010, the company took part in 23 projects across nine countries, with a net value worth of $1.2 billion ($1.5 billion today after adjusting for inflation), marking 2010 as a highly successful financial year.
Goodman Explores New Initiatives With Foreign Partners
During 2011, Goodman acquired multiple businesses and funds, took part in bigger and better projects, and achieved a statutory profit of approximately $392 million ($473 million today after adjusting for inflation).
It also expanded projects and interests with its major business partners like CIC, CPPIB and All Pensions Group (APG).
Goodman acquired and privatized the ING Industrial Fund in 2011, which added $2.5 billion ($3 billion today after adjusting for inflation) in AUM for the company in areas like Europe and Australia.
Halfway through the year, Goodman sold half of their business with the company Interlink to CPPIB for $274 million ($330 million today after adjusting for inflation), which included a 224,000 sqm distribution facility. This investment helped open up the Asia Pacific side for new opportunities for Goodman.
The company also made progress in exploring opportunities with the Japanese Logistics Market. One key development in achieving success in this area was a contract exchange for acquiring 60,000 sqm of land in the Osaka Bay area for developing an office for the Goodman Group (which was completed in 2012).
Goodman Branches Out To Important Regions
In 2012, Goodman, as a company based in Australia, tried to enter the US market through acquisitions and partnerships.
Goodman secured sites for offices from California-based Birtcher Development and Investments. These sites were in Los Angeles, Philadelphia, and the San Francisco Bay Area.
This development greatly helped Goodman in stepping into the American Logistics Market.
The year 2012 also marked the company becoming one of the biggest industrial developers in China, with around 4 million sqm of land. It also secured a site in Tianjin, a port city that gave way to a partnership with a fashion retailer, Moonbasa, as well.
In November 2013, Goodman partnered with WTorre in Brazil for a joint project, for which they created a subgroup, WTGoodman. The venture included the construction of industrial property in Rio de Janeiro.
Goodman continued its forward-thinking approach toward the diverse needs of consumers as well as proper management of assets and investment opportunities of their partners.
Consequently, the company managed to have its operations running in areas like Australia, New Zealand, Asia, Europe, and North and South America.
By June 2014, the company had established its global footprint; It was now based in 16 countries.
Key Takeaway 2: Expand Strategically In New Markets
Although Goodman was expanding its operation worldwide, it still maintained a strategic focus and targeted key locations and sites.
The company's investments in the US received a strongly positive reaction, and the company acquired its first property in Oakland called the Goodman Logistics Center Oakland.
Owing to its customer-centric and forward-thinking approach, the company established and reinforced its presence in key locations like Australia, New Zealand, Asia, Europe, and North and South America.
By doing so, the company consistently achieved strong financial results and accumulated assets worth $26.8 billion ($32.7 billion today after adjusting for inflation) under its management.
Goodman Group Scales New Heights As The Largest Industrial Property Group
Goodman had consistently been on an upward trend over the last few years as its strategies yielded positive results.
During the period 2015 to 2020, the company scaled even greater heights as its financial performance remained strong, even during the COVID-19 pandemic.
Due to its long-term vision, the company was not only able to accommodate the changing market trends but profit off them.
Goodman Marks Another Year Of Growth Through Successful Projects
Continuing its trend of upward progress, Goodman reported particularly excellent financial progress in 2015.
Its operating profits hit an outstanding $653 million (796.5 million today after adjusting for inflation), with a 9% growth from the previous year.
The continuing partnership between the Goodman Group and Canada Pension Plan Investment Board (CPPIB) increased the company’s equity commitment to the Goodman North American Partnership (GNAP) by US$500 million.
The company also undertook a huge project in June 2015 for the sake of urban renewal realizations that amounted to approximately $1.1 billion.
However, it is essential to note that Goodman earned at least 90% of the $2.5 billion revenue built on developments through pre-committed projects and the completion of such. Around 85% were from third-party partnerships and associations with the company.
In 2015, the company managed to sell investment properties that amounted to $1.9 billion in Australia, the United Kingdom, and Europe. This was also the year that the company's properties, projects, and assets in New Zealand experienced a boost in progress and more development than in Australia.
Goodman also announced the initiation of more projects, i.e., Auckland's Viaduct Quarter and Highbrook Business Project.
Long-term Strategies Come To Fruition
2016 was another successful year for Goodman since they managed to increase their operating profit by 9%, bringing it up to $715 million.
The company maintained an amazing financial position on the balance sheet, and the group liquidity had also reached new heights.
Goodman managed to find the right way to gain a superior financial position by utilizing a long-term plan that consistently showed results over the past five years.
The results of its strategies are reflected in the properties as well; it provided both the company and the customers an edge.
This is apparent in the relocation of Fuji Xerox. For the company, there were significant benefits as it not only conditionally exchanged on the sale of the Waterloo Road site but also provided Fuji Xerox with a better property solution and added them to their Australian portfolio.
The impressive results were based on the discipline and hard work of the executive team. They were achieved without using financial leverage, and the possible cost that would lead to expansion was also kept in mind.
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Goodman Achieves Balanced Success Across Operations
Because of Goodman's sound management of assets and business transactions, it delivered net security holder returns amounting to 15%.
The customer base remained as strong as ever due to long-term leasing, which heavily contributed to the company's growth.
2017 was another outstanding year for Goodman Group, with the company’s operating profits standing at $776 million, up 8.6% from 2016.
Goodman was able to hold a solid financial position because of its ability to balance risk and return in development activities prudently.
The company also had a quality portfolio supporting sustainable growth, a key focus of its endeavors throughout the years. It even managed an appropriate combination of resources across regions and business areas.
Goodman continued to gain from global operations with offshore earnings that contributed to 59% of its operating earnings.
The company’s US endeavors alone contributed to 18% of the company's development work in progress (WIP), with $1.3 billion in AUM across 11 properties.
The management and development businesses had been Goodman’s key to growth in 2017. The assets sales program also resulted in lesser expenses overall, contributing to better upwards growth for the company.
Goodman Maintains A Successful Streak With Its Corporate Performance
Goodman performed exceptionally well in the financial year of 2018, with an operating profit of $845.9 million, increasing a steady 9% compared to the previous year.
The worker’s performance during the year was commendable and led to long-term success and better numbers for the company's progress.
The company’s corporate environment in 2018 enabled it to be flexible and capitalize on the opportunities that might deliver on a long-term strategy.
Property fundamentals also steadily improved during the year and achieved a net property income growth of 3.2%, with 98% occupancy across the board.
Work in progress (WIP) increased to $3.6 billion across 80 projects in 12 countries. Goodman Group and their partners continued to perform strongly, with 15% average returns for their partners and investors in 2017.
Goodman Maintains Strong Financial Performance During The Pandemic
In 2019, Goodman's performance continued to be very favorable despite the pandemic and reported an operating profit of $942 million (increasing 11.4% from 2018).
The long-term global strategy balanced the financial and human resources, which led to opportunities in the ever-changing market conditions.
The company altered the location and type of properties developed to accommodate industrial changes. The properties were located in high-demand areas like the US, New Zealand, Continental Europe, etc., as evidenced by the $3.8 billion increase in property valuations over the year.
The international business also continued to grow, with 68% of earnings and the majority of the team spread across 16 countries outside Australia.
Goodman further invested in the US and Greater China in 2019, where the returns were finally being seen. Seeing the overall progress from the years 2016 to 2019, Goodman's US presence grew considerably along with AUM that went from $1 billion to a portfolio with a value of more than $5 billion.
In Asia, the company’s AUM grew to $16 billion, along with higher valuations and a 99% occupancy rate.
In Europe, since the company’s focus was narrowed to quality assets and services, it also yielded positive results. Goodman’s operations in Australia and New Zealand also continued to show strong results.
Goodman Group Outperforms The Market
With an operating profit of $1.1 billion in 2020 (an upwards increase of 12.5% from the financial year of 2019), 2020 had been the strongest financial year for the company.
Despite the global economic challenges due to the unforeseen onset of the COVID-19 virus, the group still outperformed the market by a staggering 20%.
In 25 years, Goodman evolved from being an Australian company into a global powerhouse, with approximately 70% of earnings at that point from international markets.
The company's long-term strategies really paid off. Over time, the relationship with many investors and partners went beyond one region and proliferated across several regions leading to global expansion.
Goodman played an important role in delivering and distributing critical supplies and consumer goods to a global logistics market by providing the essential infrastructure needed to do so.
Over the past ten years, the company has gained expertise, financial resources, and a well-located $51.6 billion property portfolio to sustain it through various market conditions.
Key Takeaway 3: Pursue Diverse Avenues Of Growth
The company did not restrict itself in terms of its approach to pursuing growth.
Between 2015 to 2020, the company yielded positive results from various projects and strategic initiatives. It did not rely on any single strategy for achieving success; instead, it ensured that it balanced the distribution of resources across all business objectives.
Goodman did it all, whether it be overseas expansion, adapting its portfolio, or even just initiating new and innovative development projects.
The successful interaction of all its strategic imperatives resulted in a consistent and accelerated growth trajectory.
Goodman Group Today & Its Digital Transformation
Today, the Goodman Group is a dynamic business that is committed to remaining agile, embracing new opportunities, and meeting the demands of an escalating digital economy.
The company delivered a strong financial performance in the year 2021 despite facing an extremely challenging period.
The success was possible because of its commitment to a comprehensive business strategy that not only encompassed its property investment strategy but environmental and sustainability targets as well.
Goodman Strikes A Balance Across Its Business Objectives
For a major ASX-listed company such as Goodman, whose operations are spread across 14 countries, balancing its focus on various business objectives is crucial.
Goodman has endeavored to maintain a balanced entrepreneurial spirit which means incorporating a remuneration strategy that provides for the company’s global network of people and communities. By doing so, the company fosters an engaged and committed environment for its loyal and experienced team.
Such an approach reflects the company’s attention to detail which has contributed to its success over the years. It also gives rise to balanced growth across all business aspects.
This is also illustrated by how Goodman’s strategy is constantly evolving in accordance with changing world dynamics. The company’s asset sale program has allowed it to focus on infill markets with the potential for higher intensification of use and increased focus on sustainability.
The development was prompted by the fact that the customer demand for such properties outweighs the supply. The pandemic induced growth in e-commerce penetration across the company’s markets further reinforced this demand.
Goodman’s Strong Balance Sheet Offers Financial Stability
A strong balance sheet with low gearing levels and strong liquidity allows Goodman to capitalize on new opportunities and protect the company from challenging times.
One way in which Goodman ensures its strong financial capability is by maintaining close connections with its international Investment Partners. This partnership ensures readily available liquidity worth billions, enabling Goodman to acquire scarce and highly valuable properties.
Thus, Goodman's financial sustainability heavily contributes to its competitive edge as well.
Moreover, financial sustainability is becoming increasingly crucial as the company focuses on infill markets. These markets entail significantly longer development time frames coupled with the implementation of Goodman’s sustainability goals which also require up to 10 years.
Thus, due to the increased period for these projects, long-term financial sustainability becomes crucial for financing projects of ever-increasing scale and complexity.
Goodman Incentivizes The Senior Leadership Through Remuneration
Goodman also introduced a new remuneration structure in 2021 in hopes of retaining talented and experienced individuals within a competitive labor market.
Given the nature of the work done by Goodman, particularly in terms of its longevity, the business has opted to create a 10-year Long-Term Incentive Plan. This was made with the senior leadership team in mind for increased alignment with security holders.
This initiative aided the organization in achieving its goal of influencing people's long-term decision-making and willingness to consider environmental and sustainability objectives when evaluating the company's operational success.
The ten-year plan will allow the firm to retain qualified and experienced personnel, allowing it to maintain a competitive edge in the market.
Goodman Group Positioned For Success
Goodman’s strong financial performance in the year was also attributable to its ability to adapt according to shifting market dynamics.
As global uncertainty and market disruption continued into 2021, Goodman's agile culture protected the company from crises. Thus, the company was able to report an operating profit of $1.2 billion and $58 billion worth of AUM.
Moreover, Goodman found itself in an ideal position for growth in fast-paced markets because of its wide-ranged portfolio with assets in targeted locations worldwide.
The company had been anticipating the demand for infill properties, and its strategy paid off as global online sales went up due to the rise of e-commerce.
Goodman's portfolio occupancy is currently up to 98.1%, as the company had leased around 3.9M sqm of space just during the year 2021.
Goodman Group Pursues Sustainable Growth
Goodman has incorporated its organic growth objectives within a sustainability framework.
The company also specializes as a leader in the urban regeneration of logistics sites which is a highly valuable expertise due to the rising demand for the sustainable redevelopment of brownfield sites.
Such initiatives also enjoy significant support from the public sector and help reduce the dependence on greenfield land for development purposes. Instead, this approach pursues development by making use of existing infrastructure.
Goodman also collaborates with local municipalities and planning authorities on innovative land use developments. These projects contribute toward optimal space utilization with an emphasis on multi-storey buildings.
Goodman Strategically Secures Its Future Prospects
Goodman is once again positioning itself for future growth by adapting to the rapid digitalization of the world.
Following the changes in consumption trends prompted by the pandemic that swept across both the physical and digital spaces, the company observed an increased demand for warehouses and logistics facilities.
Goodman’s existing portfolio was well suited for this rise in demand, which led to significant growth in its rental income and ensured high occupancy levels.
As the company remains committed to its agile and consumer-centric approach, it is also adapting to changing consumption habits across the physical and digital space.
Overall, Goodman is ideally positioned to capitalize on future opportunities.
Goodman Successfully Meets The Demands Of The Digital Economy
With digital technology advancing at a rapid pace, Goodman is also evolving to meet the expectations and demands of the digital economy.
The global pandemic had accelerated e-commerce through the increased consumption of digital media and services. Due to this shift, customers’ expectations for immediacy are on the rise as global online sales increased by 30% in 2020 alone.
Goodman’s long-term infill strategy of owning, developing, and managing high-quality, sustainable properties that are in proximity to its customers has provided the customers with the essential infrastructure (e.g. warehouses, and logistics facilities) to meet the demand for e-commerce.
Moreover, the success of this strategy has encouraged Goodman to pursue new developments, especially multi-storey and higher intensity buildings within the urban locations. This is because not only do these developments enable the distribution of essential goods during crises such as the pandemic, but also cater to the long-term needs of the people in the locality and Goodman’s customers.
Goodman was well-positioned to respond to the increased demand from across both the physical and digital spaces as it had already accumulated infill properties on its portfolio beforehand.
Key Takeaway 4: Anticipate Market Trends & Adapt Accordingly
The key to Goodman’s success during the year 2021 was its ability to anticipate changing market dynamics and position itself for future growth.
The company adapted its portfolio in accordance with anticipated demand in specific sectors such as the infill properties, warehouse and logistic facilities, and sustainable redevelopment of brownfield sites.
Although Goodman boasts a wide-ranged portfolio, it manages to pursue focused growth by strategically acquiring targeted sites and gleaning crucial geographic insights. By doing so, the company is able to remain more in tune with the developing trends in particular markets.
Consequently, Goodman also reaps the benefits of positioning itself for capitalizing on future opportunities, which are reflected in its strong financial results.
Summary & Strategic Takeaways From Goodman Group’s Journey
Goodman’s journey has been a success story curated by long-term strategic planning that has consistently yielded positive results.
Despite only having been in the industry for over three decades, the company has garnered a reputation amongst high-profile corporations that fill up its customer lists and set it apart from the rest.
Goodman Group’s Vision
The company is committed to its vision of creating value for customers and investors alike and is pursuing a focused but innovative business strategy.
It is also in tune with the global shift toward sustainability and has been considerable progress in devising and meeting its sustainability goals. At the same time, it has also underpinned its business activities with consideration for the environmental impact of development.
The company was already a major global player in the industrial property market, but now it is poised to acquire a global leadership position in the industry.
Goodman Group’s Growth By Numbers
Strategic Takeaways From Goodman Group’s Journey
Goodman’s inspiring growth journey holds valuable insights about navigating a successful business. Some of these takeaways are as follows:
1. Place Your Customers At The Heart Of The Business
From its very inception, the company has emphasized the importance of listening to its customers’ needs and adapting its business model accordingly.
Goodman’s comprehensive customer services model ensured that the company’s portfolio reflected the needs and requirements of its customers. Such an approach allowed Goodman to attract high-profile corporations and maintain high occupancy levels across all its businesses.
Moreover, Goodman's focus on its customers' needs also helps it anticipate market trends, such as orchestrating its infill properties strategy and capitalizing on the increased demand for warehouse and logistics facilities.
2. Plan For The Long-Term
Goodman was able to maintain its market competitiveness by planning for the long-term.
It strategically developed its agile culture that enabled the business to readily respond to challenging market situations such as the pandemic induced disruptions. It also helped Goodman adapt to these changes and capitalize on future opportunities.
The company is also focused on pursuing sustainable growth through its involvement with brownfield redevelopment activities and planning for optimal space utilization. Developing such specialization is crucial in the long-term as land available for development is scarce compared to the steadily rising demand, especially in the context of environmental concerns which require the protection of greenfields.
3. Let Your Vision Guide Your Growth
Goodman’s vision of becoming a world leader in industrial property services served as the basis for its business strategies.
Whether it be expanding into strategic regions, acquiring targeted locations, or adopting an agile corporate culture, the company planned all these initiatives in line with its strategic imperatives.
The company’s portfolio also reflected this approach as it perfectly incorporated the anticipated changes in market trends, e.g. the rising demand for infill property and warehouse and logistics facilities.
The company had already oriented its portfolio in such a way that when the anticipated market trends started manifesting, the company was easily able to boost its sales and enhance its already high occupancy levels.
4. Prepare For The Future
Goodman is already gearing up to face anticipated developments in the industrial property market trends.
Its ability to maintain a clear vision for the future is what allows it to retain its competitive edge and occupy a leading position in the global market.
Adapting to the impact of digitalization on the industrial property market is a prime example of how Goodman had already equipped itself for future developments.
Even now, it continues its efforts to reorient its business structure in line with its values while also preparing for further changes in market trends due to digitalization.
In fact, one of the company’s core focus going forward would be to accommodate further digitalization of world economies and to ensure that Goodman is poised to benefit from the.
Over the course of three decades, Goodman Group has established itself not just as a world player but as a leading name in the industrial property global market. The company's commitment to sustainable development, which underpins its corporate objectives, has allowed it to evolve into an innovative business. It continues to provide essential property solutions to its various customers all over the world, and its role proved to be especially crucial during the pandemic. Goodman had provided critical infrastructure to allow for the easy functioning of e-commerce in a context where physical and digital spaces were undergoing a critical shift. The company continues to evolve according to customer needs and generate strong returns for the investors.
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