:

GOODMAN SCRAPS SYDNEY DATA CENTER AFTER BACKLASH

INDUSTRY DESK■ 1 MIN READ
TUE, SEP 29, 2026

■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE

Goodman Group has withdrawn its application to build a 24-hour data center on Sydney's north shore following community opposition. The decision marks a setback for the Australian industrial property developer's expansion plans.

The industrial property giant cited community concerns in its decision to pull the project. Local residents and groups had raised objections to the proposed facility, which would have operated around the clock. Goodman Group is one of Australia's largest developers of industrial and logistics properties. Data centers have become increasingly sought-after assets as demand for cloud computing and digital storage accelerates globally. The withdrawal reflects growing community resistance to major infrastructure projects in populated areas. Similar disputes have emerged in other Australian cities as residents voice concerns about noise, traffic, and environmental impacts from large facilities. No timeline has been provided for whether Goodman will pursue alternative sites or redesign the proposal. The company has not issued additional comments on the decision.

■ SOURCES

► Bloomberg Tech

■ SUMMARY WRITTEN BY AI FROM THE LINKS ABOVE

■ MORE FROM THE BUSINESS DESK

The global AI sector must generate $6 trillion in annual revenue by 2031 to justify massive data center investments, according to consulting firm Bain & Co. The threshold highlights mounting pressure on AI companies to deliver tangible returns on infrastructure spending.

JUST NOW— AI Desk

Ruchir Sharma, chairman at Rockefeller International, warned that rising Treasury yields pose a significant threat to the AI sector. The 10-year yield has climbed above the 5% threshold Sharma identified as a potential danger zone for AI valuations.

3H AGO— AI Desk

Atlassian cofounder and CEO Mike Cannon-Brookes discussed the software-as-a-service sector's stability amid earlier industry concerns. The company's platform tools like Jira and Trello power operations across enterprises globally.

4H AGO— Industry Desk

SoftBank Group Corp. closed a record $11.1 billion junk bond deal, underscoring founder Masayoshi Son's aggressive financing strategy to fund the conglomerate's AI ambitions.

10H AGO— AI Desk

■ SUBSCRIBE TO THE DAILY BRIEF

ONE EMAIL, 5 STORIES, 06:00 UTC. UNSUBSCRIBE ANYTIME.