SHAPE awarded ~$800 million data centre contract by DigiCo
SHAPE Australia Corporation Limited (ASX: SHA) has been awarded a data centre contract valued at ~$800 million by DigiCo Infrastructure REIT (ASX: DGT). The contract covers a 52 MW capacity expansion at DigiCo’s SYD1 data centre campus in Sydney, NSW.
Works are expected to commence immediately. SHAPE is the contractor and DigiCo is the client.
The award represents a significant milestone in SHAPE’s growth and diversification strategy, according to the announcement dated 15 October 2026. It also sits against the company’s existing work in hand, covered in the next section.
Key highlights from the announcement:
- The project was secured on the strength of SHAPE’s successful delivery of the 20 MW Stage 1 upgrade at the same site.
- Scope, design, programme and price were developed through an Early Contractor Involvement (ECI) process.
- The contract is expected to materially contribute to revenue across FY27 and FY28.
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Work in hand rises above $1.4 billion
Financial impact
The contract will be added to SHAPE’s work in hand, which will increase to in excess of $1.4 billion. Revenue is expected to contribute materially over FY27 and FY28.
SHAPE’s FY26 trading update showed data centre revenue growing from under 1% to over 10% of the revenue mix, alongside a forward pipeline of about $4.2 billion.
The announcement does not disclose revenue splits, margins or earnings guidance.
The table below sets out the SYD1 capacity build-up described in the announcement.
| SYD1 capacity component | Capacity |
|---|---|
| Existing capacity | 16 MW |
| Stage 1 upgrade (recently completed by SHAPE) | 20 MW |
| New expansion (this contract) | 52 MW |
| Total SYD1 capacity | 88 MW |
Contract structure
SHAPE has been appointed by DigiCo as head contractor on a fixed price lump sum Design & Construct Contract (“D&C” Contract).
Combined with the ECI process, the structure indicates that scope, design, programme and price were developed before the formal award.
How data centre adaptive reuse works
A data centre is a facility that houses the computing and networking equipment used to store and process digital information. Capacity is measured in megawatts (MW), a unit of electrical power, so a higher MW figure means more power available to run customer equipment.
Adaptive reuse means putting an existing asset to new or expanded use rather than building from scratch. In this case, the project involves the adaptive reuse of an existing data centre asset with approved grid capacity and water access and State Significant Development Approval in place, allowing new capacity to be delivered without a greenfield development.
For investors, those approvals already being in place means the project does not start from the approvals stage. The announcement does not quantify any timeline or cost effect.
Early Contractor Involvement (ECI) is a process in which the contractor works with the client on scope, design and pricing ahead of the formal award. The announcement describes the sector as rapidly growing.
Strategy and CEO commentary
Diversification and repeat delivery
According to the announcement, the award strengthens SHAPE’s capability and market position in the data centre sector. It also further broadens the company’s portfolio across sectors, clients and project types.
That broadening has also come through acquisition, with the completed APS acquisition adding in-house shopfitting manufacturing and design capability to SHAPE’s retail offering.
The repeat-client dynamic is clear: delivery of Stage 1 at SYD1 led to this award at the same site.
SHAPE CEO Peter Marix-Evans said the project complements the company’s established leadership in fitout and refurbishment and its growing capabilities across new build, modular construction and other specialist construction services.
Peter Marix-Evans, CEO, SHAPE
“Securing this contract is a strong endorsement of the quality and reliability we demonstrated through Stage 1 at SYD1…”
Marix-Evans also said:
“Data centres are an important strategic growth sector for SHAPE.”
What to watch
- Works commencing immediately.
- Revenue contribution across FY27 and FY28.
- Work in hand above $1.4 billion.
The announcement does not disclose dates, milestones or completion timelines.
About SHAPE
SHAPE Australia (ASX: SHA) is a national fitout and construction services specialist headquartered in Sydney. It is backed by more than 1,000 professionals and reports a Net Promoter Score of +86.
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