UAE-based Khazna Data Centres (Khazna) has secured a $2.62 billion credit facility from a consortium of local banks to support its ambitious UAE and global growth strategy. The 10-year facility was arranged by Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB).
By the Numbers
The new financing will fuel a massive expansion of Khazna’s data center capacity:
- $2.62 Billion: The value of the new 10-year credit facility.
- 73% Market Share: Khazna’s current market share in the UAE.
- 1 Gigawatt: The company’s target capacity for its international data center projects.
- 5 Years: The timeframe in which the MENA region’s total data center capacity is set to double.
Fueling a MENA-Wide Expansion
The new funds will support Khazna in expanding its build-out and operational footprint across the Middle East and North Africa (MENA) region, where total data center capacity is projected to double over the next five years. Khazna, which already holds a dominant 73% market share in the UAE, is seeking to expand its presence in other markets. The company has several projects already underway, including two new facilities in Abu Dhabi, one in Dubai, and an artificial intelligence (AI)-enabled data center in Ajman.
A Global Ambition with a Focus on AI
The company has ambitious plans to reach 1 gigawatt (GW) of capacity with data center projects in France, Italy, Saudi Arabia, Egypt, Turkey, and Kenya. This expansion is supported by a strategic collaboration announced in July with US-based chipmaker NVIDIA to develop large-scale data centers ready for AI workloads in the Middle East and Africa region.
Source: Zawya
