Qatari managed IT and data center provider Meeza has secured a QAR1.6B ($432M) commodity Murabaha facility from Dukhan Bank to accelerate its data center expansion in Qatar.
The financing will support the continued development of the M-Vault 6, M-Vault 7 and M-Vault 8 facilities. According to the announcement, the projects are expected to add around 44MW to Meeza’s portfolio and help increase its total data center capacity to more than 60MW.
The additional capacity is intended to meet growing demand from hyperscalers, enterprises and government entities for cloud computing, cybersecurity, artificial intelligence and other digital infrastructure services.
The long-term facility was structured under Sharia-compliant Commodity Murabaha principles and builds on an existing financing partnership between Meeza and Dukhan Bank.
Meeza CEO Mohamed Ali Al Ghaithani said the facility would provide the financial strength and flexibility needed to fund the next phase of the company’s expansion plan. Dukhan Bank Acting Group CEO Ahmed Hashem said the financing reflected the bank’s confidence in Meeza’s growth strategy and business model.
Source: MEA Tech Watch
