Gitex 2024: Damac Group plans $1b investments on data centers in Thailand
Dubai group expands its data center operations into key Southeast Asian market
Dubai: The Dubai-based Damac Group’s data center ambitions is taking it to Thailand.
Its entity, Edgnex Data Centers, is committing $1 billion on multiple data center projects in Thailand, which will be overseen via a joint venture with Proen Corp. Edgnex will have 70% in the joint venture and will also manage the data center operations.
The data center project will add up to a total potential capacity of 20MW. The first phase, comprising 5 MW of capacity, is to be operational in early 2025. This data center will be a ‘carrier-neutral facility’ with a Tier III uptime certification. (Further details of the joint venture are to be finalizes before the end of this year.)
“We are excited to expand our investment further into Southeast Asia and specifically into Thailand, a country that has shown immense potential for growth in digital innovation and smart technologies,” said Hussain Sajwani, founder of Damac Group.
“We aim to support Thailand’s growing digital economy and provide the necessary infrastructure for the next generation of AI-driven businesses.
“With this announcement, we substantially commit to the Thailand market, outlining a pipeline of approximately 100MW of future data center capacity.”
The data center market in the Asia-Pacific region is estimated at 14,270MW in 2024 and 23,200 MW by 2029.
It was two years ago that Damac announced its interest in creating data centers, pointing to the insatiable demand for offsite data management. Initial investments in the Gulf, but the group had announced that it would seek markets outside of the region as well.