Dubai’s Damac pours $3 billion into Southeast Asia data centers
Damac, which focuses primarily on Dubai real estate, has been diversifying into a variety of industries from tech to fashion
Damac Chairman Hussain Sajwani
Dubai developer Hussain Sajwani sees AI gold in Southeast Asia.
The Emirati billionaire’s Damac Group plans to invest about $3 billion through its Edgenex subsidiary to build data centers across Malaysia, Indonesia and Thailand over the next three to five years, Bloomberg reports.
Damac, which focuses primarily on Dubai real estate, has been diversifying into a variety of industries from tech to fashion.
Edgenex, which already operates two data centers in Saudi Arabia, plans to build the digital infrastructure in its new Asian facilities that can house the high-end servers essential for providing artificial intelligence services.