Gulf investors power Turkey’s rising as regional technology hub
Gulf investors are doubling down on Turkey’s digital future, with UAE-based Khazna planning a major AI hub and 100MW data center in Ankara.
The facility marks the latest in a wave of high-profile investments transforming Turkey into a regional tech powerhouse, Arabian Gulf Business Insight reports.
E-commerce giant Trendyol, meanwhile, has joined forces with Castle Investments, led by Gulf Data Hub founder Tarek Al Ashram, to develop a $500 million data center in Turkey’s capital.
Dubai Islamic Bank and Emirates NBD are fueling the expansion further, committing over $260 million to bolster Turkcell’s infrastructure.
UAE data center firm Khazna sets sights on Saudi Arabian market
Khazna, the Dubai data center company backed by G42 and Microsoft, is preparing to make a major foray into Saudi Arabia.
CEO Hassan Alnaqbi tells Bloomberg that the company projects taking at least 25% of the kingdom’s market share as demand booms for power-hungry AI servers.
He said Khazna has 71% of the UAE’s current data center capacity and is looking beyond its home country with new funding from Abu Dhabi’s MGX fund and U.S. private equity firm Silver Lake.
Alnaqbi told The Circuit in an October 2024 interview that Khazna is investing in solar power and other sustainable energy sources to help fuel its data centers.
