Khazna Data Centers (Khazna) has secured a US $2.62bn financing facility in a bid to support its growth ambitions in the UAE and in international markets. The financing deal, said to be amongst the largest in the MENA region, was secured in partnership with two UAE banks – Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB).
With a tenor lasting up to 10 years, the financing facility will enable Khazna to progress on the build-out of its operational expansion across the MENA region, said a statement from Khazna.
“Khazna is the foundational layer upon which the emerging AI-enabled economy is built. The criticality of our work is highlighted by the expanding scale, scope, and sophistication required to support complex, resource-intensive AI workloads. This work involves the deployment of vast sums of capital investment, and access to such capital requires a stable, attractive business model, underpinned by the strength of our financial position and our disciplined approach to capital management. This is what we have built at Khazna, enabling us to secure one of the largest financing deals the region has ever seen,” said Fabio Cattaneo, CFO, Khazna Data Centers.
According to Mordor Intelligence, the MENA region’s total data centre capacity is set to double over the next five years. With the capital unlocked through this recent financing deal, Khazna will be at the forefront of regional data centre market growth, preserving its 73% market share in the UAE and growing its share in other markets, the statement confirmed.
Khazna has several projects underway, including two new facilities in Abu Dhabi, one in Dubai, and the region’s first AI-enabled data centre in Ajman. The new financing facility will supercharge Khazna’s ability to expand both at home and abroad. Time to value will be realised quickly, thanks to a modular construction approach that significantly drives down the cost, environmental impact and time required to build a new facility, the firm explained.
Ludovic Nobili, Group Chief Corporate, Wealth, and Investment Banking Officer at ADCB said, “This transaction highlights ADCB’s steadfast contribution to the UAE’s vision of a knowledge-based, future-focused economy. Leveraging our robust balance sheet, extensive financial expertise and dedication to innovation, ADCB is proficient at syndicating and structuring financing for large-scale digital infrastructure projects such as those spearheaded by Khazna. We are proud to support a platform that is laying the digital foundations essential to the UAE’s global competitiveness and sustainable growth.”
Khazna Data Centers secures $2.62bn financing facility to fuel expansion plans Middle East Construction News.
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