Damac Group to Establish Data Centers in Malaysia, Indonesia, and Thailand Within 3-5 Years

Forex - Supported by billionaire contractor Hussain Sajwani, Damac Group aims to establish data centers in Southeast Asia as the region becomes a hub for artificial intelligence and cloud services. Danish Nayar, senior vice president responsible for investments and acquisitions, stated that Edgnex Data Centers, a unit of the Dubai-based holding, plans to invest capital in Malaysia, Indonesia, and Thailand over the next three to five years.

The first of three facilities in Thailand, set to open in Bangkok in March, will utilize Nvidia Corp. chips. The private Damac, primarily focused on the real estate sector in Dubai, is also shifting its focus towards industries such as technology and fashion. According to Nayar, spending in Southeast Asia is part of a plan to invest $5 to $7 billion globally to expand Edgnex operations. The company aims to establish digital infrastructure capable of housing the high-end servers necessary for data storage and artificial intelligence services. Nayar mentioned that Edgnex, which was established in 2021, currently operates two data centers in Riyadh and Dammam.