DAMAC Group, a luxury real estate developer based in the United Arab Emirates (UAE), is set to invest RM250 million in establishing a data centre in Malaysia. The data centre, to be located in Cyberjaya, will primarily cater to retail and enterprise customers.
Minister of Communications and Digital, Fahmi Fadzil, announced that DAMAC Group is currently evaluating Cyberjaya and the Kuala Lumpur Central Business District (CBD KL) as potential locations for the data centre. The proposed size of the land for the project is approximately 1.21 hectares.
In addition to Malaysia, DAMAC Group has secured land in Indonesia and Thailand for similar data centre investments. However, it is focusing on Malaysia for its upcoming investment. The group, which was established in Dubai in 1982, has a global revenue of US$1.66 billion as of 2022.
DAMAC Group specialises in investments in private equities, mergers and acquisitions, and holds major and minority holdings in various industries, including luxury fashion, real estate, hospitality, and manufacturing. The company has significant investments with renowned US-based fund managers such as Vista, Silverlake, Andreessen Horowitz, and Thoma Bravo.
The decision to establish a data centre in Malaysia highlights the country’s growing importance as a regional hub for technology and digital services. Minister Fahmi Fadzil’s visit to the UAE coincides with the Gulf Information Technology Exhibition (Gitex) Global 2023 and Expand North Star (ENS), taking place in Dubai. Gitex Global, attended by thousands of companies from around the world, will provide a platform for Malaysia to showcase its technological capabilities and attract more investments in the digital sector.
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