A premium real estate developer from the United Arab Emirates (UAE), DAMAC Group, intends to build an RM250 million data center in Cyberjaya, Malaysia.
According to Communications and Digital Minister Fahmi Fadzil, the data center would concentrate on serving retail and business clients.
The land’s proposed area is roughly 1.21 hectares. After meeting with Hussain Sajwani, the founder and chairman of DAMAC Group, at the latter’s residence in Dubai, he revealed that DAMAC is currently assessing Cyberjaya and CBD KL as options.
Fahmi stated that DAMAC is concentrating on Malaysia for the impending investment and that the company has also secured land in Thailand and Indonesia for the anticipated data center investment.
The DAMAC Group is focused on private equity investments, mergers, and acquisitions, and it owns major and small stakes in publicly traded businesses in sectors like luxury apparel, real estate, hospitality, and manufacturing.
With renowned US-based fund managers including Vista, Silverlake, Andreessen Horowitz, Thoma Bravo, Starwood, Founders Fund, Warburg, Pincus, and Brookfield, the group has a sizeable stake.
The DAMAC Group was founded in 1982 in Dubai and as of 2022 has global revenues of US$1.66 billion (RM7.8 billion).
North America, Europe, Asia, the Middle East, and Africa are currently included in the DAMAC Group’s global reach.
Fahmi Fadzil is now in the UAE for a four-day official visit in conjunction with the Expand North Star (ENS) conference in Dubai and the Gulf Information Technology Exhibition (GITEX) Global 2023.
More than 6,000 firms from 170 nations will join the 43rd edition of GITEX Global from October 16 to October 20 at the Dubai World Trade Centre, while ENS will take place at the Dubai Harbour from October 15 to October 18.
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