Khazna Data Centres (Khazna) has finalised a $2.62 billion credit facility, one of the largest financing deals in the MENA region, to fuel its expansion across the UAE, wider Middle East, and international markets. The agreement, arranged with Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB), provides a tenor of up to 10 years, reflecting strong financial backing for the company’s growth strategy.
Key Areas of the Deal
- Financing Scale and Structure
The $2.62 billion package stands out as one of the region’s largest data infrastructure facilities. Its long-term financing structure offers stability, giving Khazna the flexibility to commit capital into new builds while also funding global expansion. - Domestic Expansion Priorities
Within the UAE, the deal will fund two new data centres in Abu Dhabi, one in Dubai, and the region’s first AI-powered facility in Ajman. These projects reinforce the UAE’s ambition to become a digital hub for both traditional industries and emerging AI-driven economies. - Global Growth Commitments
Beyond the Middle East, Khazna is scaling internationally. A major initiative includes its joint venture with Eni in Italy, developing a 500-MW data centre campus near Milan, with the capacity to scale up to 1 gigawatt. This international expansion positions Khazna as a regional leader stepping into the global arena. - Technology and Efficiency Focus
The facility also enables investment in modular construction methods. This approach reduces costs, improves energy efficiency, and accelerates delivery timelines, a key differentiator as data demand rises.
Impact on the Middle East
- Strengthening Regional Leadership
Khazna already holds approximately 73% of the UAE’s data centre market share, giving it unrivalled scale in the region. The new credit facility cements its dominance and creates momentum for further consolidation across MENA. - Driving AI and Digital Transformation
With AI adoption accelerating, the Middle East requires robust, high-capacity infrastructure. The planned Ajman AI-enabled facility symbolises how Khazna is aligning its assets with regional priorities, offering the foundation for government digital services, financial technologies, and cloud providers. - Boosting Economic Diversification
As Gulf economies push to diversify away from oil, digital infrastructure plays a central role. Khazna’s projects support national strategies in the UAE and neighbouring countries by creating new revenue streams, attracting foreign investment, and supporting job creation in advanced technology fields. - Regional Data Sovereignty
By expanding local infrastructure, Khazna strengthens the Middle East’s ability to host and process its own data. This reduces reliance on overseas providers, ensuring sensitive information remains within regional jurisdictions while meeting international compliance standards.
Closing Thoughts
The $2.62 billion financing marks a turning point for Khazna and for the Middle East’s digital infrastructure landscape. It enables the company to scale rapidly within the UAE, invest in AI-powered facilities, and push into global markets. More importantly, it supports the region’s long-term ambitions, fueling diversification, securing data sovereignty, and positioning the Middle East as a competitive hub in the global digital economy.
