Damac Group, backed by billionaire Hussain Sajwani, plans to invest $3 billion to build data centers across Southeast Asia, including the Philippines, making the region a hub for artificial intelligence (AI) and cloud services.
Edgnex Data Centers, part of the Dubai-based conglomerate, plans to invest in Malaysia, Indonesia, and Thailand over the next three to five years. The first of three facilities in Thailand will open in March in Bangkok and will include NVIDIA chips.
Danish Nayar, Senior Vice President of Investments and Acquisitions, told Bloomberg that the Southeast Asian investment is part of a plan to spend between US$5 billion and US$7 billion on expanding Edgnex’s operations globally.
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Nayar added that the company has already acquired land for two additional data centers each in Malaysia and Indonesia. Most of them will employ Nvidia’s new Blackwell chips. Edgnex is also exploring similar facilities in Vietnam and the Philippines, aiming to announce those plans in 2025.
“Today we have over 550 megawatts of projected capacity towards Southeast Asia, which effectively means that this could be a $5 billion market for us, and we are on our way to increase further,” Nayar explained.