In a significant move to capitalize on the burgeoning cloud computing market, Dubai-based Edgnex Data Centers, led by billionaire Hussain Sajwani, has announced a joint venture with European utility giant PPC Group. The partnership aims to establish a state-of-the-art data center in Spata, Greece, with an initial investment of EUR 150 million ($157.3 million).
The joint venture, named Data In Scale (DIS), sees Damac Group’s Edgnex holding a 55% stake, while PPC Group owns 45%. The data center is set to be a 12.5-megawatt facility, with plans to expand its capacity to 25 megawatts, reflecting a strategic investment in digital infrastructure by both entities. Construction is slated to begin in the first quarter of 2025, with the initial phase targeted for completion within two years.
“This partnership with PPC reflects our shared vision of creating a world-class data center that caters to the diverse and evolving demands of today’s digital economy,” Sajwani stated, underscoring the strategic importance of the venture.
Edgnex, a subsidiary of the UAE’s Damac Group, has been actively diversifying its investment portfolio beyond real estate. The company is pursuing global expansions in digital infrastructure, including a $1 billion investment in Thailand and a EUR 400 million project in Spain. These moves align with the global trend of increasing demand for data storage and processing capabilities as cloud computing and digital services continue to grow.
According to recent market reports, the global data center market is expected to reach $143 billion by 2027, driven by the rapid adoption of cloud services and increased internet penetration. Industry experts highlight Greece as a promising location due to its strategic geographical position and growing ICT sector, which is expected to contribute significantly to the country’s economy.
The collaboration between Edgnex and PPC not only emphasizes the increasing international interest in Greece’s digital economy but also marks a substantial push for technological advancement and economic growth in the region.
