Marking a transformative phase in its international expansion, Dubai-headquartered global digital infrastructure company EDGNEX Data Centers by DAMAC, which is fully owned by global group DAMAC has announced its strategic entry in the US data center market with an initial investment of $20 billion.
Announcing the investment alongside the US President-elect Donald Trump, Emirati billionaire and DAMAC Founder Hussain Sajwani said that this was an extremely exciting moment for his company as its foray into the US market in data centers represents a significant milestone in their journey to build a global digital infrastructure platform that will empower businesses today and in the future. “Leveraging our expertise in real estate and data centers, we aim to deliver best-in-class infrastructure that supports the next wave of cloud and AI growth, helping further to position the U.S. in the technology and global data ecosystem,” he said.
The announced US expansion will deliver state-of-the-art data centers targeting a 2 GW capacity over the next four years. The company has potential plans of doubling the initial investment on the basis of future demand, market opportunity and scalability.
This endeavour is aligned with EDGNEX’s commitment to building world-class digital infrastructure platforms targeting hyper-scalers, AI players, and Fortune 500 companies alike, fostering innovation and delivering sustainable, high-quality infrastructure that powers customers in the US and around the globe.
EDGNEX expansion plan will focus on sunbelt states specifically Texas, Arizona, Oklahoma, and Louisiana and mid-west states such as Ohio, Illinois, Michigan, and Indiana.
500 MW in First Phase
The first phase includes capacity build-up through joint ventures with partners, acquiring land banks in conjunction with utilities, and acquiring existing data centers and platforms. It will represent approximately 500 MW capacity—one in the Sunbelt and one in the Midwest to meet the growing current demand as EDGNEX continues to scale.
Besides its latest foray into data centers, DAMAC as a Group is significantly invested in the US in real estate and through several private equity funds. In Miami, DAMAC is planning a boutique condo project designed by Zaha Hadid Architects with a $1 billion GDV development value.
DAMAC continues to look for strategic real estate opportunities in the US Building a Global Platform Exponentially DAMAC’s success in real estate in the Middle East and globally has provided the foundation for ventures into high-capex, high-yield asset classes like data centers.
Enterprises of all sizes adopting cloud and AI technologies present a significant 15-year growth opportunity that reinforces DAMAC’s commitment to seizing opportunities and establishing a robust global platform that serves international markets.
Progress and Timeline
EDGNEX’s existing portfolio includes operations in 10 countries such as the UAE, Saudi Arabia, Turkey, Thailand, Malaysia, Indonesia, Greece, Spain, Finland and Italy) with a projected capacity exceeding 1 GW.
Current operational data centers include over 10 MW in Saudi Arabia and 5 MW in Thailand, which will be operational by Q1 2025. By 2026, EDGNEX aims to have over 300 MW operational globally.
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