Pranav Hotkar
Abu Dhabi, UAE, September 3, 2025-Khazna Data Centers, a leading hyperscale digital infrastructure provider in the UAE, has announced it has secured a USD 2.62 billion financing facility to support its ambitious expansion plans across the UAE and the broader MENA region.
Structured in partnership with Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB), this deal, with a tenor of up to ten years, ranks among the largest ever financing agreements in the region’s data center sector.
Ludovic Nobili, Group Chief Corporate, Wealth, and Investment Banking Officer at ADCB, said, “This transaction highlights ADCB’s steadfast contribution to the UAE’s vision of a knowledge-based, future-focused economy. Leveraging our robust balance sheet, extensive financial expertise and dedication to innovation, ADCB is proficient at syndicating and structuring financing for large-scale digital infrastructure projects such as those spearheaded by Khazna. We are proud to support a platform that is laying the digital foundations essential to the UAE’s global competitiveness and sustainable growth.”
The facility will fund the construction of new data center campuses, including two in Abu Dhabi, one in Dubai, and the region’s first AI-optimized data center in Ajman, which is expected to be operational by Q3 2025.
These developments aim to meet the rising demand for AI-enabled infrastructure, with the Ajman facility designed to handle high-density AI workloads. Its modular architecture and advanced cooling techniques will ensure scalability and energy efficiency, reinforcing Khazna’s position as a technology-driven leader.
“Khazna is the foundational layer upon which the emerging AI-enabled economy is built. The criticality of our work is highlighted by the expanding scale, scope, and sophistication required to support complex, resource-intensive AI workloads,” said Fabio Cattaneo, CFO, Khazna Data Centers. “This work involves the deployment of vast sums of capital investment, and access to such capital requires a stable, attractive business model, underpinned by the strength of our financial position and our disciplined approach to capital management. This is what we have built at Khazna, enabling us to secure one of the largest financing deals the region has ever seen.”
Khazna currently holds a 73% market share in the UAE’s data center sector and aims to maintain this dominance while expanding into other markets, including Egypt and Saudi Arabia.
In Saudi Arabia, the company plans to capture a quarter of the market, supported by a strategic collaboration with NVIDIA to deliver AI-ready infrastructure. The MENA region’s data center capacity is projected to double over the next five years, highlighting the strategic importance of Khazna’s expansion.
Sustainability is a core focus of these new developments. The Abu Dhabi AUH6 facility will feature a 7MW solar plant developed in collaboration with Emerge, while modular construction techniques across all projects are expected to reduce costs and minimize environmental impact. These measures align with Khazna’s commitment to green, energy-efficient digital infrastructure.
This growth builds on Khazna’s strong foundation, following its 2021 merger with G42 and Etisalat Group (now e&) and the subsequent 2025 sale of e&’s 40% stake to G42, Silver Lake, and MGX for USD 2.2 billion, with G42 retaining majority ownership. As part of the G42 ecosystem, Khazna’s AI focus is further strengthened by access to cutting-edge developments, including the Jais Arabic large language model deployed on Microsoft Azure.
With this financing, Khazna is well-positioned to lead the UAE’s digital transformation, deliver AI-ready infrastructure to hyperscalers and enterprises, and reinforce its role as a cornerstone of the MENA region’s rapidly growing digital economy.
