Latest news with #DAMACGroup
Time of India
17-06-2025
- Business
- Time of India
UAE-based DAMAC Group's data centre arm announces $2 billion investment in Indonesia
EDGNEX Data Centers by DAMAC, a global digital infrastructure provider and part of the UAE-based DAMAC Group, has announced plans to invest $2.3 billion in the development of AI-focused data center in Jakarta , Indonesia . Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories
Gulf Business
17-06-2025
- Business
- Gulf Business
EDGNEX by DAMAC to build $2.3bn AI data centre in Jakarta
Image: Getty Images/ For illustrative purposes EDGNEX Data Centers by DAMAC, a global digital infrastructure company backed by Dubai-headquartered DAMAC Group, has announced the development of a next-generation, AI-powered data center in Jakarta, Indonesia – its second facility in the country and one of Southeast Asia's largest AI-dedicated infrastructure projects. The new facility will have a projected capacity of 144 megawatts (MW) and represents a total investment of $2.3bn. Land acquisition was completed in March 2025, and the site has now entered early construction phases. Phase one of the project is expected to be ready for service by December 2026. Designed to support high-density AI workloads, the Jakarta data centre aims to address Indonesia's digital infrastructure gaps, including limited hyperscale readiness and rising latency challenges. EDGNEX projects: Second in Indonesia 'This is our second project in Indonesia, and this development reinforces our commitment to bridging the digital divide in fast-growing markets across Southeast Asia,' said Hussain Sajwani, founder of DAMAC Group. 'We are proud to build what will become one of Southeast Asia's most advanced, sustainable data centers to power the next wave of innovation and digital growth. The scale of AI workloads demands a new class of infrastructure.' The facility will target a power usage effectiveness (PUE) of 1.32, reflecting EDGNEX's commitment to sustainability and energy efficiency. The new development expands EDGNEX's presence across Southeast Asia, including ongoing projects in Thailand and Malaysia. This second Jakarta data centre follows the company's 2024 announcement of its first Indonesian project — a 19.2 MW facility in the MT Haryono area, one of Jakarta's most interconnected data centre clusters. That site is scheduled to go live in Q3 2026, catering to growing demand from cloud service providers, edge computing platforms, and AI solutions. To date, The company's regional target is to reach over 300MW of operational capacity by 2026. Read:
Yahoo
21-04-2025
- Business
- Yahoo
UAE doubles down on crypto despite $5B token crash and regulatory heat
It's inevitable in the world of crypto: increased adoption leads to more risk. Last week, a token issued by a Hong Kong blockchain company backed by Abu Dhabi's Shorooq Partners plunged 90% in just a few hours, wiping out $5 billion in market value. The company had previously signed a $1 billion tokenization deal with Dubai property developer DAMAC Group. Around $250 million worth of the token was sold in the week leading up to the crash — Shorooq denied selling, news site AGBI reported. Just days earlier, Abu Dhabi regulators fined crypto platform Hayvn $12.5 million and banned its CEO for 'unlicensed financial services activity.' No client funds were lost. Still, the UAE remains bullish on the space. MGX — backed by Mubadala and AI firm G42 — recently invested $2 billion in the world's largest crypto exchange Binance. And Abu Dhabi-based DWF Labs disclosed a $25 million purchase of tokens tied to US President Donald Trump's crypto venture, becoming one of its biggest holders. Sign in to access your portfolio
Korea Herald
31-03-2025
- Business
- Korea Herald
EDGNEX Data Centers by DAMAC Confirms Strategic Partnership with Nordic Data Center Developer Hyperco
DUBAI, UAE, April 1, 2025 /PRNewswire/ -- EDGNEX Data Centers by DAMAC, the digital infrastructure platform of the Dubai-headquartered DAMAC Group, has confirmed the acquisition of Finland-founded data center company, Hyperco. Aligned with its vision to deliver next-generation, sustainable digital infrastructure globally, the move underscores the Group's commitment to strengthening its presence in the European market and contributing to the region's evolving data center landscape, creating new jobs and promoting economic development. Hyperco's operations are focused on Finland and Sweden, leveraging the Nordic region's sustainable energy resources, mature digital ecosystems, and high connectivity. All three Hyperco founders, together with the team, will continue to steer the company forward during the next growth phase. Hussain Sajwani, Founder of DAMAC Group said:"This acquisition aligns with our vision to develop strong partnerships, invest, and build scalable, world-class digital infrastructure. Hyperco brings a great team, deep market expertise, and a shared commitment to innovation, which will drive our success in the region. We plan to build a significant future capacity in the Nordics and establish a strong foothold in the market." Aleksi Taipale, Co-founder and CEO of Hyperco adds: "This marks an exciting new chapter for Hyperco. Joining forces with EDGNEX and DAMAC Group empowers us to accelerate our mission of delivering large-scale, sustainable data center infrastructure tailored for hyperscalers and AI-driven workloads. With our established footprint in Finland and Sweden, access to low-carbon energy, and focus on scalability, we are well-positioned to meet the growing digital demands of the region and beyond." Since its launch in 2021, EDGNEX has grown its presence globally. Backed by over 100+ seasoned professionals, the company is on track to deliver 55 MW in the Middle East by 2025, with a projected global capacity exceeding 3,000 MW. EDGNEX is targeting 300+ MW of operational capacity by 2026, supported by a robust investment pipeline of over $3 billion, including key Southeast Asian markets. EDGNEX's recent European activities include a €150 million joint venture in Greece with Public Power Corporation (PPC) to develop up to 25 MW and a €400 million commitment to build a 40 MW data center in Madrid, Spain. Earlier this year, EDGNEX also announced $20 billion of foreign investment in building state-of-the-art data centres in the USA. About EDGNEX
The National
27-03-2025
- General
- The National
DAMAC helps UAE needy during a month-long campaign of Ramadan community initiatives
Holy month distribution drive designed to improve lives of disadvantaged individuals and families This page was produced by The National in partnership with DAMAC Group. DAMAC Group has bolstered its commitment to community welfare this Ramadan by partnering with Emirates Red Crescent to provide 10,000 meals and 5,000 'Kiswat Al Eid' clothing kits. The global conglomerate's Ramadan community initiative is designed to improve the lives of disadvantaged individuals and families during the holy month and is a continuation of an established strategy to support those in need. The distribution campaign took place on March 20 at Fatima Bint Mubarak Ladies Sports Academy, Abu Dhabi, and on March 21 at Hazza bin Zayed Stadium, Al Ain, and was designed to ensure that beneficiaries received essential support in time for their forthcoming Eid celebrations. A UAE-founded group of companies thriving in diverse industries, DAMAC's month-long Ramadan community support initiatives reflect its dedication to giving back. The campaign also reinforces the group's belief in generosity and compassion - values that are deeply embedded in the spirit of Ramadan. Hussain Sajwani, founder of DAMAC Group, said that by working alongside Emirates Red Crescent Society, his organisation continued to play a role in supporting those in need across the nation. 'At DAMAC, we believe in the power of community and the importance of sharing our blessings,' said Mr Sajwani. 'Through our collaboration with the Emirates Red Crescent, we strive to bring relief and joy to families and children, reaffirming our responsibility to uplift and support those in need.' Hamoud Abdullah Al Junaibi, secretary general of Emirates Red Crescent, said the authority appreciated DAMAC's 'generous contributions' and its 'strong commitment to humanitarian efforts'. 'Ramadan is a time of giving and solidarity, and initiatives like these are crucial in ensuring that communities receive the support they need," Mr Al Junaibi said. Beyond this impactful initiative, the Hussain Sajwani - DAMAC Foundation has continued its philanthropic efforts during Ramadan by supporting key charitable organisations. These include Al Noor Training Centre for People of Determination, Tareq Centre for Autism and Rehabilitation, Dubai Club for People of Determination, Rashid Centre for People of Determination, and the Senses Residential and Day Care for Special Needs. In what has proved a very beneficial season for good causes, Ramadan has seen DAMAC Al Khair activated for the second consecutive year. This tangible programme of generosity has seen iftar meals distributed to construction site workers. Operated in partnership with Dubai Charity Association, this admirable effort ensures that those who contribute to the city's growth and ongoing development are included in the spirit of giving during a special time that touches many nationalities. Meal distribution sessions took place at two major locations in Dubai - in Muhaisinah and Bur Dubai - thereby offering essential nourishment to workers during their long fasting hours. This initiative remains hugely relevant to DAMAC Properties, which has been at the forefront of the Middle East's luxury real estate market since 2002 and is a major employer shaping the UAE.
