DAMAC Properties, the prominent Dubai-based real estate developer, has announced a major investment in data centers across multiple regions, with a significant share allocated to the United States.
DAMAC’s investments in the United States
DAMAC plans to invest at least $20 billion to establish data centers in the United States, with a primary focus on the Midwest and Sun Belt regions. This investment will be carried out through Edgnex Data Centers, a subsidiary of the DAMAC Group. The first phase will focus on states such as Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana.
The company aims to build data centers with a future capacity of up to 2,000 megawatts over the next four years, with the first phase providing approximately 500 megawatts split between the Sun Belt and Midwest regions.
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Ambitious global expansion
Alongside its investments in the United States, DAMAC is expanding globally in the data center sector:
•Southeast Asia: The company intends to invest approximately $3 billion to establish data centers in Malaysia, Indonesia, and Thailand over the next three to five years.
•Middle East and Europe: Edgnex currently operates in 10 countries, including the UAE, Saudi Arabia, Turkey, Greece, Spain, Finland, and Italy, with an expected capacity exceeding 1,000 megawatts.
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Timelines and strategic plans
•By 2026, Edgnex targets operating more than 300 megawatts globally.
•The company is expanding its management team to support growth plans.
•DAMAC is leveraging its real estate expertise to provide supporting infrastructure for cloud computing and artificial intelligence growth.
This major investment marks a strategic shift for DAMAC, as the company expands beyond traditional real estate development into the rapidly growing digital infrastructure sector.
