Edgnex Data Centers, a subsidiary of Dubai billionaire Hussain Sajwani’s Damac Group, has announced a joint venture with European utility PPC Group to establish and operate a data center in Greece. The partnership involves an initial investment of EUR 150 million ($157.3 million) and will focus on meeting the growing demand for cloud computing services.
The new data center, located in Spata, Greece, will feature an initial capacity of 12.5 megawatts, with plans to expand to 25 megawatts. The joint venture, called Data In Scale (DIS), will see Damac owning a 55% stake, while PPC will hold 45%. Construction of the facility is set to begin in the first quarter of 2025, with the first phase expected to be completed 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,” said Hussain Sajwani, chairman of Damac Group.
Edgnex’s move into the data center industry is part of its broader strategy to diversify its portfolio. In addition to the Greek project, Edgnex has plans for global digital infrastructure investments, including a $1 billion project in Thailand and a EUR 400 million initiative in Spain.
