DUBAI – Damac Group, a luxury real estate developer in the United Arab Emirates (UAE), is planning to establish a data centre in Malaysia with an investment value of RM250 million at Cyberjaya.
Communications and Digital Minister Fahmi Fadzil said the data centre will be focusing on retail and enterprise customers.
“The proposed size of the land is approximately 1.21ha. Currently, Damac is evaluating Cyberjaya and CBD KL as the options,” he said after meeting Damac Group founder and chairman Hussain Sajwani at his residency in Dubai.
Fahmi said Damac has also secured land in Indonesia and Thailand for the proposed data centre investment and is focusing on Malaysia for the upcoming investment.
The Damac Group focuses on investments in private equities, mergers and acquisitions and holds major and minority holdings in public listed companies and industries like luxury fashion, real estate, hospitality and manufacturing.
The group has substantial investments with top United States-based fund managers such as Vista, Silverlake, Andreessen Horowitz, Thoma Bravo, Starwood, Founders Fund, Warburg, Pincus and Brookfield.
The group was established in 1982 at Dubai with a global revenue of US$1.66 billion (approximately RM7.87 billion) as at 2022.
Today, Damac Group’s global footprint extends across North America, Europe, Asia, the Middle East and Africa.
Currently, Fahmi Fadzil is on an official four-day visit to the United Arab Emirates (UAE) in conjunction with the Gulf Information Technology Exhibition (Gitex) Global 2023 and Expand North Star (ENS) in Dubai.
The 43rd edition of GITEX Global will be attended by more than 6,000 companies from 170 countries from October 16 to 20 at the Dubai World Trade Centre, while ENS will be held from October 15 to 18 at the Dubai Harbour. – October 18, 2023