The financing ranks among the largest deals for Mena data centre infrastructure
Abu Dhabi-based Khazna Data Centres has secured a $2.62bn financing facility with Abu Dhabi Commercial Bank and First Abu Dhabi Bank to fund its ongoing UAE and regional data centre projects.
The tenor of the facility is up to 10 years.
The financing will support the development of two new data centres in Abu Dhabi, one in Dubai and the region’s first artificial intelligence (AI)-enabled data centre in Ajman.
Khazna currently operates facilities representing a 73% share of the UAE data centre market.
The expansion of hyperscale and AI-enabled data centres has direct implications for the power sector, as these facilities require substantial electricity supply and advanced cooling infrastructure.
Analysts say this trend may drive new power generation projects, grid upgrades and investment in energy-efficient technologies, while creating opportunities for renewable-backed or low-carbon power solutions.
According to Mordor Intelligence, the Middle East and North Africa’s total data centre capacity is expected to double over the next five years. Khazna plans to accelerate delivery using modular construction, a method that reduces costs, environmental impact and construction time.
In April, Khazna confirmed it had broken ground on two new data centre facilities – AUH4 in Mafraq and AUH8 in Masdar City, both in Abu Dhabi.
The two facilities will provide a combined 60MW of capacity and are due for completion in December 2026 and August 2026, respectively.
Construction works on the AI-enabled 100MW QAJ1 data centre in Ajman continue to progress, with the facility’s initial project phase due to be completed in December 2026.
The planned Tier 3 data centre project will cover an area of 100,000 square metres and will include 20 data halls, each with a capacity of 5MW.
Khazna Data Centres is also undertaking the construction of a data centre in Dubai Production City, as part of an expansion plan to have a total of 200MW.
The $408m project is in the bid evaluation stage, with the main contract yet to be awarded.
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