The move is part of Damac's diversification into sectors such as technology and fashion. Edgnex, which was founded in 2021, already operates two data centers in Riyadh and Dammam. The company has also acquired land for two more data centers in Malaysia and Indonesia, with most set to use Nvidia’s new Blackwell chips. Edgnex is also considering similar facilities in Vietnam and the Philippines, with plans to announce these in 2025.
Key takeaways:
- Damac Group, backed by billionaire developer Hussain Sajwani, plans to invest about $3 billion to build data centers across Southeast Asia, focusing on Malaysia, Indonesia and Thailand.
- The first of three Thai facilities, which will start operating in March in Bangkok, will feature Nvidia Corp. chips.
- The Southeast Asian investment is part of a plan to spend $5 billion to $7 billion on expanding Edgnex operations globally, aiming to build digital infrastructure for storing data and providing artificial intelligence services.
- Edgnex is setting up a joint venture with security startup Siam AI, an official Nvidia cloud partner, and will allocate some of the capacity in the first Bangkok data center to the joint venture company.