DAMAC exploring $1bn worth of investment opportunities in Germany
Dubai-based DAMAC Group says it is exploring data centre investment opportunities in Germany with an estimated spend of up to €1 billion.
The company says this investment will revolve around data centre and technology, areas of interest to Hussain Sajwani, chairman of the DAMAC Group.
“It's a very interesting time now in Germany, especially for future-oriented industries and the country has a lot of opportunities in sectors such as data centres,” he said.
“I see a lot of opportunity and potential, especially in Eastern Germany that I would like to explore and learn more.”
In 2021, DAMAC entered the data centre space with the launch of its global infrastructure provider Edgnex. The following year the company announced it would facilitate cryptocurrency payments and would also establish D-Labs, a company that would build digital cities in the metaverse.
DAMAC’s portfolio consists of capital markets, data centre, hospitality and retail. The company adds it is looking to expand its footprint in Europe, having entered a joint venture in Denmark to build single family residential developments across Scandinavian countries.
“DAMAC has been a respected and recognisable name in the Middle East for quite some time, but in the past few years we have been making waves globally, with projects in Europe, Canada and the United States,” Sajwani added.
“More and more, we are demonstrating our various strengths in the global market.
“We are keen on diversifying our portfolio, especially when it comes to futuristic endeavours, so that we stay ahead of the curve.”