Khazna sets up shop in Saudi: Dubai-based Khazna has acquired 225k sqm of land in Dammam to develop up to 200 MW of AI-ready data center capacity, according to a statement. The company has been looking to capture at least 25% of Saudi’s data center market, and had previously scouted several pieces of land where it sees a lack of capacity that would accommodate US hyperscalers.

Khazna also appointed a new country head for its Saudi division, Mohammed bin Hassan (LinkedIn), according to a statement. Bin Hassan brings to the position over two decades of experience in digital transformation and national tech strategies across the Kingdom, with his most recent stint being as PIF’s chief digital officer, according to a statement.

REMEMBER- The firm had picked two sites for expansion where it thinks local Saudi firms don’t have the capacity required by the increasing number of US hyperscalers — large cloud service and data center providers — that are looking to the Gulf’s cheap energy and real estate for expansion.

There’s more to come: Khazna Data Centers announced plans last year to expand further into the Middle East and Asia. It is closing in on the location for a USD 250 mn data center in Egypt (set for completion in 2026), with Turkey and Southeast Asia also on its radar.

DATA POINT- Khazna controls about 71% of the UAE’s existing data center capacity, and, in addition to European expansion plans, its 12 data centers under construction include sites in Turkey and Kenya.

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