G42-owned Khazna Data Centers secured a USD 2.6 bn financing facility from ADCB and FAB, according to a statement. The 10-year package will fund the company’s expansions, including new sites in Abu Dhabi, Dubai, and the country’s first AI-enabled data center in Ajman.

Khazna controls about a 73% share of the UAE market, and the company is aiming to use funding to cement its domestic lead while pushing into new regional markets, the statement said.

Khazna has been keeping busy: The Dubai-based company signed a head of terms agreement with Italian energy firm Eni in July to establish a JV to develop data centers in Italy, with the goal of establishing up to 1 GW of IT capacity in Italy. The firm is also making moves into Turkey, Saudi Arabia, and Egypt, while also partnering with international heavyweights including Nvidia to build data centers in the region.

REMEMBER- G42's USD 2.2 bn acquisition of 40% of Khazna Data Center from e& was the region’s largest domestic acquisition in 1H 2025.

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