G42-owned Khazna Data Centers secured a USD 2.62 bn financing facility from Abu Dhabi Commercial Bank and First Abu Dhabi Bank, according to a statement. The 10-year facility will fund the company’s expansion in the UAE and internationally, including new sites in Abu Dhabi, Dubai, and the country’s first AI-enabled data center in Ajman.

The company aims to cement its domestic lead — with a 73% share of the UAE data center market — 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, and is partnering with international heavyweights including Nvidia to build data centers in the region.

REMEMBER- G42 acquired 40% of Khazna Data Centers from e& earlier this year, marking the region’s largest domestic acquisition in 1H 2025.

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