Saudi’s PIF, DigitalBridge To Develop Data Centres In GCC Countries
The US-based DigitalBridge Group, a global asset manager dedicated to investing in the next generation of mobile and internet connectivity, has announced said that Saudi Arabia’s Public Investment Fund has joined as an investor in its new venture aimed at developing data centres in Saudi Arabia and other Gulf Cooperation Council (GCC) countries.
The partnership will initially prioritize investments in the data center sector, and is expected to explore other segments of digital infrastructure in the future, including macro towers, fiber, small cell, and edge infrastructure. Partnering with DigitalBridge will support the enhancement of digital infrastructure in Saudi Arabia to the highest global standards, in line with PIF’s strategy.
The investment aims to localize cutting-edge technologies and support knowledge transfer to develop and operate hyperscale data centers and database servers in Saudi Arabia and the GCC region, in accordance with the best practices in this vital sector which will help large local and international corporations to carry out their business in the region with greater efficiency.
“As a global leader in digital infrastructure, we are pleased to partner with PIF to further enable the digital infrastructure buildout in Saudi Arabia and across the GCC countries. We see significant opportunity for continued growth in the sectors in which we specialize and look forward to leveraging our capabilities and expertise to capitalize on the long-term opportunities across this important region,” said Marc Ganzi, Chief Executive Officer, DigitalBridge.