The Dubai-based EDGNEX Data Centers has announced its plans to invest over 32 billion Baht (1 billion USD) in a series of data center projects to meet the rising demands of advanced AI technology and data processing capabilities.
EDGNEX announced a JV with PROEN Corp Public Company Limited, a prominent listed player in the Thailand technology landscape. This strategic investment marks a major expansion of the company’s footprint in Thailand and aligns with its commitment to supporting digital transformation in the Southeast Asia (SEA) region. EDGNEX will have a 70% stake in the JV and be responsible for data center operations.
This investment will significantly enhance Thailand’s data processing capabilities, aligning with the growing trends in the digital industry and attracting investors from around the world. Furthermore, it will create valuable opportunities for Thai professionals seeking to advance in the digital business sector.
“We are excited to expand our investment further into SEA and specifically into Thailand, a country that has shown immense potential for growth in digital innovation and smart technologies,” said Hussain Sajwani, Founder of DAMAC Group. “We aim to support Thailand’s growing digital economy and provide the necessary infrastructure for the next generation of AI-driven businesses. With this announcement, we substantially commit to the Thailand market, outlining a pipeline of approximately 100 MW of future data center capacity.”
Kittipan Sri-bua-iam, CEO of PROEN Corp Public Company Limited, said: “We are very excited about this partnership with EDGNEX Data Centers by DAMAC which is increasingly becoming a key player in the data center business with a solid footprint across SEA. This announcement underscores the importance of investments in the sector to meet Thailand’s increasing demand for digital infrastructure. We look forward to bringing excellence and innovation to the market.”
The joint venture will include a state-of-the-art data center project with a total potential capacity of 20 MW. The first phase, comprising 5 MW of capacity, is already scheduled to be operational in early 2025. This data center will be a carrier-neutral facility with Tier III uptime certification, providing world-class reliability and resilience for its clients. The joint venture is targeted to finalize and commence its business by this year.
The Asia-Pacific data center market is also projected to experience significant growth. The market size is estimated at 14.27 thousand MW in 2024 and is expected to reach 23.2 thousand MW by 2029, growing at a CAGR of 10.21%.
