Ooredoo Group, an international communications company operating across the MENA region and southeast Asia, has secured a financing deal in a bid to accelerate the growth of its data centre and AI business
Worth QAR2bn (approx. US$550mn), the financing deal has been signed with QNB, Doha Bank and Masraf Al Rayan and represents the largest transaction ever achieved in Qatar’s tech sector.
Aziz Aluthman Fakhroo, group CEO, Ooredoo, remarked, “The MENA region is one of the fastest growing markets for data centres worldwide, and there is significant untapped potential in AI, Cloud services and accelerated computing. This financing deal marks a major milestone in our strategic vision for expanding our data centre and AI business, and we are excited to meet the region’s increasing demand while upholding our commitment to sustainable, energy-efficient infrastructure.”
The newly available funds will be allocated to carve out existing data centre assets from Ooredoo’s telecom operations, with a significant portion being directed towards expanding capacity and upgrading infrastructure to support AI, cloud services and hyperconnectivity.
Fahad Al Khalifa, group CEO, Masraf Al Rayan, commented, "We are excited to be part of this major financing deal, which will contribute to driving technological progress in Qatar and the region. By partnering with Ooredoo, we are investing in the future of digital infrastructure and supporting sustainable growth through innovation and economic diversification. We are proud to be at the forefront of this significant initiative, which will undoubtedly cement Qatar’s position as a leader in the digital economy."
Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, group CEO, Doha Bank, added, “We are dedicated to support Ooredoo in its ambitious expansion of digital infrastructure through this financing deal. The growth of Ooredoo’s data centres will have a transformative impact on the tech sector, enhancing regional competitiveness and positioning the country as a leader in the digital economy. We are proud to play a role in enabling this important step towards achieving comprehensive development in Qatar and the region.”
Landmark financing deal to drive Ooredoo data centre and AI expansion
The funds will be used to consolidate and expand capacity and infrastructure of data centre assets across Ooredoo’s MENA operations. (Image source: Ooredoo)
