Saudi Public Investment Fund Backs GCC DigitalBridge Vehicle
Posted on 05/24/2023
DigitalBridge Group, Inc. (NYSE: DBRG) announced that the Public Investment Fund (PIF) is an investor in a new partnership managed by DigitalBridge, aiming to develop data centers in Saudi Arabia and across the Gulf Cooperation Council (GCC). 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 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 in a press release.
The major colocation service providers in the GCC data center market include Ooredoo, Khazna Data Centers, Equinix, Gulf data hub, Zajil Telecom, Moro Hub, Oman Data Park, Mezza, Etisalat, and Saudi Telecom Company (stc).