DAMAC will take up to a 45% stake in Dataplex "over time" and has already acquired a land parcel with its parent company Chirisa in Abbotstown, Dublin, where Dataplex will develop a 70 MW+ data centre and industrial campus.
Last year, Chirisa sold 365 Data Centres to Stonecourt Capital LP, but still owns Digital Fortress, Viatel, Clyde Real Estate, DataPlex and Digiweb.
“DAMAC Group has a unique vision for the data centre market, and we look forward to helping it to bring its disruptive model to more cities around the world. Together with DAMAC Group, we can deliver digital infrastructure in underserved markets and support the growth of local digital economies,” said Eddie Kilbane, co-founder and CEO of Dataplex Group.
“Our partnership will enable our organisations to grow together, and it will be great to work with the team at DAMAC Group.”
As the private investment arm of Dubai-based businessman Hussain Sajwani, DAMAC Group has interests in luxury and hospitality developments, fashion and retail. This year it acquired fashion house, Roberto Cavalli, the 50-storey development DAMAC Towers Nine Elms in London, a luxury resort in the Maldives and shopping malls in Iraq, among others. The investment company said it plans to deploy approximately $3 billion over the next few years in "key markets across Western Europe and the US".
It has stepped into the data centre space through its new venture, Edgnex, a global digital infrastructure provider.
The press announcement said that over the coming months Edgnex will be "announcing acquisitions, building projects and partnerships focused on developing local data centre facilities in emerging or underserved markets globally".
Sajwani said: "DAMAC Group, through its global digital infrastructure company Edgnex, is developing data centre facilities to support the growth of digital economies across the globe. Our work with Dataplex enables us to serve exponential demand coming from local markets, driven by rapid digital transformation, booming digital economies, and growing internet users.
"We have a track record of recognising opportunities, making significant investments and capturing a first mover advantage. We are driven by market dynamics, not just by who needs capacity now. Where we go, others follow"
