(Bloomberg) — A subsidiary of Dubai-based Damac Group is investing round $1 billion in a knowledge heart undertaking in Thailand, the newest to affix a worldwide push by expertise corporations to construct cloud and AI infrastructure in Southeast Asia.
Damac’s United Arab Emirates-headquartered Edgnex Data Centers plans to make investments greater than 32 billion baht in three to 4 information heart tasks although a three way partnership with native information heart supplier Proen Company, the businesses stated in an announcement Friday. The primary, to be positioned in downtown Bangkok, will log on by March with an preliminary 5 MW of capability, to be expanded to twenty MW.
The funding follows a plan by Alphabet’s Google to spend $1 billion to construct information facilities in Thailand to fulfill surging demand for synthetic intelligence. That transfer is extensively anticipated to bolster the dominion’s makes an attempt to kickstart a sputtering economic system, which has been suffering from excessive family debt.
Southeast Asia, with its inhabitants of about 685 million individuals, is quick rising as a progress alternative for Microsoft Company, Nvidia Company, and Amazon, that are spending billions of {dollars} on AI infrastructure within the area.
Damac will develop the Bangkok information heart’s capability as the federal government beefs up initiatives to construct a digital economic system, the group’s founder Hussain Sajwani stated in an interview. “Because the demand is cooking up and rising, we can be trying to launch that – it’s a gradual course of,” he stated.
Potential shoppers embody hyperscalers and AI-related companies, in addition to authorities businesses, he stated. Damac has a pipeline of roughly 100 megawatts of future information heart capability.
The corporate additionally plans to put money into high-end residential tasks, Sajwani stated, including that Damac’s foray into Thailand might pave the best way for different Dubai-based corporations to put money into the Southeast Asian nation.
