Alfanar Global Development, a Saudi Arabia based project developer, engineering construction and technology solutions provider, has announced that it will invest a whopping US$1.4 billion to develop four data centers across Riyadh and Dammam.
In a press release the company said that these facilities will aim to support cloud computing, AI-driven solutions, and data security, catering to both government and enterprise needs across a wide range of industries, including finance, healthcare, e-commerce, and AI-driven enterprises, by offering high-performance digital solutions on an international scale.
The announcement was made during LEAP 2025 in the presence of His Excellency Eng. Abdullah Al Swaha, Minister of Communications and Information Technology.
“Alfanar Global Development is leaping into the future with this project, and we are proud of our continuous contribution to Vision 2030 in a transformative way,” said Amer Al Ajmi, Executive Vice President, adding, “By creating a secure and scalable digital infrastructure, we are not only advancing the Kingdom’s digital economy but also attracting global businesses, putting Saudi Arabia on the map as a leader in data storage and technology-driven innovation.”
The company further said that the data centers will prioritize efficiency and sustainability, thus also contributing to the Kingdom’s green energy and environmental goals.
According to research by IMARC Group, the Saudi Arabian data center market size reached US$ 2.1 billion in 2024, and is expected to reach US$ 7.7 billion by 2033, exhibiting a Compounded Average Growth Rate (CAGR) of 15.6 percent during 2025-2033. The rising amount of digital information, coupled with the escalating need for cloud computing network services, is primarily driving the market growth. Moreover, the government has also played a key role in accelerating this growth by way of important policy decisions and technology driven initiatives such as Vision 2030 and Cloud First Policy.
