American private equity firm Aurum Equity Partners has entered into a Memorandum of Understanding (MoU) with the United Arab Emirates (UAE) based technology services provider Al Nowais Group, to jointly invest in an advanced 50MW next-gen data center in the Kingdom of Saudi Arabia (KSA). The Al Nowais group was represented by its KSA-based subsidiary Emirates United Economy in this agreement about the project that will focus on innovation, sustainability, and security.
According to their official statement, “The vision for this data center includes advanced technologies like Edge Computing for real-time data processing, Software-Defined Infrastructure for agility, and AI & Machine Learning to optimize operations.” It further said, “In an era of heightened cybersecurity concerns, the data center will implement top-tier security measures including Quantum Security, advanced firewalls, and encryption technologies. Robust disaster recovery solutions will ensure data integrity and business continuity.”
The project will also use energy-efficient cooling systems and renewable energy, in a bid to reduce its carbon footprint and operational costs.
Mr Venkat Bussa, Founder & CEO of Aurum Equity Partners, said, “We’re excited to collaborate with Al Nowais Group to develop a data center driving digital transformation in Saudi Arabia, supporting sustainable growth and tech advancement.”
Mr. Abdulla Al Nowais, CEO and Chairman of Al Nowais Group expressed similar excitement, stating, “Saudi Arabia is on the brink of becoming a leading digital hub in the region, and we’re honored to build a data center with unmatched security, efficiency, and reliability to meet the growing demands of businesses.”
KSA has an ambitious plan to embrace digital technology as part of its Saudi Vision 2030, where the aim is to engage in economic diversification, increase global engagement and enhance the quality of life of citizens. This plan is therefore key to the growth and development of the cloud and data center industry in the region.
