Meeza, a provider of data center, Cloud and managed services in the Middle East and North Africa (MENA), has signed a Memorandum of Understanding (MoU) with the Qatar Financial Center (QFC) Authority to enable businesses under the latter’s umbrella to take the next step in their digital transformation journey.
QFC is a business and financial hub located in Doha, the capital of Qatar. According to a press release, QFC will introduce firms registered on its platform to the wide variety of services offered by Meeza at special and competitive rates. These services include data centre services, cloud services, managed IT services, cyber security services, IT solutions, IT security services and more.
“Financial services, along with fintech, are among our key focus areas. This strategic partnership with Meeza will enhance our clients’ IT capabilities by providing them access to first-rate digital solutions and highly resilient and reliable data centres that Meeza provides to various business sectors. This collaboration will contribute to Qatar’s efforts in digital transformation, cyber security, and data protection domains,” said Yousuf Mohamed al-Jaida (CEO, QFC Authority).
Mohsin Nasser al-Marri, (Acting CEO, Meeza) said the tie-up marks a significant milestone in advancing Qatar’s digital landscape. “By joining forces with QFC, we aim to provide unparalleled IT solutions to businesses registered on the QFC platform, further accelerating their digital transformation journey,” he said, adding this partnership underscores its commitment to fostering innovation, knowledge exchange, and the growth of Qatar’s technology ecosystem.
Qatar’s Data Center Market
The Qatar government has ambitious digital transformation plans for the Gulf nation that has been steadily attracting foreign investors and businesses for decades. As part of Qatar’s National Vision 2030, the government is going all out in ensuring that adequate digital infrastructure is made available to keep up with the burgeoning demand for data storage and cloud computing services, especially in light of the growth of emerging technologies like Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT).
Arizton Advisory & Intelligence estimated that Qatar’s data center market was worth US$ 264 Million in 2022 and expects it to reach US$ 418.5 Million by 2028, growing at a Compounded Average Growth Rate (CAGR) of 7.98 per cent. It says, “The demand for cloud computing and big data, among other IT services, is expected to drive growth in the Qatar data center market in the coming years.” It also sees potential for growth of Edge data centers and says, “The installation of edge data centers in Qatar is expected to increase due to the increasing demand for quick and low-latency data processing. Edge facilities are necessary for processing data from IoT devices and other connected technologies that are becoming more common in Qatar.”
Meeza, Ooredoo and Quantum Switch Tamasuk (QST) are three of the biggest players in the data center market in Qatar. In May 2023, Google announced the launch of a new Doha Cloud Region. Research commissioned by Google Cloud and conducted by Access Partnership revealed that the Doha Cloud Region was estimated to contribute a cumulative 18.9 billion USD in higher gross economic output to the economy of Qatar between 2023 and 2030, and support the creation of 25,000 jobs by 2030 alone.