Ooredoo Group, an international communications company operating across the Middle East, North Africa, and Southeast Asia, has announced a landmark QAR 2 billion (~US$ 500 million) financing deal to accelerate the growth of its data centre and AI business. The financing deal has been signed with QNB, Doha Bank, and Masraf Al Rayan.
In a press release, Ooredoo said that the funds will be strategically allocated to carve out existing data center assets from its telecom operations, with a significant portion directed toward expanding capacity and upgrading infrastructure to support the growing demand for AI, Coud services, and hyperconnectivity in the MENA region.
Aziz Aluthman Fakhroo, Group CEO, Ooredoo, said, “The MENA region is one of the fastest growing markets for data centers worldwide, and there is significant untapped potential in AI, Cloud services and accelerated computing. This financing deal marks a major milestone in our strategic vision for expanding our data center and AI business, and we are excited to meet the region’s increasing demand while upholding our commitment to sustainable, energy-efficient infrastructure.”
Abdulla Mubarak Al-Khalifa, QNB Group CEO, said, “We expect the data centre market to grow significantly over the coming years, and by supporting Ooredoo, we are investing in the future of AI and Cloud services. This collaboration also strengthens Qatar’s leadership in technological innovation. We look forward to working closely with Ooredoo Group as this market evolves.”
Meanwhile, Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group CEO, Doha Bank, said, “The growth of Ooredoo’s data centres will have a transformative impact on the tech sector, enhancing regional competitiveness and positioning the country as a leader in the digital economy. We are proud to play a role in enabling this important step towards achieving comprehensive development in Qatar and the region.”
Fahad Al Khalifa, Group CEO, Masraf Al Rayan, said, “By partnering with Ooredoo, we are investing in the future of digital infrastructure and supporting sustainable growth through innovation and economic diversification. We are proud to be at the forefront of this significant initiative, which will undoubtedly cement Qatar’s position as a leader in the digital economy.”
As part of its strategic growth, Ooredoo plans to expand its capacity to over 120 megawatts through a US$ 1 billion investment in the medium to long term. This expansion will position Ooredoo to better serve the increasing demand for localised Cloud services and IT workloads, particularly from hyperscalers.
At present, Ooredoo has 26 active data centers across Qatar, Kuwait, Oman, Iraq, and Tunisia. It leverages its strong partnerships with hyperscalers, to offer cloud-based solutions including Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS).
