UAE’s EDGNEX to Invest $1 Billion in Data Center Projects in Thailand

UAE’s DAMAC EDGNEX and PROEN to Invest $1 Billion in Thailand Data Center Projects

Dubai-based global digital infrastructure company DAMAC’s EDGNEX Data Centers has announced a joint venture with Thailand’s leading technology provider PROEN Crop Plc to invest US$1 billion (32 billion baht) in several data center projects in the Kingdom.

With a 70% stake in the joint venture, EDGNEX will lead data services to meet the growing needs in AI technology and data processing in the Southeast Asian region, DAMAC founder Hussain Sajwani said during a press event this week.

Expanding DAMAC’s investment in Southeast Asia is an exciting opportunity as Thailand has significant potential in innovation, digital and smart technology. The company, a global leader in property development and data centers, is committed to promoting the growing digital economy in the Kingdom, he said.

Speaking at the press event, Deputy Prime Minister and Minister of Digital Economy and Society Prasert Jantararuangtong expressed his hope that this joint venture will be a great starting point for the sustainable development of Thailand’s digital sector.

He hoped the investment would improve the country’s data processing capabilities, support the growth of digital businesses and attract investors from around the world.

“Thailand is fully entering the digital age, and the government is placing great emphasis on developing digital infrastructure,” he said. “We have established policies to promote the growth of the digital sector in all areas, from building infrastructure to developing human resources and supporting digital businesses.”

Kittipan Sri-bua-iam, CEO of PROEN Crop, stated that the collaborative investment highlights the significance of enhancing digital infrastructure to address the increasing demands in Southeast Asia, with the objective of delivering excellence and innovation to regional markets.

Investment projects under this joint venture include building data centers with a total capacity of 20 MW, with the first phase of a 5 MW carrier-neutral facility operational by early 2025.

Demand for data center services in the Asia-Pacific region is estimated to grow from 14,270MW in 2024 to 23,200MW in 2029, or at an average annual rate of 10.21%.