Ooredoo Group announced a landmark QAR 2 billion financing deal to accelerate the growth of its data centre and AI business, enabling a significant expansion of capacity and the modernisation of its data centres.
The financing deal has been signed with QNB, Doha Bank, and Masraf Al Rayan.
The 10-year hybrid facility, which comprises commercial and Islamic tranches, is the largest transaction – both in terms of value and tenor – ever achieved in Qatar’s tech sector, underscoring the confidence of leading financial institutions in Ooredoo’s strategic vision.
The funds will be strategically allocated to carve out existing data center assets from Ooredoo’s 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.
Ooredoo’s Data Centre company was established to pioneer the region’s digital transformation by providing cutting-edge colocation services to hyperscalers and enterprises. As part of its strategic growth, the company plans to expand its capacity to over 120 megawatts through a USD 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.
With 26 active data centers across Qatar, Kuwait, Oman, Iraq, and Tunisia, Ooredoo continues to lead the MENA region’s data center market. The company is committed to building a new generation of sustainable, energy-efficient data centers that will securely process IT workloads for governments, hyperscalers, enterprises, and startups, driving innovation and AI adoption across the region.
The deal will position Ooredoo and its Data Centre company among the leading companies in the region to utilise the rise of generative AI and solidify Ooredoo’s position as the leading digital infrastructure provider in the region. Ooredoo Group has strong partnerships with hyperscalers, enabling the company to offer cloud-based solutions including Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS).
