Sajwani's Edgnex Data Centers forms JV with PPC for $157M investment in Greece

Dubai billionaire Hussain Sajwani's Edgnex Data Centers, a subsidiary of the Damac Group, has entered into a joint venture with European utility company PPC Group to establish a data center in Spata, Greece. The project entails an initial investment of EUR 150 million ($157.3 million) to build a 12.5-megawatt facility, with plans for future expansion to 25 megawatts. This collaboration, called Data In Scale (DIS), sees Damac with a controlling 55% stake and PPC with 45%. The development is part of Edgnex's strategy to capture the expanding cloud computing market, with this Greek initiative aligning with other international investments, including a $1 billion project in Thailand and a EUR 400 million venture in Spain. The initiative signals a diversification strategy for Sajwani's company, traditionally focused on real estate, as it seeks growth through digital infrastructure investments. The first phase of the Greek project is slated to commence in Q1 2025, with completion expected within two years.