Dubai: Damac's EDGNEX acquires European data centre firm
EDGNEX Data Centres by Damac, the digital infrastructure platform of the Dubai-headquartered Damac Group, has acquired Finland-founded data centre company, Hyperco.
The Dubai-based property giant aims to strengthening its presence in the European market and contributing to the region's evolving data center landscape, creating new jobs and promoting economic development.
Damac, however, didn't disclose the value of the acquisition.
Earlier this year, Damac Group announced plans to invest $20 billion (Dh73.4 billion) in the US.
Hyperco's operations are focused on Finland and Sweden, leveraging the Nordic region's sustainable energy resources, mature digital ecosystems, and high connectivity. All three Hyperco founders, together with the team, will continue to steer the company forward during the next growth phase.
'This acquisition aligns with our vision to develop strong partnerships, invest, and build scalable, world-class digital infrastructure. Hyperco brings a great team, deep market expertise, and a shared commitment to innovation, which will drive our success in the region. We plan to build a significant future capacity in the Nordics and establish a strong foothold in the market,' said Hussain Sajwani, founder of Damac Group.
'This marks an exciting new chapter for Hyperco. Joining forces with EDGNEX and Damac Group empowers us to accelerate our mission of delivering large-scale, sustainable data center infrastructure tailored for hyperscalers and AI-driven workloads. With our established footprint in Finland and Sweden, access to low-carbon energy, and focus on scalability, we are well-positioned to meet the growing digital demands of the region and beyond,' said Aleksi Taipale, co-founder and CEO of Hyperco.
Since its launch in 2021, EDGNEX has grown its presence globally. Backed by over 100+ seasoned professionals, the company is on track to deliver 55 MW in the Middle East by 2025, with a projected global capacity exceeding 3,000 MW. EDGNEX is targeting more than 300MW of operational capacity by 2026, supported by a robust investment pipeline of over $3 billion, including key Southeast Asian markets.
EDGNEX's recent European activities include a €150 million joint venture in Greece with Public Power Corporation (PPC) to develop up to 25 MW and a €400 million commitment to build a 40 MW data center in Madrid, Spain. Earlier this year, EDGNEX also announced $20 billion of foreign investment in building state-of-the-art data centres in the USA.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
2 hours ago
- The National
Money & Me: ‘Seeing our business break even has been a milestone'
Sisters Chandini and Chanchal Guria came together to work on their passion for health and bootstrapped their business, Ekaya Wellness Studio, in Dubai last year. The yoga and Pilates instructors previously had separate careers, with Chandini, 34, employed as a journalist, while Chanchal, 30, was working in property management. The Indian siblings arrived in the UAE from Hong Kong in 1998, after their father moved to the country for work. Chanchal completed her bachelor's degree in finance accounting and management at the University of Nottingham, in the UK. Chandini went to the London College of Fashion, where she obtained her bachelor's degree in fashion design and development. But writing was her passion, so she joined Dubai Week as a journalist and also worked with insydo Dubai. After spending five to six years in the industry, she felt burnt out and decided to become an entrepreneur. The sisters started selling yoga mats and launched Meow Yoga, an e-commerce brand, as a side business. They currently live with their parents and brother in The Meadows, Dubai. Did wealth feature in your childhood? What did you learn from it? Chanchal: Wealth was a bit up and down. The reason we shifted from Hong Kong to Dubai was because my dad went out of business there, and he got a job here. Dubai wasn't so expensive back then, so we were on a saving curve. From a young age, our mother would tell us not to buy stuff – that put it in our heads that money is quite important and we're short on it. During the global financial crisis, our money was stuck in property. We saw some bad times. We had to move out of our house into a small apartment. And then, we rebounded. It taught us to know our limits, save when possible, but also enjoy it when you have the money. Don't spend on things you don't need. But there's nothing wrong indulging yourself once in a while. Chandini: Although we went through ups and downs, our father always tried to make sure all our needs were met, and it taught me the importance of hard work and a support system. What did your first job pay? Chandini: As a junior writer with Dubai Week, I earned Dh6,000 ($1,633) a month in 2015. Chanchal: In 2016, I interviewed with Nakheel and was hired as a property management co-ordinator on a starting salary of Dh9,500, and I worked there for nearly five years. Any early financial jolts? Chandini: When I quit my job, I didn't realise that living on your own savings and starting a business is expensive, so I ran out of money really quickly. How do you grow your wealth? Chandini: I'm still at a point where I need to save money before I focus on growing my wealth. My future plan is long-term investments, such as in properties and companies that I believe in. Chanchal: I don't have a lot of investments either. I have savings accounts. Investing in our wellness business was the first step in growing our wealth. We hope to see our income grow after a year and a half and then open up the next centre. Are you a spender or a saver? Chandini: Even though I'm a spender, I have no regrets because most of the things I pay for are about my well-being, such as massages, workouts and wellness activities. Chanchal: I'm the complete opposite. I love to save money, but I do feel like spending on yourself and for the right thing – it is important to splurge a little sometimes to have a good time. You have to enjoy what you earn. It's OK to go out and have nice dinners once in a while, but not to do it every single day. Have you been wise with money? Chandini: I'm pretty wise with money. It sounds a bit contradictory to my statement that I'm a huge spender, but I do it for the right reasons, and I have no regrets about what I spend on. So even though my savings aren't huge, I think I am wise with money. Chanchal: I like to always keep track of what I'm spending on in an Excel sheet, as I studied accounting and I'm obsessed with numbers. What has been your best investment? Chandini: It's nice having a business where you are supporting staff and the community. But my best investment is my Kindle. I can't even describe how much joy it brings. Chanchal: Definitely, our business Ekaya, considering the time and effort we put into it. It pays back in different ways. And we've already hit break even. Any cherished purchases? Chanchal: I just bought myself a new car, so I'm obsessed with that. It's the Range Rover Velar. Any financial advice for your younger self? Chandini: I grew up as a shy, quiet kid who never really stood up for herself. I would tell my younger self to not be scared to ask for what you deserve, whether it's a raise or a promotion. What luxuries are important to you? Chandini: The most important luxury to me is spending quality time with my family and friends. Chanchal: One of the biggest luxuries is finding time for yourself. I have started to find time to do things that make me happy, such as getting a massage once a week and scheduling time to play badminton. What are your financial goals? Chandini: My goal has always been to become financially independent. I want to be able to support and care for my family alone. Chanchal: My financial goal is to be independent. I would also like to see our business grow as much as possible. In one and a half years, I hope we're able to open a second location. Any key financial milestones?
Arabian Post
3 hours ago
- Arabian Post
Willem Blijdorp: Building a Global Business Empire
Willem Blijdorp initially set his sights on a career in tourism. From 1970 to 1975, he studied at the Hotel Management School in Maastricht, the Netherlands. However, upon graduation, he chose an unexpected path. He decided to become the organizer of the now-legendary 'Butterfahrten'. This marked the beginning of an entrepreneurial journey that continues to this day. The Butterfahrt Concept During a business trip to Germany, Blijdorp was struck by how popular Butterfahrten were among Dutch tourists. These day trips involved boarding a ship that quickly sailed beyond national waters. Once in international territory, passengers could shop duty-free to their heart's content. ADVERTISEMENT Sensing a unique opportunity, Blijdorp introduced the concept to the Dutch market in 1975. Operating out of Eemshaven, he launched daily Butterfahrten for Dutch tourists. Blijdorp's success lay in offering more than just tax-free shopping. His cruises delivered a memorable experience, blending commerce with entertainment. Passengers were encouraged to shop, but they also enjoyed a full day of games, music, quizzes, and small lotteries. This unique combination of retail and entertainment struck a chord with the Dutch public. In 1976, Blijdorp began working part-time for shipping company Kamstra, whose mini-cruises were booming. That same year, he received a full-time offer from Marriott Hotels in the United States. Simultaneously, Kamstra also offered him a permanent role. Although he originally intended to pursue a career in the hotel industry, he took the leap into entrepreneurship. On the condition that he could acquire shares in the company, he accepted Kamstra's offer and came on board full-time. Blijdorp's talent for business soon became evident. He built strong relationships with German suppliers, securing exclusive deals available only to Butterfahrt passengers. These arrangements not only kept customers coming back but also laid the groundwork for his later venture: B&S. The Rise of B&S In 1985 Blijdorp founded B&S, a company focused on the distribution of duty-free products. What began as a clever cruise concept soon transformed into a serious business. While the European unification brought significant economic advantages, it also marked the end of duty-free sales within the EU. As a result, the Butterfahrten ceased in 1999. Nevertheless, B&S remained focused on the duty-free market, which meant that B&S continued to grow. What began as modest boat trips from Eemshaven evolved into a global tax-free distribution empire. The experience, relationships, and business acumen developed during the Butterfahrten years became the foundation of B&S's growth into a market leader. Expanding the Business Today, he is also an active investor with a particular interest in startups and social ventures. He is involved in companies such as Mercatum Medical Care – a medical wholesaler, SocialDatabase – a data-driven marketing platform, and Advion -a distributor of cleaning and sanitary addition, he is committed to social initiatives like the Papageno House, a residence that supports children with autism. He also contributes to international projects that provide clean water and sanitation in underserved communities, such as those in Ghana. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Arabian Business
3 hours ago
- Arabian Business
Dubai ranked number 1 globally for creative industry FDI
Dubai has once again been named the world's top destination for greenfield foreign direct investment (FDI) in the cultural and creative industries (CCI), securing the No. 1 spot in the Financial Times fDi Markets rankings for 2024. This marks the third consecutive year the emirate has outperformed global cities like London, Singapore, and New York. In 2024, Dubai attracted 971 creative sector projects, an 8 per cent increase from 2023, bringing in AED18.86bn ($5.1bn) in capital, up nearly 60 per cent year-on-year. Dubai foreign investment in creative industries These investments generated 23,517 new jobs, highlighting the city's growing appeal as a creative economy powerhouse. Key sectors driving this growth include: Advertising and PR Film production Gaming Education AI-powered software design According to the Dubai FDI Monitor, greenfield, wholly-owned ventures made up 76.5 per cent of all projects, reflecting strong investor commitment. The United States led with 23.2 per cent of capital inflows, followed by India, the UK, Switzerland, and Saudi Arabia. India stood out in job creation and project volume. Pro-business reforms, like allowing free zone firms to operate onshore and slashing bureaucracy, combined with robust IP laws and cutting-edge infrastructure, continue to make Dubai a magnet for global creatives and investors. As outlined in the 'Creative Dubai' report, the city is emerging as a global hub for design, immersive tech, and AI innovation—cementing its reputation as a leading destination for creative enterprise in 2025 and beyond.
