Riyadh and London, 19 November 2024:Pure Data Centres (“Pure DC”), a leading global provider of data centre infrastructure, and Dune Vaults, an innovation-driven digital infrastructure platform, announced today a joint venture to develop hyperscale data centres in the Kingdom of Saudi Arabia. The joint venture plans to develop multiple 100+ MW-capacity campuses of best-in-class facilities, making it one of the largest data centre providers in the region, poised to meet growing local and international customer demand.
Saudi Arabia is the fastest-growing data centre market in the Middle East1, driven by government digitalisation efforts, a ‘Cloud First’ policy and a favourable regulatory environment. With the growth of mega and giga projects in Saudi Arabia, significantly increased demand for AI technology and cloud services is anticipated. This demand is further bolstered by an abundance of stable, low-cost and renewable power, land, and a government focused on the development of the technology and AI sectors.
The new venture marks a significant milestone for Pure DC’s expansion in the region as it seeks to meet the growing demand from its global customer base for secure, low-latency connections to support real-time applications and services, including support for the growing demand for AI technology. Pure DC benefits from the expertise and investment backing of funds managed by Oaktree Capital Management, L.P, “Oaktree”, a leading global investment manager specialising in alternative investments.
With this strategic expansion, Dune Vaults’ aims to diversify its portfolio by addressing the surging demand for end-to-end wholesale data centre services and develop critical data centre infrastructure
in Saudi Arabia to cement the Kingdom’s digital leadership in the region. Dune Vaults benefits from being backed by prominent Saudi investors.
Faisal AlRahbiny, Founder & MD of Dune Vaults, said: “We are dedicated to establishing over 1,000 MW of sustainable data centre capacity in Saudi Arabia, aligning with market demand estimates and supporting the Kingdom’s Vision 2030 digital transformation goals. Through our strategic partnership with Pure DC, we are bringing advanced data centre solutions to meet the needs of global hyperscalers whose presence in the Kingdom will accelerate digitization and economic growth. As key contributors to the Kingdom’s Vision, we are not only investing in digital infrastructure but also in developing local talent and creating substantial economic opportunities, supporting a vibrant and future-ready Saudi Arabia.”
Dame Dawn Childs, Chief Executive Officer of Pure DC, said: “Data centres are the engines for innovation. In Dune Vaults we have a partner that matches our ambition for solving the challenges of the future and the expertise to support our expansion in one of the fastest-growing markets for data capacity.”
Bill Davis, Chief Investment Officer of Pure DC, said: “We are thrilled to embark on this strategic partnership with Dune Vaults, which will enable us to deliver some of the largest digital infrastructure solutions in Saudi Arabia. This is critical infrastructure that hyperscale customers demand and puts Pure Data Centres at the forefront of advancing the rapid growth of AI. Combining Dune Vaults’ development expertise and local relationships with Pure DC’s technical and operational know-how will provide a highly scalable solution in an exciting, fast-growing market where demand for data centres and digital infrastructure is so strong.”
1 “Data Centres, The MENA Report” Knight Frank, Q3 2023: https://content.knightfrank.com/research/2788/documents/en/data-centres-the-mena-report-q3-2023-10794.pdf
About Pure Data Centres
Pure DC develops and operates data centres for some of the world’s largest technology companies which meet today’s digital demands while safeguarding all our tomorrows. We currently have over 500MW of IT capacity live or under development across the UK, Europe, the Middle East and Asia, including London, Dublin and Jakarta sites. We are a leader in developing and operating sustainable data infrastructure and believe that data centres are an essential service which can be a force for good, creating employment opportunities, supporting local communities and investing in environmental restoration
About Dune Vaults
Dune Vaults is one of Saudi Arabia’s fastest-growing digital infrastructure platforms, dedicated to advancing the Kingdom’s National Transformation Program and Vision 2030. Led by a founding management team with a proven record across data centres, infrastructure, renewables, power, and energy, Dune Vaults excels in sourcing, structuring, and managing high-value real estate and digital assets in supply-constrained markets. Backed by some of the Kingdom’s most respected business families, Dune Vaults is committed to building resilient, sustainable digital infrastructure that supports economic growth, fosters innovation, and strengthens Saudi Arabia’s position as a leader in the digital age
About Oaktree
Oaktree is a leader among global investment managers specialising in alternative investments, with $205 billion in assets under management as of September 30, 2024. The firm emphasises an opportunistic, value-oriented and risk-controlled approach to investments in credit, equity, and real estate. The firm has over 1,200 employees and offices in 23 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/
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