UAEBusiness

UAE data center firm Gulf Data Hub seeks $1 billion minority stake sale

Company has more than 40MW in operation, 90MW in construction, and hundreds more megawatts in pipeline across the Middle East

Gulf Data Hub (GDH) is reportedly weighing the sale of a minority stake in the company.

Citing people familiar with the matter, Bloomberg reports the United Arab Emirates-based colo firm is hoping to fetch up to $1 billion for the minority sale.

The company has reportedly drawn interest from international private equity firms. It’s working with JPMorgan Chase on the deal, sources claimed. No firm decision over a deal has been made yet.

Founded in 2012, Gulf Data Hub is owned by its founder,Tarek Al Ashram. The company operates five data centers, has around five under construction, and more than a dozen facilities planned across the Middle East.

The company currently has four facilities live across Dubai and Abu Dhabi in the UAE, and one each in Jeddah and Dammam, Saudi Arabia, totaling around 40MW. It claims to have 90MW of capacity currently under construction, with further facilities in Abu Dhabi (x2), and Dubai (x2) in development.

As well as expansion of existing markets and a move into Riyadh in Saudi Arabia, the company’s pipeline on its website includes plans for more than a dozen facilities across Bahrain, Qatar, Kuwait, Oman, Morocco, and Jordan.

Last year, Gulf Data Hub said it was planning three data center campuses in Egypt totaling 192MW, with potential to expand to 300MW. The move is in partnership with local firm Elsewedy Data Centers.

In 2022, GDH secured AED530 million ($144.3 million) in syndicated financing from the Commercial Bank of Dubai to finance future projects.

Source: datacenterdynamics

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