Saudi Fransi Capital, in collaboration with Al-Muammar Information Systems Company, announced the launch of the Saudi Data Centers Fund 1, the first private fund of its kind in the Kingdom of Saudi Arabia.
Saudi Data Center Fund 1 is a private and closed-end investment fund, compliant with Islamic principles and regulated by the laws of the Capital Market Authority of the Kingdom of Saudi Arabia.
The size of the target fund is 1.5 billion riyals which will be used to build, own and manage 6 data centers in two areas available with a combined initial capacity of 24 MW.
Saudi Fransi Capital is partnering with Al Moammar Information Systems Company in this unique initiative. At Moammar Information Systems he was appointed as a designer for the design and construction phase in addition to his ongoing responsibilities for facility management.
Commenting on the fund’s launch, Salam Al-Khunaizi, CEO of Saudi Fransi Capital, said: “This is a historic moment for us and our partner, Al Moammar Information Systems, as we have jointly decided to provide a platform to support growth. of the digital information infrastructure in Saudi Arabia, in in line with the strategy I have outlined The Ministry of Communications and Information Technology and working to achieve the goals of digital transformation within the National Transformation Program for Vision 2030.
He added that it is in in line with the mission in Saudi Fransi Capital’s course of providing attractive and innovative investment opportunities to all of its investors, while contributing to the achievement of the Kingdom’s overall goals for financial sector development and economic transformation.
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