Ooredoo Group has announced a landmark QAR 2 billion financing deal with QNB, Doha Bank, and Masraf Al Rayan, to accelerate the growth of its data center and AI business.
The 10-year hybrid facility, which comprises commercial and Islamic tranches, is the largest transaction—both in terms of value and tenor—ever achieved in Qatar’s tech sector, underscoring leading financial institutions’ confidence in Ooredoo’s strategic vision.
The funds will be strategically allocated to carve out existing data center assets from Ooredoo’s telecom operations, with a significant portion directed toward expanding capacity and upgrading infrastructure to support the growing demand for AI, cloud services, and hyperconnectivity in the MENA region.
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Aziz Aluthman Fakhroo, Group CEO, Ooredoo, said, “The MENA region is one of the fastest growing markets for data centers worldwide, and there is significant untapped potential in AI, cloud services and accelerated computing. This financing deal marks a major milestone in our strategic vision for expanding our data center and AI business, and we are excited to meet the region’s increasing demand while upholding our commitment to sustainable, energy-efficient infrastructure.”
Abdulla Mubarak Al-Khalifa, QNB Group CEO, added, “We expect the data center market to grow significantly over the coming years, and by supporting Ooredoo, we are investing in the future of AI and cloud services. This collaboration also strengthens Qatar’s leadership in technological innovation. We look forward to working closely with Ooredoo Group as this market evolves.”
Fahad Al Khalifa, Group CEO, Masraf Al Rayan, commented, "By partnering with Ooredoo, we are investing in the future of digital infrastructure and supporting sustainable growth through innovation and economic diversification. We are proud to be at the forefront of this significant initiative, which will undoubtedly cement Qatar’s position as a leader in the digital economy."
Sheikh Abdulrahman bin Fahad bin Faisal bin Thani Al Thani, Group CEO, Doha Bank, stated, “The growth of Ooredoo’s data centers will have a transformative impact on the tech sector, enhancing regional competitiveness and positioning the country as a leader in the digital economy. We are proud to play a role in enabling this important step towards achieving comprehensive development in Qatar and the region."
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Ooredoo’s Data Center Company
Ooredoo’s Data Center company was established to pioneer the region’s digital transformation by providing cutting-edge colocation services to hyperscalers and enterprises.
As part of its strategic growth, the company plans to expand its capacity to over 120 megawatts through a USD 1 billion investment in the medium-to-long term. This expansion will position Ooredoo to better serve the increasing demand for localized cloud services and IT workloads, particularly from hyperscalers.
With 26 active data centers across Qatar, Kuwait, Oman, Iraq, and Tunisia, Ooredoo continues to lead the MENA region’s data center market. The company is committed to building a new generation of sustainable, energy-efficient data centers that will securely process IT workloads for governments, hyperscalers, enterprises, and startups, driving innovation and AI adoption across the region.
The deal will position Ooredoo and its Data Center company among the leading companies in the region, consequently contributing to the rise of generative AI (GenAI) and solidifying Ooredoo’s position as the leading digital infrastructure provider in the region.
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