Khazna Data Centers has secured $2.62 billion in bank financing to grow its data center empire.

The UAE-based firm has secured funding from two of the country’s banks, Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank.

It will enable the company to finance its data center build-out across the Middle East and North Africa.

“The criticality of our work is highlighted by the expanding scale, scope, and sophistication required to support complex, resource-intensive AI workloads,” said Fabio Cattaneo, CFO, Khazna Data Centers.

“This work involves the deployment of vast sums of capital investment, and access to such capital requires a stable, attractive business model, underpinned by the strength of our financial position and our disciplined approach to capital management. This is what we have built at Khazna, enabling us to secure one of the largest financing deals the region has ever seen.”

Khazna is currently building two new data centers in Masdar, the UAE, with a combined capacity of 60MW.

It launched a 31.8MW data center in Abu Dhabi in February 2024, known as AUH6, and also in Masdar City.

The company is backed by G42, and in April 2025, secured additional funding from MGX and Silver Lake, with the investment firms becoming minority shareholders in the business. It currently operates 30 data centers across the UAE and is also developing a facility in Egypt.

Ludovic Nobili, group chief corporate, wealth, and investment banking officer at ADCB, said: “This transaction highlights ADCB’s steadfast contribution to the UAE’s vision of a knowledge-based, future-focused economy. Leveraging our robust balance sheet, extensive financial expertise, and dedication to innovation, ADCB is proficient at syndicating and structuring financing for large-scale digital infrastructure projects such as those spearheaded by Khazna.

“We are proud to support a platform that is laying the digital foundations essential to the UAE’s global competitiveness and sustainable growth.”