Dubai-based leading business conglomerate DAMAC Group is exploring investment opportunities in Germany with an estimated spend of up to $991 million (€1 billion).
Mr. Hussain Sajwani, Chairman of the DAMAC Group, is particularly interested in data center and tech-related opportunities, and the company is currently on a fact-finding mission in Germany to research the market and possibly identify mutually beneficial partners, according to the statement.
In 2021, DAMAC entered the data center world with its launch of Edgnex, a global digital infrastructure provider that identifies and invests in the next digital hubs.
Earlier this year, DAMAC Group announced its plans to embark into the world of the metaverse and build its own digital cities. Furthermore, the Group plans to invest a capital of up to $100 million in the project.
The chairman said in a statement that “It’s a very interesting time now in Germany, especially for future-oriented industries and the country has a lot of opportunities in sectors such as data centers.”
“I see a lot of opportunity and potential, especially in Eastern Germany that I would like to explore and learn more,” Mr. Sajwani further added.
Apart from real estate, DAMAC Group has a diverse and rich portfolio including capital markets, data centers, hospitality, fashion, and retail.
The DAMAC Group has been taking interest and is intent on expanding its portfolio by adding distressed luxury assets, to turn them over into profit-making investments. Recently, the Group purchased the Switzerland-based jewelry brand, de GRISOGONO, as part of its vision to expand its global footprints across sectors and geographies.
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