Riyad October 15 2021: Saudi Fransi Capital (SFC) announces the launch of Saudi Data Center Fund I, Saudi Arabia's first private fund initiative of its kind.
Saudi Data Center Fund I is a private, closed-end investment fund, compliant with Shariah principles and organized under the laws of the Saudi Arabian Capital Market Authority. The fund has an initial target size of SAR 1.5 billion, which will be utilized to build, own, and operate six (6) Data Centers across two (2) availability zones with a combined initial capacity of 24 megawatts (MW).
Saudi Fransi Capital is collaborating with Al Moammar Information Systems (MIS) in this unique initiative. MIS has been appointed as the design-builder for the design and construction phase as well as having ongoing responsibilities for facilities management.
Salam AlKhunaizi, Chief Executive Officer of Saudi Fransi Capital, said:
“This is a historic moment for our partner, MIS, and us as we jointly embark on providing a platform to support the growth of digital information infrastructure in Saudi Arabia, in line with the strategy outlined by the Ministry of Communications and Information Technology.
We are working toward achieving the digital transformation goals under the National Transformation Program of Vision 2030. This is consistent with Saudi Fransi Capital's ongoing mission to deliver attractive and innovative investment opportunities to all of its investors while gainfully contributing to the Kingdom's overall goals of financial sector development and economic transformation.”