EDGNEX Data Centers By DAMAC Partners With PROEN Corp To Transform Thailand's Digital Landscape

DAMAC Group, through its digital infrastructure arm EDGNEX Data Centers, is set to significantly boost Thailand's digital landscape with a substantial investment exceeding $1 billion (over 32 billion Baht).

This investment is earmarked for a series of data center projects poised to cater to the burgeoning requirements for sophisticated AI technology and enhanced data processing capacities. EDGNEX, under the aegis of DAMAC Group known for its prowess in real estate development, data centers, among other sectors, underscores the company's dedication to propelling the digital infrastructure forward.

In a move to solidify its commitment to Thailand's technological advancement, EDGNEX has forged a joint venture (JV) with PROEN Corp Public Company Limited, a key player in Thailand's tech realm. This strategic alliance not only signifies a major expansion for EDGNEX's operations in Thailand but also aligns with its broader vision for digital transformation across Southeast Asia.

The cornerstone of this JV is a cutting-edge data center project, envisioned to have a total capacity of 20 MW. Its initial phase, providing 5 MW, is slated for completion in early 2025. This carrier-neutral facility will boast Tier III uptime certification, ensuring unparalleled reliability and resilience for its clientele. The JV aims to kickstart its operations by the end of this year, marking a new chapter in Thailand's digital infrastructure development.

Holding a dominant 70% stake in the JV, EDGNEX will oversee the operations of the data centers. The launch of this collaboration was celebrated with a special event graced by Prasert Chantararuangthong, Deputy Prime Minister and Minister of Digital Economy and Society of Thailand.

"I am honored to be part of this event to congratulate the joint venture between these two corporations. It is a remarkable opportunity to meet key figures in the technology and digital industry, who play vital roles in driving Thailand forward into the digital era. The Thai government recognizes the importance of establishing a strong foundation for the digital infrastructure. We have policies that support all aspects of the digital industry's growth, from fundamental infrastructure and human resource development to fostering digital business.

This significant financial infusion from EDGNEX is set to revolutionize Thailand's data handling capabilities. It is timed perfectly to leverage the digital industry's upward trajectory, thereby making Thailand an attractive destination for global investors. Additionally, this move promises to open up rewarding avenues for Thai professionals in the digital business realm.

Hussain Sajwani, the founder of DAMAC Group, shared his excitement about expanding further into Southeast Asia, with a particular focus on Thailand. He highlighted the country's vast potential for digital innovation and smart technologies. "We aim to support Thailand's growing digital economy and provide the necessary infrastructure for the next generation of AI-driven businesses. With this announcement, we substantially commit to the Thailand market, outlining a pipeline of approximately 100 MW of future data center capacity," Sajwani stated.

Echoing the sentiments of a promising collaboration, Kittipan Sri-bua-iam, CEO of PROEN Corp, emphasized the partnership's significance in bolstering Thailand's digital infrastructure demands. He noted, "We are very excited about this partnership with EDGNEX Data Centers by DAMAC which is increasingly becoming a key player in the data center business with a solid footprint across SEA. This announcement underscores the importance of investments in the sector to meet Thailand's increasing demand for digital infrastructure. We look forward to bringing excellence and innovation to the market."

An insightful press conference was organized to commemorate this significant milestone, featuring senior executives from both EDGNEX and PROEN Corp. This announcement comes at a time when the Asia-Pacific data center market is on the cusp of substantial growth. Projections indicate the market will expand from 14.27 thousand MW in 2024 to 23.2 thousand MW by 2029, growing at a CAGR of 10.21%.