Doha, July 29 (QNA) - MEEZA, a leading Data Centers and Managed IT services provider, announced that it has secured an additional QAR 1.6 billion Commodity Murabaha bank facility from Dukhan Bank, marking another major milestone in the Company's growth journey. The new facility builds on the strategic financing partnership previously established between MEEZA and Dukhan Bank and will support the next phase of MEEZA's Data Center expansion plan.
The additional funding will enable MEEZA to accelerate the delivery of new Data Center capacity across its growing portfolio, including the continued development of M-VAULT 6, MVAULT 7 and M-VAULT 8 in Qatar. These projects form part of MEEZA's wider plan to significantly increase its Data Center capacity and strengthen Qatar's position as a regional hub for Digital Infrastructure, Cloud Services, Cybersecurity and Artificial Intelligence.
Together, these new data centres are expected to deliver approximately 44 MW of additional capacity, marking a major expansion of MEEZA's digital infrastructure and supporting its long-term strategy to more than triple its current data centre capacity to over 60 MW.
The long-term facility was structured under Sharia-compliant Commodity Murabaha principles and on similar terms and conditions to the existing facility, underscoring Dukhan Bank's continued confidence in MEEZA's vision, operational excellence and sustainable growth strategy. The funding will further enhance MEEZA's ability to meet growing demand from Hyperscalers, enterprise clients and Government entities, while supporting the development of advanced, secure and scalable digital infrastructure in Qatar.
Chief Executive Officer of MEEZA Mohamed Ali Al Ghaithani said that "securing this additional QAR 1.6 billion facility from Dukhan Bank represents a major strategic milestone for MEEZA. It provides us with the financial strength and flexibility to fund the next phase of our ambitious Data Center expansion plan."
He also said that the financing will support the company's plan to deliver significant Data Center capacity expansions in Qatar, increasing the company's capacity to over 60 megawatts.
"As demand for Cloud, Cybersecurity, Artificial Intelligence and advanced Infrastructure services continues to grow, MEEZA remains focused on expanding high-quality, resilient and future-ready capacity for our clients," he added.
For his part, Acting Group CEO of Dukhan Bank Ahmed Hashem said that the financial institution was "pleased to continue supporting MEEZA's strategic expansion and its role in advancing Qatar's digital infrastructure. This additional facility reflects our confidence in MEEZA's long-term growth strategy and the strength of its business model."
Through strategic investment in advanced technology infrastructure and the delivery of secure, innovative ICT services, this partnership between MEEZA and Dukhan Bank plays a key role in advancing Qatar National Vision 2030 and accelerating the country's digital economy. (QNA)