DigitalBridge unveils PIF as investor to develop data centers in Saudi Arabia, GCC

Logo of Public Investment Fund (PIF)

DigitalBridge Group Inc. announced today, May 24, that the Public Investment Fund (PIF) is an investor in a new partnership that aims to develop data centers in Saudi Arabia and the GCC.

In an emailed statement to Argaam, the leading global asset manager, which invests in the next generation of mobile and internet connectivity, said the partnership will initially prioritize investments in the data center sector. It is expected to explore other segments of digital infrastructure in the future, including macro towers, fiber optics, small cells and advanced infrastructure.

Partnering with DigitalBridge will support the enhancement of digital infrastructure in Saudi Arabia to the highest global standards, in line with the PIF's strategy, the statement noted.

The investment aims to localize cutting-edge technologies and support knowledge transfer to develop and operate hyperscale data centers and database servers in Saudi Arabia and the GCC region.

This will be in accordance with the best practices in this vital sector, which will help large local and international corporations to carry out their business in the region with greater efficiency, DigitalBridge added.