MIS receives notice from Saudi Fransi Capital on launch of first data center fund

Logo of Al Moammar Information Systems Co.

Al Moammar Information Systems Co. (MIS) received a notice from Saudi Fransi Capital (SFC) on Oct. 13, confirming the launch of the Saudi Data Centers Fund 1, the company said in a statement to Tadawul today, Oct. 14.

This is the first private fund of its kind in Saudi Arabia, based on the official approval of the Capital Market Authority (CMA).

The target fund size is SAR 1.5 billion, which will be used to build, own and operate six data centers across two available areas with a combined initial capacity of 24 megawatts (MW).

MIS said it is cooperating with SFC in this initiative.

The company was appointed as the design-builder for the design and construction phase. It is also responsible for facilities management.

Any major developments will be announced in due course, the statement said.

In July, MIS signed agreements for the development, design, and management of data center facilities with SFC – the manager of the proposed private investment fund.