Dubai’s DAMAC looks at data centre investments in Italy

Dubai’s property firm DAMAC is interested in investing in data centre sites in Italy, the company’s founder Hussain Sajwani said on Monday.

“We are looking at data centres”, Sajwani said at a news conference on Monday when asked whether the group was considering any further investments in Italy.

Sajwani rescued Italian fashion group Cavalli in November 2019 through his private investment company Vision Investments, which is part of the DICO Group, owner of luxury resorts, hotels and shopping malls. Cavalli on Monday announced plans to open a skyscraper in Dubai in collaboration with Damac.

Demand for cloud services from businesses is surging in Italy, partly triggered by the coronavirus pandemic, while Rome has earmarked some 1.9 billion euros ($2.23 billion) to promote the use of cloud services across offices of its public administration and to upgrade the country’s data storage facilities.

A spokesman for DAMAC said the company is open to several options, including buying already existing sites and creating joint ventures with other partners. Reuters