DAMAC Group aims to raise the planned capacity of its global data-centre portfolio to 10GW by the end of 2027, up from around 6GW currently, Founder and Chairman Hussain Sajwani has said.
He was speaking at Bloomberg Invest Dubai 2026.
The portfolio is being built through DAMAC Digital, with projects across 14 countries. Current planned capacity stands at roughly 6,000MW, made up of about 1,000MW in the United States, 2,500MW in Europe and 2,500MW in Asia. Expansion plans include Thailand, Malaysia, the Philippines, Finland, Spain, Greece, Italy, Türkiye and the United States.
Sajwani said the group plans to acquire more land outside the US over the next 12 to 18 months. It is in serious negotiations for a large site in Australia and is also looking to expand in the United Kingdom.
The group remains committed to its US$20 billion US data-centre programme, with around US$9 billion already invested. It is focusing on large facilities starting at about 100MW that rely mainly on liquid cooling for AI chips and high-density computing.
Development costs have risen by around 30 percent and could climb a further 20 to 30 percent, he said. Supply-chain disruption and equipment delays are the industry’s biggest challenge, though higher costs can be managed through pricing models and contracts with major corporate customers.
Sajwani said he does not see the AI boom as merely a bubble, but as a long-term transformation, while acknowledging that valuations could correct in the coming years. His technology portfolio includes Anthropic, OpenAI, xAI, Databricks, ByteDance, Together AI and Reflection AI. He said his Anthropic investment, made less than two years ago, had generated gains comparable to those built up over about three decades of earlier business activity.
He called for faster AI investment while practical solutions are found for energy and water demands.
News Source: WAM
