With the ink hardly dry on a UAE-Malaysia agreement to help the Asia-Pacific country build more data centres, the UAE has now signed a digital infrastructure deal with Greece.
According to the Trade Arabia news service, the UAE will help create a framework for investments in digital infrastructure with a focus on data centre projects in Greece.
Data centres to be developed under this agreement can reach a total capacity of 500 megawatts. This has been backed up with a memorandum of understanding (MoU).
It’s certainly looks like a promising market for data centre investment. Projections indicate that Greece’s data centre market will reach US$1.218 billion by 2028 from US$735 million in 2022. With 15 data centres, Greece is set to expand its data infrastructure with an additional 139 megawatts of power capacity from new data centres planned for development over the next five years.
This positions the country to become the largest data hub in Southeast Europe and the second largest in the Mediterranean by 2028. Greece also benefits from a network of more than ten submarine cables.
The MoU between the UAE and Greece focuses on forging effective collaboration by building relationships between public and private organisations. The agreement additionally proposes the implementation of incentives to support pertinent initiatives and aims to facilitate the exchange of knowledge.
The MoU was signed against the backdrop of a growing strategic partnership between the UAE and Greece, including a fund to invest in the Greek economy and a surge in non-oil trade between the nations.
