The ten-year hybrid financing arrangement, secured through a partnership with QNB, Doha Bank, and Masraf Al Rayan, marks the largest tech-sector deal of its kind in Qatar.

The financing will fund the expansion and modernisation of Ooredoo’s data centre operations, further positioning the company to capitalise on the growing demand for hyperconnectivity, artificial intelligence (AI), and cloud services.

As digital transformation accelerates in the MENA region, this deal sets the stage for Ooredoo to become a critical player in advancing the region’s technological capabilities.

Aziz Aluthman Fakhroo, CEO of Ooredoo Group said: “The MENA region is rapidly emerging as one of the fastest-growing markets for data centres worldwide, and the untapped potential for AI, cloud services, and accelerated computing is enormous.

“This financing marks a pivotal milestone in our strategic plan to expand our data centre and AI operations, allowing us to meet the region’s increasing demands while continuing to invest in sustainable, energy-efficient infrastructure.”

The funds will be used to consolidate and expand Ooredoo’s existing data centre infrastructure, adding substantial capacity and upgrading technology to serve the growing needs of businesses, governments, and consumers in the MENA region.

The investment will enable Ooredoo to carve out its data centre assets from its telecoms operations, creating a specialised data centre unit that will focus on hyperscalers, enterprises, and cloud services.

Abdulla Mubarak Al-Khalifa, QNB Group CEO hailed the deal as a significant development for Qatar’s tech industry: “We are proud to collaborate with Ooredoo, Doha Bank, and Masraf Al Rayan on this landmark financing.

“The rapid growth of data centres in Qatar and the region is crucial for supporting AI, cloud computing, and the broader digital economy. This partnership demonstrates our commitment to enabling technological innovation and strengthening Qatar’s leadership in the global tech landscape.”

Masraf Al Rayan’s Group CEO, Fahad Al Khalifa also added: “This financing is a major step towards driving technological progress in Qatar and the broader region.

“Our partnership with Ooredoo underscores our belief in the future of digital infrastructure and sustainable growth, and we are proud to support an initiative that will further solidify Qatar’s role as a leader in the digital economy.”

Ooredoo’s Data Centre unit was established to drive digital transformation across the MENA region, offering state-of-the-art colocation services and cloud solutions to governments, enterprises, and startups.

With 26 active data centres already operational across Qatar, Kuwait, Oman, Iraq, and Tunisia, the new financing will help Ooredoo expand its capacity to over 120 megawatts through a $1 billion investment over the medium to long term.

This expansion will support the region’s growing need for data centre capacity, particularly as AI, cloud services, and digital connectivity continue to surge.

Ooredoo has also forged partnerships with leading hyperscalers to deliver cutting-edge cloud-based solutions, including Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS).

Earlier this year, Ooredoo announced a partnership with Nvidia. This collaboration will see Ooredoo leverage Nvidia’s advanced platform to power AI solutions across the region, providing governments and enterprises with sovereign cloud services.

The financing deal, which includes both commercial and Islamic tranches, is expected to unlock significant growth opportunities for Ooredoo as demand for AI, cloud, and digital services continues to expand at unprecedented rates across the MENA region.

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