UAE Business: Damac Group plans massive investment in Germany – Gulf Digital News

UAE Business: Damac Group plans massive investment in Germany – Gulf Digital News

Dubai-based conglomerate Damac Group has announced it is exploring investment opportunities in Germany with an estimated spend of up to €1 billion ($998.6 million).

Hussain Sajwani, the chairman of the Damac Group, best known for its luxury real estate development in the Middle East and globally, is particularly interested in data centre and tech-related opportunities, and the company is currently on a fact-finding mission in Germany to research the market and possibly identify mutually beneficial partners.

"It's a very interesting time now in Germany, especially for future-oriented industries and the country has a lot of opportunities in sectors such as data centres. I see a lot of opportunity and potential, especially in Eastern Germany that I would like to explore and learn more," he stated.

In 2021, Damac entered the data centre world with its launch of Edgnex, a global digital infrastructure provider that identifies and invests in the next digital hubs.

The following year, the company announced it would facilitate cryptocurrency payments and would also establish D-Labs, a company that would build digital cities in the metaverse.

Apart from real estate, Damac Group has a diverse and rich portfolio including capital markets, data centres, hospitality, fashion and retail.

In the past few years, Sajwani not