UAE, Greece sign agreement to advance development of digital infrastructure

UAE, Greece sign agreement to advance development of digital infrastructure

The Ministry of Investment of the UAE and the Ministry of Digital Governance of the Hellenic Republic have signed a Memorandum of Understanding (MoU) to create a framework for investments in digital infrastructure with a focus on data centre projects in Greece. The agreement was signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Dimitris Papastergiou, Minister of Digital Governance of the Hellenic Republic. Data centres to be developed under this agreement can reach a total capacity of 500 megawatts. The data centre market in Greece has witnessed significant growth in recent years, largely driven by the country's Digital Transformation Strategy 2020-2025, which aims to facilitate the transformation of companies across the Hellenic Republic into digital enterprises and incorporate digital technologies across its economic sectors. Projections indicate that Greece's data centre market will reach US$1.218 billion by 2028 from US$735 million in 2022, growing at a compound annual growth rate of approximately 9 percent. 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