Dubai Holding seeks stake in UK data centre developer Hscale

Dubai Holding is reportedly considering an investment in UK-based data centre developer Hscale as part of its European expansion strategy.

The global investment holding company owned by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum is working with its advisors to take a stake in Hscale, Bloomberg reported, citing unidentified sources.

Hscale is backed by US-based alternative investment company Bain Capital, which is seeking additional funds to develop the business, the report said.

Hscale designs and builds data centres across Europe, the Middle East and Africa. It has more than 1 gigawatt in its project pipeline, with 70 megawatts under construction, according to its website.

Representatives for Bain and Dubai Holding declined to comment to Bloomberg.

Dubai Holding has investments in more than 30 countries and a portfolio of over AED500 billion ($136 billion) worth of assets across sectors including real estate, hospitality, entertainment, retail and media.

In June one of its subsidiaries became Emaar Properties’ largest shareholder after acquiring the Investment Corporation of Dubai’s  entire stake.

• Core42 expands US footprint as UAE pursues AI ambitions
• Turkey’s $10bn AI strategy depends on reversing brain drain
• aBusinesses remain weak link in Gulf cyber defences