National —
On October 11th, 2024, the Thai Deputy Prime Minister and Minister of Digital Economy and Society, Prasert Chanruangthong, announced a landmark joint venture between Thailand’s Proen Corp PCL and the UAE’s DAMAC Group.
The partnership, worth over 32 billion baht, will establish a state-of-the-art data center, “Edgnex Data Centers by DAMAC,” on Rama 9-Srinakarin Road. This massive facility aims to strengthen Thailand’s digital infrastructure, positioning the country as a regional leader in cloud computing, AI, and digital services.
DAMAC Group, known for its real estate and data center developments, is making its first foray into Thailand and Asia. This investment is part of their long-term strategy, with plans to further expand in the region, including a future focus on branded residential real estate in 2025.
According to Prasert, this project is crucial in boosting Thailand’s digital economy and aligns with the government’s vision to make the country an ASEAN data hub. He is also pushing policies like “Cloud First” and AI integration to enhance Thailand’s competitiveness.
DAMAC Group’s billionaire founder, Hussain Sajwani, stated that this project marks the start of broader investments in Thailand, with potential plans for additional data centers and high-rise developments in Bangkok.
The first phase is set to open in early 2025, with full completion by February 2025, according to Prasert.
Proen Corp will hold a 30% stake in the initial phase, with a 1.7 billion baht investment, further contributing to Thailand’s digital transformation and attracting more global investors.
