Luxury real estate firms in Dubai want to broaden their horizons by appealing to other markets as well. These companies in Dubai have now set their sights on Spanish firms in sectors unrelated to real estate. Damac Group, one of the most important in the United Arab Emirates in this industry, is interested in developing a data center in this country, revealing a new trend among these companies.
As confirmed to the Spanish press, Damac Group acquired land in Madrid to develop a data center, which involved an exorbitant investment of 400 million euros, indicating an interest in new technological spaces to diversify the economy and broaden their horizons.
Spain, a focal point for investors from Dubai.
Luxury properties are the most attractive types of investments in Spain for investors from other countries who see places like Madrid, Barcelona, Marbella or the Balearic Islands as suitable destinations for buying, which has increased the value of the market within this territory. Although this is a good sign for the country, properties in this country that are not luxury have experienced a rise in their values, which has sparked complaints from some residents.
The truth is that Spanish experts assure that this should not worry the population, as the increase in values is also due to other reasons. Meanwhile, the interest of Damac and its upcoming investments in Spain need not be a nuisance for the rest of the economy because the price increase in the areas where they will take place, such as Zaragoza and Barcelona, is not only due to their investments.
An unprecedented investment from Dubai in Spain.
Damac Group was interested in the Madrid land to develop its project and the company ActivumSG, ASG Iberia, was responsible for carrying out the commercialization. This space will take place in the fastest-growing data center market outside the area known as Flapd (Frankfurt, London, Amsterdam, Paris, and Dublin).
According to Damac’s authorities, the formation of this data center, which involved the expenditure of 400 million euros, reflects the need to increase investment in digital infrastructure and AI. With this construction, the luxury real estate company aims to expand its diversified investment portfolio.
Damac Group’s diversified plan, the recognized company from Dubai.
with this investment, damac group from dubai actualizes the intentions of all united arab emirates to diversify its investments and gain more presence within the global technology markets. in these markets, the demand for data storage, cloud computing, and digital services is high, and the conditions in spain are favorable. thanks to its strategic location and rapidly growing digital economy, it is an attractive destination for this type of investment.
the company will establish its first 40 mw business in the data center space in spain. the company’s objectives are to continue with global development and “offer robust solutions that meet the needs of hyperscalers and enterprise customers in a quick timeframe.” damac also confirmed that “additional investments in madrid will be considered, and we will seek opportunities in strategic locations such as barcelona, zaragoza, and other places in spain.”
