Meeza, a leading data centre and managed IT services provider, has announced that it has secured an additional QAR1.6 billion ($432 million) commodity Murabaha bank facility from Dukhan Bank, marking another major milestone in its growth journey.

The new facility builds on the strategic financing partnership previously established between Meeza and Dukhan Bank and will support the next phase of Meeza's Data Center expansion plan.

The commodity Murabaha facility will support the development of Meeza's , which are expected to add about 44MW capacity to its portfolio, it stated.

The additional funding will enable Meeza to accelerate the delivery of new data centre capacity across its growing portfolio, including the continued development of M-Vault 6, M-Vault 7 and M-Vault 8 data centres in Qatar .

These projects form part of Meeza's wider plan to significantly increase its data centre's capacity and strengthen Qatar's position as a regional hub for digital infrastructure, cloud services, cybersecurity and AI.

Together, these new data centres are expected to deliver approximately 44MW of additional capacity, marking a major expansion of Meeza's digital infrastructure and supporting its long-term strategy to more than triple its current data centre capacity to over 60MW.

The long-term facility was structured under sharia-compliant Commodity Murabaha principles and on similar terms and conditions to the existing facility, underscoring Dukhan Bank's continued confidence in Meeza's vision, operational excellence and sustainable growth strategy.

The funding will further enhance Meeza's ability to meet growing demand from Hyperscalers, enterprise clients and Government entities, while supporting the development of advanced, secure and scalable digital infrastructure in Qatar.

On the key finance facility, CEO Mohamed Ali Al Ghaithani said: "Securing this additional QAR1.6 billion facility from Dukhan Bank represents a major strategic milestone for Meeza. It provides us with the financial strength and flexibility to fund the next phase of our ambitious Data Center expansion plan."

The financing will support the company's plan to deliver significant Data Center capacity expansions in Qatar, increasing the company's capacity to over 60MW, he noted.

Through strategic investment in advanced technology infrastructure and the delivery of secure, innovative ICT services, this partnership between Meeza and Dukhan Bank plays a key role in advancing Qatar National Vision 2030 and accelerating the country's digital economy,

"As demand for Cloud, Cybersecurity, Artificial Intelligence and advanced Infrastructure services continues to grow, Meeza remains focused on expanding high-quality, resilient and future-ready capacity for our clients," he added.

Dukhan Bank's Acting Group CEO Ahmed Hashem said it was pleased to continue supporting Meeza's strategic expansion and its role in advancing Qatar's digital infrastructure.

"This additional facility reflects our confidence in Meeza's long-term growth strategy and the strength of its business model," he added.-TradeArabia News Service