Dubai-headquartered Damac Properties is ramping up its investment in digital infrastructure with plans to build data centres in multiple European and Asian countries, said Founder and Chairman Hussain Sajwani.

The company owns lands in Greece, Spain, Turkey, Indonesia and Malaysia to establish data centres, he told CNBC Arabia news channel.

Damac is currently building more than 10 data centres, with each megawatt of data centre capacity requiring an investment of $10 million, the report said.

Separately, Sajwani said that the demand for luxury properties in Dubai is increasing due to the growth of wealthy European buyers.

He said luxury apartments at Damac are about 30 percent cheaper than their European counterparts.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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