UAE, Greece sign digital infrastructure deal

The UAE and Greece are expanding cooperation in the digital infrastructure sector with a focus on data centre projects.

The two sides have signed an MoU aimed at developing data centres in Greece with a total capacity of 500 megawatts.

It will help strengthen relationships between public and private organisations in the two countries and encourage the exchange of expertise. The agreement also proposes the introduction of incentive schemes.

The MoU was signed by Mohamed Hassan Al Suwaidi, UAE Minister of Investment, and Dimitris Papastergiou, Minister of Digital Governance of Greece.

The data centre market in Greece has witnessed significant growth in recent years, largely driven by the country's Digital Transformation Strategy 2020-2025.

Projections indicate that Greece's data centre market will reach $1.218 billion (AED 4.47 billion) by 2028 from $735 million (AED 2.69 billion) in 2022.

The MoU was signed against the backdrop of a growing strategic partnership between the UAE and Greece.

In 2022, the two countries announced a EUR 4 billion (AED 15.98 billion) fund to invest in the Greek economy.

There was also a notable surge in bilateral non-oil trade, with a value of nearly $572 million in 2021, reflecting a 67 per cent growth compared to the previous year.