Dubai’s Damac Group explores $I bln in tech investments in Germany

Billionaire Hussain Sajwani’s Damac Group is exploring investment opportunities worth €1 billion in Germany as part of the Dubai firm’s expansion into technology.

Damac is interested in data centers and tech-related investments and is in the process of identifying partners, according to a statement. “I see a lot of opportunity and potential, especially in Eastern Germany that I would like to explore and learn more,”
Chairman Sajwani said.

Privately-held Damac, which focuses primarily on real estate in Dubai, has been diversifying into sectors such as technology and fashion. The company in May purchased De Grisogono SA, a Swiss luxury jeweler, after buying Italian fashion group Roberto Cavalli SpA in 2019.

It set up Edgnex in 2021, a digital infrastructure provider to invest in data centers.

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