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Meeza secures QAR 1.6bn loan from Dukhan Bank to fund 44MW Qatar data center expansion

By: IDCNOVARegion: Middle East
Qatari data center developer Meeza has signed a QAR 1.6 billion ($438 million) credit agreement with Dukhan Bank to finance the construction of three new data centers with a combined capacity of 44MW. The deal marks the second financing arrangement between the two Qatari entities, following an initial QAR 800 million ($219.3 million) facility secured in August 2025.

The new facilities, named M-VAULT 6, M-VAULT 7, and M-VAULT 8, will be built in Qatar, with at least two of the projects having been announced last year. No details were disclosed regarding the specific locations of the new builds or the individual cost of each project. Meeza has been approached for further comment.

Both credit facilities are structured as Commodity Murabaha agreements, a Sharia-compliant financing framework in which the bank purchases a commodity from the company and sells it back on an installment basis with an agreed-upon fee. This structure enables Dukhan Bank to extend credit without charging interest, which is prohibited under Islamic financial law.

“Securing this additional QR1.6bn facility from Dukhan Bank represents a major strategic milestone for MEEZA,” said Mohamed Ali al-Ghaithani, CEO of Meeza. “This financing supports our plan to deliver one of the most significant data center capacity expansions in Qatar, increasing our capacity to over 60 megawatts and reinforcing MEEZA’s role as a key enabler of the country’s digital transformation.”

The funding is central to Meeza's broader growth strategy, which has gained momentum over the past year. In July 2026, the company announced the early completion of a QAR 350 million ($96 million) deal with an unnamed global hyperscaler to expand an existing data center in the Gulf state by 4MW. That agreement followed a similar contract in October 2025 with another undisclosed hyperscaler to deliver 6MW of additional capacity for QAR 750 million ($205 million).

Headquartered in Doha, Meeza currently operates five data centers across Qatar. The country remains a relatively small player in the regional data center market, with Meeza accounting for five of the 11 facilities listed in Qatar by DataCenterMap. The latest financing underscores a broader trend of Gulf states investing heavily in digital infrastructure to support economic diversification and national digital transformation agendas.