Abu Dhabi-based digital infrastructure specialist Zero Two has secured a co-controlling interest in Singapore’s Evolution Data Centres, marking its entry into Southeast Asia, the Abu Dhabi Media Office confirmed on Tuesday.
Transaction Overview
The investment will provide long-term financing to accelerate the creation of hyperscale-ready data centres in major Southeast Asian markets.
The financial terms, including the stake size, were not disclosed.
Under the agreement, ADQ-backed Zero Two will share control with Warburg Pincus, which became a shareholder in Evolution in 2022 via a joint venture.
Evolution, a sustainable operator, has since extended its footprint into Thailand, the Philippines, and Vietnam, with all current and planned centres to run on renewable energy under Power Purchase Agreements.
Andrew Fitzpatrick, Principal at Warburg Pincus, said demand for large-scale, modern data centre capacity is rising rapidly across Southeast Asia’s underserved markets, driven by cloud and AI services. He noted that Evolution’s operational strengths, bolstered by investor and partner backing, place it among the region’s most prominent sustainable operators.
The move aligns with a wider push by UAE companies to access growth markets in Asia, diversify income streams, and tap into expanding digital service demand, while strengthening economic relationships outside the Gulf.
Southeast Asia’s fast-growing economies and shortage of advanced data infrastructure make it a prime target for investment in scalable, efficient facilities.
Crucial Quote
“Evolution’s strong market positioning and leading execution capabilities make it a compelling fit for Zero Two’s long-term capital deployment strategy,” said Ahmed Al Hameli, CEO of Zero Two.
Big Number
Zero Two’s current portfolio in Abu Dhabi exceeds 550 MW of gross data centre capacity.
Sector Insight
The Southeast Asian data centre market consists of 513 sites managed by 162 companies, with Facebook’s Tanjong Kling campus in Singapore—at 120 MW—being the largest.
Additional UAE Investments in Data Centres
EDGNEX Data Centres by DAMAC reached an agreement in March to purchase Nordic facilities as part of its global strategy. The firm operates across the Middle East, Asia, and Europe, and in January announced a USD 20 billion plan for US expansion.
In December, EDGNEX purchased land in Madrid to develop a 22,000-square-metre, 40 MW facility scheduled for 2026. Located in Vicálvaro, it will cater to hyperscalers and enterprise clients.
Earlier that month, EDGNEX partnered with Greece’s PPC Group to launch the USD 157 million Data In Scale venture, which will deliver a new data centre in Spata, Athens.
