SAR675M Fund to Build Two AI-Ready Data Centers in Saudi

Two firms, Axelerated Solutions and BIM Capital, have agreed to establish a private, Shariah-compliant investment fund in Saudi Arabia to build and operate two data centers. The agreement was announced on 2 September 2026, with the fund carrying a target size of SAR 675 million.

The closed-ended fund will be managed by BIM Capital and is dedicated to the development, ownership, and operation of the two facilities. Both centers are described as AI-ready and Tier III-compliant, each starting with 10 MW of capacity and expandable to 20 MW.

Roles and structure

Under the agreement, the company's responsibilities span investment participation, design, construction, facilities management, and operations. The financial impact of the fund is expected to play out over a 10-year period, with the possibility of extending it by two additional one-year terms.

Data centers form the backbone of cloud computing, digital services, and increasingly artificial intelligence workloads. For residents and businesses across the Kingdom, added local capacity of this kind can support faster, more reliable digital services and reflects growing investment in the technology infrastructure that underpins everyday online life.

The project's design, with room to double capacity at each site, signals that the operators anticipate rising demand for computing power in the years ahead. The Shariah-compliant, closed-ended structure also opens participation to investors seeking exposure to the Kingdom's expanding digital economy.

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