Abu Dhabi-based digital infrastructure platform Zero Two has moved into Southeast Asia by acquiring a co-controlling interest in Singapore-headquartered Evolution Data Centres, the Abu Dhabi Media Office confirmed on Tuesday.
Investment Overview
The partnership will provide long-term funding to accelerate the rollout of hyperscale-ready facilities in key Southeast Asian markets.
The transaction value and size of the shareholding remain undisclosed.
Under the deal, ADQ-backed Zero Two will hold joint control alongside New York investment firm Warburg Pincus, which became a shareholder in Evolution in 2022 via a joint venture.
Evolution—recognised for its sustainable operations—has since expanded into Thailand, the Philippines, and Vietnam, with all current and planned facilities to operate fully on renewable energy through Power Purchase Agreements.
Warburg Pincus Principal Andrew Fitzpatrick commented that Southeast Asia’s underserved markets are poised for strong growth in large-scale, modern data centre capacity, fuelled by rising demand for cloud and AI services. He emphasised that Evolution’s operational expertise, supported by major investors and regional partners, positions it as a frontrunner in sustainable infrastructure across the region.
The move reflects a broader strategy among UAE companies to capture opportunities in high-growth Asian economies, diversify income streams, and enhance trade relationships beyond the GCC.
Rapid digitalisation across Southeast Asia, combined with insufficient data infrastructure, creates substantial investment potential for scalable, energy-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 website states the company has already deployed over 550 MW of gross data centre capacity in Abu Dhabi.
Industry Landscape
Southeast Asia’s data centre ecosystem comprises 513 operational facilities run by 162 providers, with Facebook’s 120 MW Tanjong Kling site in Singapore standing as the largest.
Other UAE Moves in the Secto
In March, EDGNEX Data Centres by DAMAC completed negotiations to purchase Nordic facilities as part of its global expansion plan. The subsidiary develops and runs facilities across the Middle East, Asia, and Europe, and in January announced a USD 20 billion US expansion initiative.
In December, EDGNEX acquired a site in Madrid for a 22,000-square-metre, 40 MW data centre scheduled for completion in 2026, located close to Madrid International Airport and the Internet Exchange.
Earlier that month, EDGNEX partnered with Greece’s PPC Group to form the USD 157 million Data In Scale joint venture in Spata, Athens.
