About Khazna
Khazna is a Dubai-headquartered operator of wholesale data centers across the UAE. It designs, builds, and manages Tier III-certified facilities in locations including Abu Dhabi, Dubai, and Sharjah, delivering carrier-neutral colocation, cloud connectivity, and managed hosting services. The company supports hyperscale deployments with capacities exceeding 100 MW, emphasizing seismic-resistant structures, advanced cooling systems, and 100% uptime SLAs. Khazna serves telecom operators, financial institutions, and government entities, expanding to Saudi Arabia with a 30 MW facility launched in 2023.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Services
Valuation
$5.5B (Feb 2025)
Khazna Valuation
Khazna is currently valued at $5.5B, based on its secondary sale in February 2025.
The $2.2B round was led by G42, with participation from MGX and Silver Lake.
Khazna valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2025 | Secondary | $5.5B |
Khazna Funding History
Khazna has 1 recorded secondary share sale and no primary funding rounds.
Khazna funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2025 | Secondary | G42 (lead); MGX; Silver Lake | $2.2B | $5.5B | Khazna Data Centers is the largest wholesale data center provider in the United Arab Emirates, specializing in building and leasing hyperscale data center capacity to major cloud and AI companies. The company was originally formed in 2012 as a joint venture between Abu Dhabi sovereign wealth fund Mubadala and Dubai telecommunications company Du. In 2020, artificial intelligence conglomerate G42 acquired a controlling 60% stake in the company. In February 2025, G42 and minority investors MGX (Abu Dhabi AI fund) and Silver Lake (US private equity firm) collectively acquired the remaining 40% stake from UAE telecommunications group e& for $2.2 billion, implying a total company valuation of $5.5 billion. This transaction represented an asset monetization strategy for e&, which generated a capital profit of $1.4 billion before taxes and royalties. Following the transaction, G42 remains the majority shareholder while MGX and Silver Lake became minority stakeholders. Khazna operates approximately 300 megawatts of capacity and has established itself as a provider capable of building and deploying data center facilities rapidly at scale to meet the needs of hyperscalers including Amazon Web Services, Microsoft, and Oracle. The company is expanding its regional footprint with plans to develop data centers in Kenya, Saudi Arabia, Turkey, and parts of Europe, while also providing wholesale capacity in the UAE that is increasingly optimized for artificial intelligence and advanced computing workloads. |
Who has invested in Khazna?
3 investors have backed Khazna across its funding rounds, including Silver Lake, MGX and G42.
Lead investors include G42.
Khazna Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Feb 2025 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKhazna Competitors
Khazna competitors include listed companies like Wangsu, Core Scientific, Frontdoor and Rigetti, and private ones like QuintoAndar and Lianjia.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $695M | $138M | $5.5B | 6.0x | ||
| Publicly listed | $319M | ($211M) | $5.5B | 13.9x | ||
| Publicly listed | $2.1B | $484M | $5.5B | 2.8x | ||
| Publicly listed | $7M | ($225M) | $5.3B | 265.6x | ||
| Private | - | - | $5.1B | - | ||
| Private | - | - | $6B | - |
Khazna Public Comps
Khazna is still privately-owned, but its public comps include Wangsu, Core Scientific, Frontdoor, Rigetti, FirstService, Big Shopping Centers, Nextdc, Balder, GDS Holdings and RBR Desenvolvimento.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $695M | $138M | 6.4x | 6.0x | 32.6x | 30.5x | |||
| $319M | ($211M) | 25.2x | 13.9x | (38.1x) | 50.7x | |||
| $2.1B | $484M | 2.9x | 2.8x | 12.5x | 10.4x | |||
| $7M | ($225M) | 698.5x | 265.6x | (22.0x) | (69.4x) | |||
| $5.5B | $525M | 1.4x | 1.4x | 14.7x | 13.3x | |||
| $945M | - | 15.0x | - | - | - | |||
| $353M | $138M | 21.9x | 19.2x | 56.0x | 38.3x | |||
| $1.4B | $1.4B | 15.8x | 15.0x | 16.1x | 21.4x | |||
This data is available for Pro users. Sign up to see all Khazna competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Khazna
| When was Khazna founded? | Khazna was founded in 2012. |
| Where is Khazna headquartered? | Khazna is headquartered in Dubai, UAE. |
| Is Khazna publicly listed? | No, Khazna is a private, VC-backed company. |
| What is Khazna's valuation? | Khazna was last valued at $5.5B in its secondary sale in February 2025. |
| Who are Khazna's investors? | Khazna's investors include MGX, Silver Lake and G42. |
| Which companies are comparable to Khazna? | Companies comparable to Khazna include Wangsu, Core Scientific, Frontdoor, Rigetti, QuintoAndar and Lianjia. |
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