MEEZA, a top IT services company in Qatar, has secured a commodity Murabaha credit facility worth 800 million Qatari riyals (US$219 million) from Dukhan Bank.
The funding will be used to expand MEEZA’s data center capacity by 44 megawatts.
In the first phase of the project, MEEZA will add 24MW of capacity, with 6MW specifically set aside for artificial intelligence (AI) services. This highlights Qatar’s goal of becoming a stronger player in the Middle East technology market.
Dedicating capacity to AI matches both global and regional trends, as demand for data centers is rising quickly with the growth of AI.
Worldwide, data centers are expected to use almost 945 terawatt hours of electricity by 2030, mainly due to AI and digital transformation.
Qatar’s IT services market is expected to grow to $1.2 billion by 2029, while AI-related investments are projected to reach $2.5 billion.
This growth supports Qatar’s National Digital Agenda 2030, which aims to add $11 billion to the non-oil economy and create 26,000 new ICT jobs.
With 99% internet penetration and SMEs making up more than 96% of businesses, Qatar has a strong local market and is also positioning itself as a regional hub for AI.
MEEZA is using a Sharia-compliant Murabaha financing model, showing the increasing importance of Islamic banking in funding technology projects.
This type of financing helps make large, capital-heavy projects possible and supports economic diversification in the Gulf region.
In Qatar, the managed services market is expected to double by 2030, boosted by such investments.
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