USD68m project financing of the development and operation of a new data centre in King Salman Energy Park, Dammam, Saudi Arabia. The 50MW data centre is the inaugural project of a portfolio of hyperscale grade data centres being developed in Saudi Arabia by Quantum Switch Tamasuk (QST), a joint venture between Saudi-headquartered Tamasuk Holding Company and British data centre developer Quantum Switch. It is reported that QST will develop six data centres across Saudi Arabia by 2026 in order to attract hyperscale cloud service providers, media, gaming and content delivery platforms to set up operations in the Kingdom. The project is being built in King Salman Energy Park (SPARK), an industrial complex in Dammam, Saudi Arabia and is expected to be operational in Q4 2022. This project marks the first limited recourse data centre financing in Saudi Arabia, a significant milestone in the Kingdom’s vision to position itself as a digitalization hub in the region