| Introduction |
Axelerated Solutions Company for Communications and Information Technology (AXS) announces signing an agreement to establish a private, closed-ended, Shariah-compliant investment fund named “BIM Capital DC-Infrastructure Fund,” to be managed by BIM Capital, for the development, ownership and operation of two data centers. The Fund has a target size of SAR 675 million. Under the agreement, the Company will participate as an investor in the Fund and undertake the project’s design, construction, facilities management and operation. |
| Date of Announcement of the Award |
2026-09-02 Corresponding to 1448-03-20 |
| Contract Subject Matter |
Signing an agreement to establish a private, closed-ended, Shariah-compliant investment fund, to be managed by BIM Capital, for the development, ownership and operation of two data centers, with the Company participating in investment, design, construction, facilities management and operation. |
| The Entity with Which the Contract was Signed |
BIM Capital |
| Date of Signing the Contract |
2026-09-02 Corresponding to 1448-03-20 |
| Contract Value |
The Fund’s target size is SAR 675 million Expandable in line with the project phases. The Company will also receive units in consideration for part of its design and construction fees and receivables. The proportions, valuation methodology and entitlement mechanism will be determined in the Fund’s terms and conditions and the relevant framework agreement, with entitlement linked to project completion milestones. |
| Contract Details |
Establishing an investment fund to develop, own and operate two Tier III data centers ready for artificial intelligence workloads, each with a capacity of 10 MW, expandable to 20 MW per center. The Company’s roles include design and construction under a fixed lump-sum engineering, procurement and construction (EPC) contract to be entered into with the Fund or the special purpose vehicle; facilities management and operation following completion of development, with operational availability of no less than 99.982%; and supporting the marketing and leasing of project capacity |
| Contract Duration |
The agreement takes effect on its signing date and terminates upon the launch of the Fund and its replacement by the Fund’s terms and conditions and the definitive agreements. If the Capital Market Authority’s approval and/or non-objection is not issued within 180 days of signing, the term may be extended by written agreement between the parties, unless either party notifies the other of its intention not to extend 30 days before expiry. |
| Financial Impact and the Relevant Period |
10 years, extendable for two additional one-year (year+year) |
| Related Parties |
- |
| Additional Information |
The Company clarifies that the launch of the Fund and the offering of its units are subject to obtaining the Capital Market Authority’s approval and/or non-objection, while the execution of the project is subject to the necessary regulatory approvals. The Company will disclose any material developments in due course. |
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