Saudi-listed Al Moammar Information Systems (MIS) announced on Wednesday that it has received its first Development Commencement Notice from Saudi Data Centres Fund 1 to expand the capacity of existing data centres under a 112 megawatts (MW) framework agreement signed in July 2025.

In a stock exchange filing, MIS confirmed that work will begin with an initial 72 MW expansion valued at approximately 3 billion Saudi riyals ($800 million). The company stated that it anticipates the financial impact of the first 24 MW to appear starting in the first quarter of 2026 and continuing through the first quarter of 2027. It added that information regarding the remaining 48 MW will be released within the next six months.

According to the July announcement, the contract period is set at 36 calendar months.

Saudi Data Centres Fund 1 is represented by Saudi Fransi Capital, which serves as the fund manager, underscoring the growing role of local investment vehicles in building national digital infrastructure.