As part of its push into defensive industries to help protect its assets from economic shocks, the Endowment and Minors’ Fund Authority, or Awqaf Abu Dhabi, has stated that it is open to investing in data centers.
Fahad Al Qassim told The National on the fringes of the Annual Investment Meeting Congress in Abu Dhabi that the approach intends to give stability to the two-year-old organization “until we can create a proper asset allocation into different sectors. In an interview, Mr. Al Qassim stated that a part of the capital of Awqaf Abu Dhabi “will have to go into” emerging technologies, like those powered by artificial intelligence.
Regardless of the state of the economy, defensive industries offer steady and predictable dividends and earnings. They typically include health care, utilities, and consumer necessities like food and personal hygiene.
In an interview, he stated, “Given that data centers will become a utility, it might be part of the energy and utilities program that we will be looking into. [as] data centers are growing globally and are increasingly becoming a utility that needs to be used by AI and blockchain.” He continued by saying that data centers would give Awqaf Abu Dhabi access to electricity and utilities, which “we need to look into because they provide very stable returns.
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