In a significant stride for Jordan's digital transformation landscape, the Jordan Capital and Investment Fund (JCIF) has announced its acquisition of a substantial stake in the Aqaba Digital City Group.

This venture stands as a beacon in Jordan's drive for enhancing digital transformation services, answering a rising domestic demand.

Hosting the foremost data center in Jordan, Aqaba Digital City Group boasts a capacity of 6 megawatts. This places it among the elite neutral data centers across the Middle East and North Africa (MENA) region.

JCIF, a consortium underpinned by Jordanian banks, is a torchbearer in offering an exhaustive suite of digital amenities. Their portfolio encompasses a neutral maritime submarine cable launching station, a digital cloud services platform, the Aqaba Internet Exchange Point (AqabaIX), state-of-the-art fiber optic Internet networks, international communication amenities, and satellite services.

This groundbreaking collaboration was solidified on Thursday, with an official agreement signing attended by Minister of Investment, Kholoud Saqqaf, Chairman Nayef Fayez of the Aqaba Special Economic Zone Authority, Deputy Governor Khaldoun Wishah of the Central Bank, Chairman Bassam Sarhan of the Telecommunications Regulatory Authority, and a delegation of eminent figures from the private sector.

In a poignant address, Nayef Fayez, Chairman of the Aqaba Special Economic Zone Authority, delineated Aqaba's stature as Jordan's premier digital city.

He accentuated Aqaba's pivotal role in amplifying Jordan's global imprint across diverse sectors. Further, he underscored the authority's relentless endeavors in facilitating investors and capacitating youth through specialized technical programs, readying them for both domestic and international markets.

Kholoud Saqqaf, Investment Minister, elaborated on the ministry's vision of positioning Jordan as a compelling investment nexus through synergies between public and private entities. This aligns with the ministry's zeal to magnetize investors towards harnessing the vast potential of the Jordanian market.

Reflecting on the landmark agreement, Hani Qadi, Chairman of JCIF's Board of Directors, depicted it as a cornerstone for the fund post its 2022 inception. He emphasized the fund's strategic alignment in bolstering the Jordanian economy through job creation, business onboarding, and technological advancements.

Iyad Abu Kharma, the visionary behind Aqaba Digital City Group, cited the city's achievements since its inception. He opined that the alliance with JCIF would infuse essential capital for growth, expand resource accessibility, and pave avenues for new market forays.

Fares Sharaf, CEO of the JCIF, expressed confidence in the project's potential to satiate the burgeoning appetite for contemporary digital services in Jordan and the broader MENA region. He hailed the project's strategic value in catalyzing digital transformations and pioneering advanced centers for corporate entities.

A beacon in Jordan's private sector, JCIF, underwritten by 16 commercial and Islamic banks, stands as Jordan's most substantial investment fund, backed by a staggering 275 million Jordanian dinars ($388 million).

The fund's ethos revolves around investing in burgeoning companies with a horizon for growth and expansion, consequently fueling job opportunities and economic upliftment across Jordan. It distinctly sets its sights on pivotal sectors like food, health security, manufacturing, and ICT, aiming to tap into Jordan's latent potential.

Tracing back to 2017, Iyad Abu Kharma established Aqaba Digital City as a regional communication nexus with avant-garde IT infrastructure and cloud services. Its credentials extend to hosting the Blue Raman submarine cable, connecting Asia and Europe, which positions Aqaba Digital City to proffer advanced cloud services, international gateway amenities, and a slew of other tech-driven solutions, catering to Jordan and the wider region.

Strategically nestled within Aqaba, the city's data centers serve as a bedrock for business continuity and disaster recovery, fortifying the resilience of Jordan's banking sector through its secure infrastructural fabric.