By Hamza Faisal

Pure Data Centres Group has secured a $780 million financing facility that can expand to about $1.9 billion, giving the Oaktree-backed developer fresh firepower to build cloud and AI data centres across Europe and the Middle East. The London-based company, known as Pure DC, announced the deal on November 4, 2026.

The new Platform Growth Facility comes with a $1.1 billion accordion option, which would lift the total framework to approximately $1.9 billion if fully exercised. Three new lenders — Citigroup Global Markets, First Abu Dhabi Bank and Infranity — join existing lenders ABN AMRO, Allianz Global Investors and SMBC in backing the facility. Pure DC said the money will support its development pipeline and the acquisition of future sites, while interim chief executive Gary Wojtaszek told Bloomberg the proceeds are earmarked for land, energy and general corporate purposes.

Power first: land and energy before buildings

Pure DC describes its approach as power-first. Rather than chasing buildings and hoping the electricity follows, the company secures powered sites first, then builds large-scale AI training campuses connected to smaller inference data centres. It builds and operates facilities across Europe, the Middle East and Asia for some of the world's largest hyperscalers, with more than 500 megawatts of capacity live or under development.

That footprint already spans London, Abu Dhabi, Madrid, Dublin and Jakarta. In a market where grid connections and planning permission have become the scarcest resources, a developer that can offer customers ready power has a clear advantage — and lenders appear willing to pay for it.

A $6.2 billion year of fundraising

The new facility caps a remarkable twelve months for Pure DC. The company said it has now secured more than $6.2 billion in financing over the past year. In May it announced $2.7 billion of financing, including a $2.15 billion facility secured against its Dublin and Amsterdam campuses and an increase in corporate-level financing to $550 million. In July it secured a further €1.3 billion of committed senior debt for the first phase of its Seinäjoki AI campus in Finland.

The pace of that fundraising underlines how capital-intensive the AI infrastructure race has become. Training a single frontier model can require tens of megawatts of computing power, and the campuses built to house that capacity cost billions before a single customer moves in.

What comes next

For Pure DC, the immediate question is where the new money goes first. The facility is designed to fund both the existing pipeline and new site acquisitions, and the Middle East — where the company already operates in Abu Dhabi and has now added First Abu Dhabi Bank as a lender — looks like an obvious focus. The terms of the accordion expansion have not been disclosed, so the $1.9 billion figure is a framework ceiling rather than cash already drawn. Even so, the $780 million already secured ranks among the largest UK debt deals of its kind, and it signals that lenders still see the data centre buildout as a long-term bet, not a passing boom.