Investing in the Future
Greece is poised to establish itself as a leading player in the technology and artificial intelligence sectors with the development of two new data centers by French firm Data4. On November 19, Cointelegraph attended the ground-breaking ceremony for the new facility, located just outside Athens, the Greek capital.
A Key Hub for Connectivity
The event marks Data4’s expansion into the Greek market, which is positioning itself as a key hub for connectivity and data hosting in the Mediterranean region. The development of these two new data centers will play a crucial role in supporting Greece’s ambition to be a regional leader in technology and IT sectors.
Data4’s Investment in Greece
Data4’s new campus in Paiania, East Attica is expected to support the development of Greece’s digital infrastructure. This investment is part of Data4’s expansion plans across Europe, with an estimated 7 billion euros targeted for growth by 2030.
Government Support
Greek Prime Minister Kyriakos Mitsotakis and other government officials attended the ceremony. During his speech, Mitsotakis highlighted the potential of this investment to boost the local economy, improve Greece’s global image, and create opportunities for skilled technical workers.
Construction Timeline
The first data center is currently under construction and is expected to be completed within two years. The second building will begin depending on market absorption and acceleration in Greece, according to Olivier Micheli, CEO of Data4.
"The plan is by the end of 2026, [or] January 2027, the first data center will be ready," Micheli said during an interview with Cointelegraph.
Comparison to Other European Markets
When asked about the Greek market compared to other European countries where Data4 operates, Michelis replied that it is "pretty similar" with local national firms needing to host their data. He added:
"The government [here] is very active, [it] has a program transition to the cloud and digital to facilitate the lives of the citizens. The government is already a big consumer. As well, you have all the tech giants that are willing to support AI and cloud development in the country."
European Data Center Development
The event came just two months after the initial announcement from Data4 about its investment intentions in Greece, as Cointelegraph reported in September.
Micheli said the Greek investment will amount to approximately "300 million euros for the first two data centers." He added that if they work well with the community and build a third data center here, it would be around 450-500 million euros in total.
Data Center Investment Across Europe
Data4 is not alone in its expansion plans across Europe. Multiple firms are investing heavily in data centers and AI-related initiatives across the continent.
Other major players in the tech space, including Microsoft, have invested significantly in data centers and AI development across Europe.
In February, Microsoft announced a $2 billion investment in Spain to develop AI data centers. Additionally, Microsoft initiated an investment project in Greece similar to Data4’s, which was announced in 2020 and recently gained ministerial approval.
Regional Competition
The competition for regional leadership in technology and IT sectors is intense across Europe. However, with its favorable business environment, skilled workforce, and government support, Greece has a strong chance of becoming a leading player in this field.
Conclusion
Greece’s push to become a regional tech hub will undoubtedly create opportunities for local businesses, attract foreign investment, and contribute significantly to the country’s economic growth. With Data4’s expansion plans and government support, the future looks promising for Greece’s technology sector.
