UAE investor commits $500M to EdgePoint - Mobile World Live

UAE investor commits $500M to EdgePoint

09 JUL 2021

A subsidiary of the Abu Dhabi Investment Authority (ADIA) acquired a minority interest and committed to investing $500 million in EdgePoint Infrastructure, a Singapore-based venture which is aggressively expanding in Southeast Asia.

The sovereign wealth fund issued a statement in which it explained its investment will back the tower company’s growth, which is expected to include acquisitions and the development of new sites.

Khadem Al Remeithi, executive director of real estate for ADIA’s Infrastructure Department, said: “We believe this platform can play an important role in increasing both the capacity and coverage of digital services in the region”, particularly in Indonesia where regulatory changes are encouraging international investors to explore opportunities.

The tower company was established by former edotco CEO Suresh Sidhu and global investment company Digital Colony in November 2020 and acquired more than 10,000 sites.

In late May, EdgePoint Infrastructure purchased Asiaspace’s tower assets in Malaysia and in recent months accumulated a majority stake in Indonesian tower company Centratama, which manages about 3,300 towers.

EdgePoint Infrastructure’s Indonesian subsidiary closed a $750 million deal with Indosat Ooredoo for more than 4,200 towers in March.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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