Israel: Goldacre Signs JV with Levinstein To Develop Data Center in Israel and Launch Middle Eastern Business

Dec 06, 2022 | Posted by Abdul-Rahman Oladimeji

Goldacre and Levingstein Group have entered into a joint venture to launch a data center business for the Middle East data center market. The two companies secured land in the city of Netanya, Israel, to develop their first data center. NED Data Centers, a subsidiary of Goldacre’s parent company, the Noe Group, will operate the data center.

Goldacre is the venture capital unit of Noe, a £2.5bn ($3.04bn) investment house based in London. Goldacre owns up to 30% stake in Kao Data. The data center’s first phase is expected to start in the Summer of 2023. 16MW of capacity across 145,000 square feet (13,500 square meters). According to Goldacre, the data center will have room for expansion. The facility is developed for wholesale clients and hyperscalers. It also has redundant power feeds. Report has it that a high-tech 377,000 square feet (35,000 square meters) science and research development campus might be developed with the data center.

The founder of Goldacre, David Bloom, said: “This is a huge moment for both Goldacre and NED, having signed the deal on this site which is set to transform the Israeli data center industry further and ensure we are a key part of this rapidly growing industry. It was clear to see the potential for innovation in Netanya, and we are pleased to work with our latest data center platform NED and leading Israeli company, Levinstein, to bring our knowledge gained through our work at Kao data to develop the sector further.”