The move comes as part of Damac’s broader strategy to expand its presence in the country, particularly through a high-profile partnership with Greece’s state-owned Public Power Corporation (PPC) to develop cutting-edge data infrastructure.
Velora was incorporated by the UK-based CAIO Holding, a company fully owned by Sajwani. The board of directors is composed entirely of individuals based in the United Arab Emirates, and the company is chaired by Anastasia Kozyraki, a senior executive at Damac Capital. Kozyraki is considered a key figure in spearheading the group’s expansion into the Greek market.
The establishment of Velora follows the creation, six months earlier, of Radiant Data Centre S.A.—the official operating entity of the Damac–PPC joint venture. Located in Kryoneri, just outside Athens, Radiant has been tasked with designing, constructing, and operating a next-generation data center spanning 30,000 square meters. The facility aims to serve as a critical piece of digital infrastructure in the region.
Both Velora and Radiant fall under the umbrella of the Data In Scale (DIS) consortium, a joint initiative in which Damac holds a 55 percent majority stake and PPC owns the remaining 45 percent. The total initial investment in the project amounts to €150 million, signaling a significant commitment by Sajwani to establish a long-term presence in Greece’s growing technology and energy sectors.
