Turkcell Secures €100 Million Investment to Boost Data Center Business Expansion

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Turkcell (NYSE: TKC) (BIST: TCELL) announced that its subsidiary, TDC Veri Hizmetleri (TDC), has secured EUR100 million in murabaha financing through a strategic agreement with Emirates NBD Bank, a leading banking group in the Middle East and Turkiye (MENAT) region. The five-year financing agreement is intended to empower Turkcell Group’s data center investments via TDC, accelerate its digital infrastructure initiatives, and align with its long-term strategic growth objectives.

Strategic Financing to Drive Data Center Expansion

The financing agreement, which is based on interest-free murabaha principles, marks a significant milestone for TDC as it enhances its position in the data center and cloud business. Turkcell’s strategy focuses on high-capacity, eco-friendly data centers to meet the growing demands of cloud computing, AI, and big data. Aligning with national digitalization goals, Turkcell supports local businesses while attracting global customers seeking secure and scalable digital solutions.

“The financing secured with Emirates NBD is a testament to the confidence that global financial institutions have in Turkcell. It further affirms that our strategic commitment to driving future growth and delivering value to our investors is steering us in the right direction. We are proud to attract international investment into our data center operations. And we believe these investments will pave the way for more strategic partnerships and future investments, unlocking new opportunities for growth and collaboration in the digital landscape,” said Kamil Kalyon, Chief Financial Officer at Turkcell.

Diversifying Financing Sources and Strengthening Gulf Relations

Kamil Kalyon continued, “This murabaha financing structure, adhering to Islamic finance principles, is expected to open new avenues for collaboration in the Gulf region. By diversifying our financing portfolio, TDC can mitigate risks while exploring further strategic partnerships in key markets. This agreement with Emirates NBD underscores Turkcell’s commitment to expand its digital infrastructure capabilities while reinforcing its role as a trusted partner in the global finance community.”

Pri McNair, Group Co-Head of Corporate Coverage at Emirates NBD, said: "Emirates NBD's EUR100 million Murabaha financing deal with Turkcell is part of a long-term strategy to support growth-oriented companies investing in digital transformation. This deal reflects our confidence in Turkcell and we’re proud to support the company’s data center expansion, consolidating its position as a telecom leader. This transaction further reinforces Emirates NBD’s role as a trusted financial partner delivering tailored solutions that drive sustainable growth.”

ABOUT TURKCELL:

Turkcell is a technology and telecommunications company headquartered in Türkiye, offering a unique portfolio of voice, data and IPTV services over its mobile and fixed networks along with digital consumer, enterprise and techfin services. Turkcell Group operates in three countries: Türkiye, Belarus and Northern Cyprus. Listed on both the NYSE and BIST since July 2000, Turkcell remains the only dual-listed company on these exchanges. Read more at www.turkcell.com.tr

ABOUT EMIRATES NBD:

Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion.

Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.

Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE’s main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE’s Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.