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Cyta’s RedMax Acquisition Positions Cyprus For A Bigger Role In Regional Data Infrastructure

by THEFUTURE.TEAM

July 7, 2026

Cyta has signed an agreement to acquire the RedMax Data Centre in the Latsia Industrial Area, marking a significant expansion of its digital infrastructure and reinforcing Cyprus’ ambitions to strengthen its position as a regional data hub.

The acquisition includes a phased expansion and upgrade of the facility. The first phase is expected to become operational in early 2027, with the completed project set to become the largest privately owned data centre in Cyprus.

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Expanding Digital Infrastructure

The investment significantly expands Cyta’s data centre portfolio, increasing its capacity to provide cloud services and equipment colocation for businesses, public sector organisations and international institutions.

According to Cyta, the upgraded facility will offer secure, high-availability infrastructure built to international standards, incorporating advanced physical security and cybersecurity systems, ISO certifications and renewable energy sources to meet part of its electricity demand.

“The investment is the next significant step in the development of Cyta Data Centers,” the company said, adding that the project will strengthen its ability to deliver cloud and hosting services at a larger scale.

Cyta also said the investment, together with its existing data centres and international submarine cable network, will further enhance Cyprus’ role as a regional digital hub while supporting the country’s technological and economic development.

Part Of A Global Data Centre Expansion

The investment comes as spending on data centres accelerates worldwide, fuelled by growing demand for cloud computing and artificial intelligence infrastructure.

Technology research firm Omdia estimates cumulative global investment in data centres will approach $1.6 trillion by 2030, while leading technology companies are expected to spend more than $600 billion on AI infrastructure in 2026 alone.

McKinsey & Company projects that global investment in data centres will reach $6.7 trillion by 2030, with the majority directed toward AI-ready facilities capable of supporting increasingly complex computing workloads.

Strengthening Cyprus’ Digital Position

Against that backdrop, Cyta’s investment reflects the growing strategic importance of digital infrastructure as countries compete to attract cloud services, AI workloads and international data storage.

For Cyprus, the project represents more than an expansion of capacity. By combining a larger data centre footprint with its international submarine cable network, Cyta is strengthening the island’s position as a digital gateway connecting Europe, the Middle East and neighbouring regions.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.