Hussain Sajwani, the founder of DAMAC Properties and a prominent UAE billionaire, announced plans to invest $20 billion in the rapidly expanding US data centre market. The announcement was made on Tuesday during an event at the Palm Beach, Florida residence of US President-elect Donald Trump. A spokesperson for DAMAC confirmed the news to media agency later that evening.
“This is an exhilarating step forward for us,” said Sajwani. “Our entry into the US data centre market marks a pivotal milestone in our mission to create a global digital infrastructure that will empower businesses now and into the future.”
Sajwani highlighted DAMAC’s dual expertise in real estate and data centres, stating, “We aim to deliver top-tier infrastructure to support the growth of cloud computing and artificial intelligence, further positioning the US as a leader in the global technology and data ecosystem.”
During a formal event at the Mar-a-Lago estate, President-elect Trump invited Sajwani to the podium to elaborate on the investment. “Our plan is to invest $20 billion, with potential for more as market opportunities unfold,” Sajwani stated.
The collaboration underscores the growing UAE-US business ties, with Sajwani expressing optimism about future ventures in the US.
Days prior to the announcement, Sajwani posted a photo on Instagram featuring himself alongside Donald Trump and Elon Musk at Mar-a-Lago, celebrating the New Year. The caption read: “Starting the New Year with President Trump and Elon Musk at Mar-a-Lago,” further highlighting his association with influential figures in business and politics.
DAMAC’s Expanding Global Footprint
DAMAC is renowned for its global presence, with operations in over 20 countries. The company has successfully delivered more than 45,000 luxury residential units and has an additional 45,000 projects in development.
In addition to its real estate ventures, DAMAC has established a significant presence in the data centre market, with investments spanning ten countries, including regions in the Middle East, Asia, and Europe. Notably, the company owns the Trump-branded golf course in Dubai, which opened in 2017.
The UAE continues to assert its position as a leading investor in global markets. According to Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), the combined value of Emirati investments abroad—spanning both government and private sectors—reached an impressive $2.5 trillion by early 2024.
These investments reflect the UAE’s commitment to fostering economic growth and solidifying its role as a key player in international markets. The US and other Western countries remain top destinations for Emirati investors, further strengthening economic ties between the regions.
Published On: 7 Jan 2025
Source: https://www.khaleejtimes.com/business/uae-billionaire-sajwani-to-invest-20-billion-in-us-data-centres-trump-says
