Trump announces UAE billionaire Hussain Sajwani's $20 billion Investment in US data centers

UAE billionaire Hussain Sajwani on Tuesday said the announcement at President Donald Trump's Palm Beach residence that he wants to invest $20 billion in the rapidly growing US data center sector over the course of several years.

"This is an extremely exciting moment for us. Our foray into the US market in data centres represents a significant milestone in our journey to build a global digital infrastructure platform that will empower businesses today and in the future,” said Hussain Sajwani, founder of Damac.

“Leveraging our expertise in real estate and data centres, we aim to deliver best-in-class infrastructure that supports the next wave of cloud and AI growth, helping further position the US in the technology and global data ecosystem,” he added.

The President-elect revealed the investment intentions at his Mar-a-Lago estate where he also invited Emirati businessman Hussain Sajwani to the podium. "We're looking at investing $20 billion and maybe further, depending on the opportunities available in the market," Sajwani added.

Just a few days before the announcement, Sajwani uploaded a photograph on Instagram with himself, Donald Trump, and Elon Musk celebrating the New Year. In that image, he is standing behind the two important personalities with a caption: "Kicking off the New Year with President Trump and Elon Musk at Mar-a-Lago."

This region has the only Trump-branded golf course in the Middle East, which Damac opened in Dubai in 2017.

The company has presence in more than 20 countries around the globe and has delivered over 45,000 luxury units with an additional count of 45,000 under construction. In the data center segment, Damac has investments in ten countries across the Middle East, Asia, and Europe.

The US, as well as other Western countries, is still one of the key destinations for the UAE investors.

According to Jamal Bin Saif Al Jarwan, Secretary-General, UAE International Investors Council (UAEIIC), in his statement last year, the UAE has carved its destiny as an important regional and global player in the arena of foreign direct investments.

He said that by early 2024, the total value of Emirati investments abroad, counting both government and private sector investments, will reach an impressive $2.5 trillion.