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President-elect Donald Trump on Tuesday (January 7) announced a $20 billion investment in US data centers by DAMAC Properties, a real estate firm led by Emirati billionaire Hussain Sajwani, a long-time business associate of Trump.
The move marks a significant commitment by DAMAC, one of the top private developers in the United Arab Emirates, and underscores Trump’s emphasis on using his presidency to attract substantial international investments.
At a news conference, Trump attributed the investment to the optimism surrounding his election. “He [Sajwani] was very inspired by the election and wouldn’t do it without the election,” Trump said, emphasizing his commitment to expedite regulatory approvals for billion-dollar investments.
Sajwani briefly addressed the media, expressing enthusiasm for Trump’s leadership. “It’s been amazing news for me and my family when he was elected in November,” Sajwani said.
Boost to digital infrastructure
The $20 billion commitment is expected to fuel the ongoing surge in data center construction across the US, which is critical for advancing artificial intelligence, supporting cryptocurrency growth, and enhancing digital infrastructure. These data centers will play a pivotal role in meeting the increasing demand for computer processing power in the digital economy.
DAMAC is already well-known for its partnership with the Trump Organization, having built the Trump International Golf Club at a large desert development in Dubai before Trump assumed the presidency in 2016. Sajwani has credited Trump’s initial presidency with boosting his company’s profile globally.
Close ties with Trump
Sajwani’s appearance at Trump’s Mar-a-Lago estate in Florida after his re-election in November has drawn attention to their continued partnership. Sajwani recently shared a photo of himself with Trump and billionaire Elon Musk at a New Year’s Eve celebration, further highlighting his proximity to Trump’s inner circle.
The investment by DAMAC Properties follows a similar pledge last month by Japanese billionaire Masayoshi Son, who announced plans to invest $100 billion in the United States. Together, these moves align with Trump’s stated vision of bringing large-scale international investments to boost the American economy.
(With Reuters inputs)