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UAE billionaire Hussain Sajwani to invest $20 billion in US data centres, Trump announces

Damac owns the Middle East's only Trump-branded golf course in Dubai, which opened in 2017, and the billionaire was at Trump's Mar-a-Lago home during the announcement

Published: Tue 7 Jan 2025, 10:36 PM

Updated: Wed 8 Jan 2025, 6:53 PM

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CEO of Damac Properties Hussain Sajwani makes remarks next to US President-elect Donald Trump, at Mar-a-Lago in Palm Beach, Florida, US January 7, 2025. Photo: Reuters

CEO of Damac Properties Hussain Sajwani makes remarks next to US President-elect Donald Trump, at Mar-a-Lago in Palm Beach, Florida, US January 7, 2025. Photo: Reuters

UAE billionaire Hussain Sajwani to invest $20 billion in the booming US data centre sector in the coming years, he and US President-elect Donald Trump announced on Tuesday at Trump's home in Palm Beach, Florida.

A Damac spokesperson confirmed the news to Khaleej Times on Tuesday evening.

"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.

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At Trump's Mar-a-Lago estate, the President-elect made the investment announcement and invited the Emirati businessman at the podium to speak. "We're planning to invest $20 billion and even more than that, if the opportunity in the market allows us," said Sajwani.

  • Watch him speak at Mar-a-Lago:

Just days before the announcement, Sajwani posted a photo on Instagram showing himself with Donald Trump and Elon Musk celebrating the New Year. In the image, he stands behind the two prominent figures, with the caption: "Starting the New Year with President Trump and Elon Musk at Mar-a-Lago."

Damac owns the Middle East's only Trump-branded golf course, Dubai, which opened in 2017.

The company operates in more than 20 countries worldwide and has delivered over 45,000 luxury units, with another 45,000 in the pipeline. In the data centre, the company has investments in ten countries around the world, including the Middle East, Asia, and Europe.

The US and other Western countries are some of the major destinations for UAE investors.

Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), last year said that the UAE has solidified its position as a leading regional and global player in foreign direct investment.

He said the total value of Emirati investments abroad, encompassing both government and private sectors, to have reached a staggering $2.5 trillion by the beginning of 2024.

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