DAMAC to Invest $20 Billion in US Data Centres

The amount could increase and possibly double, says President-elect Donald Trump

President-elect Donald Trump has announced a $20 billion foreign investment to build new data centres in the United States. Emirati billionaire Hussain Sajwani, Founder of the UAE-based real estate development company DAMAC Properties, is pledging the money, Trump said.

Sajwani, a Trump associate, is pledging “at least” that amount, the president-elect said at his Florida home, Mar-a-Lago. “They may go double, or even somewhat more than double, that amount of money,” Trump said of Sajwani’s company. The “first phase” of the plan will take place in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said.

Cutting-Edge Technology 

• Emirati billionaire Hussain Sajwani, Founder of the UAE-based real estate company DAMAC Properties, pledges to invest at least $20 billion in new US data centres
• The first phase of investment will be implemented in several US states, including Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana
• The pledge follows a similar $100 billion commitment from Softbank CEO Masayoshi Son, aimed at creating 100,000 jobs in the US

Sajwani suggested that the Republican’s election spurred him to commit to the investment. “It’s been amazing news for me and my family when Trump was elected in November. We’ve been waiting four years to increase our investment in the US to very large amounts of money,” the Dubai developer said in brief remarks at Mar-a-Lago.

For his part, Trump said the investment would support “massive new data centres” across the US and “keep America on the cutting-edge of technology.” He added, “Artificial intelligence is very big into the data centres, and that’s going to be a very hot item in the coming years.”

Sajwani’s pledge is the latest example of a foreign business leader promising to spend big in the US as a result of Trump’s election victory over Democratic Vice President Kamala Harris. In December, Softbank CEO Masayoshi Son announced plans to invest $100 billion in the US and create 100,000 jobs over the course of Trump’s four-year term. Trump, who takes office on January 20, has sought to attract more foreign entities to do business in the US by offering perks, such as expedited permits, for those that invest $1 billion or more.

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