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

Dubai - UAE billionaire Hussain Sajwani will spend $20 billion in the growing US data centre market over the next five years, he and the US President-elect Donald Trump said on Tuesday at Trump's Palm Beach, Florida, home. 

A Damac spokesman confirmed the information Tuesday night. 

"It’s really a big day for us. We started in the US market in data centers, which is a big step in developing a global digital infrastructure solution for businesses today and in the future," said Hussain Sajwani, Damac founder. 

"With our real estate and data centre knowledge, we can provide top-of-the-line infrastructure for the next era of cloud and AI growth, further strengthening the US as a technology and data centre powerhouse," he said. 

The President-elect made the investment announcement at Trump’s Mar-a-Lago mansion and had the Emirati tycoon stand on stage to speak. "We are willing to put $20 billion and even more, if the market allows us," said Sajwani. 

Days before the announcement, Sajwani took a picture on Instagram of himself with Donald Trump and Elon Musk to mark the new year. The picture, where he’s flanking the two superstars, reads: "Enjoying the New Year with President Trump and Elon Musk at Mar-a-Lago. 

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

It has presence in more than 20 countries around the world and has already sold more than 45,000 luxurious homes with another 45,000 under contract. The company also invests in 10 countries globally: Middle East, Asia, Europe. 

Among the major markets for UAE investors, the US and Western Europe. 

As the UAE is now the largest regional and global player in foreign direct investment, Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), told reporters last year. 

‘Emirati investments in foreign countries (both public and private),’ he said, would amount to an astonishing $2.5 trillion at the beginning of 2024. 

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