Dubai billionaire visits Trump to announce $20bn investment in US data centres
08 January 2025
CEO of DAMAC Properties Hussain Sajwani makes remarks next to U.S. President-elect Donald Trump, at Mar-a-Lago in Palm Beach, Florida. (Image: REUTERS/Carlos Barria)
Dubai-based real estate company and developer DAMAC has promised to invest US$20 billion in the construction of new data centres in the USA.
DAMAC’s founder, Emirati billionaire Hussain Sajwani, announced the move alongside President-elect Donald Trump at Trump’s Mar-a-Lago home in Florida.
The company already has links to Trump through its ownership of the Middle East’s only Trump-branded golf course, in Dubai.
Speaking at Mar-a-Lago, Sajwani told reporters, “We’re planning to invest $20 billion and even more than that, if the opportunity in the market allows us.”
The ‘first phase’ of the plan will take place in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, according to Trump.
Demand for data centres has boomed since the public launch of OpenAI’s generative artificial intelligence chatbot ChatGPT, in late 2022.
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