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鈥檚 founder, Emirati billionaire Hussain Sajwani, announced the move alongside President-elect Donald Trump at Trump鈥檚 Mar-a-Lago home in Florida.
The company already has links to Trump through its ownership of the Middle East鈥檚 only Trump-branded golf course, in Dubai.
Speaking at Mar-a-Lago, Sajwani told reporters, 鈥淲e鈥檙e planning to invest $20 billion and even more than that, if the opportunity in the market allows us.鈥�
The 鈥榝irst phase鈥� 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鈥檚 generative artificial intelligence chatbot ChatGPT, in late 2022.
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