Dubai real estate developer Damac Properties will invest $20 billion in data centres across the United States, President-elect Donald Trump announced on Tuesday.
“Today marks a significant milestone as we announce a $20 billion investment in the United States, reinforcing our commitment to driving global growth and strengthening international partnerships. It was an honour to announce and collaborate with President-elect @realDonaldTrump under his leadership, highlighting our shared dedication to innovation, prosperity, and long-term success. This investment reflects our confidence in the US market and our ambition to create lasting value,” Damac founder and chairman Hussain Sajwani said via X.
During a press conference at Mar-a-Lago at Palm Beach, Florida, both Trump and Sajwani indicated that Damac’s investment decision was shaped by Trump’s electoral success in November.
The first phase will span Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana.
“The investment will support massive new data centres across the Midwest, the Sun Belt area, and also to keep America on the cutting edge of technology and Artificial Intelligence,” Trump said.
The investment follows Damac’s recent ventures in Thailand and Saudi Arabia.
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