US President-elect Donald Trump recently announced that UAE-based investment and property development company DAMAC will invest at least $20 billion to build data centers in several Midwest and Sun Belt states, including Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana. The company’s founder and chairman, Hussain Sajwani, was present at the press conference.
Sajwani stated that DAMAC plans to invest $20 billion for AI and cloud businesses catering to hyperscalers. The company has a presence in 10 countries worldwide and has delivered over 45,000 luxury residential units, with another 45,000 in development pipeline.
This significant investment comes after Trump’s previous collaborations with Sajwani, including a golf course project in the UAE. DAMAC Properties has built projects across the Middle East and Asia, and is expected to create 100,000 American jobs as part of this initiative.
Source: https://www.foxbusiness.com/politics/who-damac-company-investing-20b-midwest-sun-belt-data-centers