Dubai-based billionaire Hussain Sajwani, the chairman of Damac Properties, plans to invest 20 billion US dollars (USD) (Rs 17,16,97,00,00,000) for data centers in the United States (US).
The announcement was made by President-elect Donald Trump on Tuesday, January 7, during a press conference at his Mar-a-Lago resort in Florida.
Trump said that he believed Sajwani made the commitment because “he was very inspired by the election and wouldn’t do it without the election.”
Initially, the investment will target data centres in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said.
“It’s an honor to have such a great investor investing our country, the investment will support massive new data centers and also to keep America on the cutting edge of technology and artificial intelligence (AI),” Trump said.
“It’s been amazing news for me and my family when he was elected in November,” Sajwani said, while speaking at Tuesday’s press conference.
“We’ve been waiting four years to increase our investment in the US to very large amounts of money. We are a company operating in more than 20 countries around the world.”
“We have delivered more than 45,000 luxury units and another 45,000 more in the pipeline. In data centres we are in 10 countries around the world, in Asia, Europe and the Middle East.”
“We are very excited now with his [Trump’s] leadership and his open strategy and policy to encourage businesses to come to the US,” he added.
Sajwani and Trump have a long-standing relationship, including the opening of a Trump golf club in Dubai in 2017.
Sajwani’s investment comes after Japanese billionaire Masayoshi Son made a similar commitment last month, announcing aspirations to invest 100 billion dollars in the US.
All of these actions support Trump’s declared goal of attracting significant foreign investment to strengthen the US economy.
