Damac Is Investing $20B in a US Tech Deal: Why Now?
Hussain Sajwani, chairman of Damac Properties, is set to make a major investment of at least $20 billion (AED 73.4 billion) in data centers across the United States, according to Reuters.
The announcement, made during a press conference at Mar-a-Lago, Florida, signals the official entry of EDGNEX, Damac’s data center subsidiary, into the U.S. market. The initiative aims to capitalize on the booming demand for cloud computing and artificial intelligence infrastructure.
Trump and Sajwani’s Longstanding Business Ties
President-elect Donald Trump, who returns to the White House for a second term on January 20, described Sajwani as “one of the most respected business leaders in the Middle East, indeed the world.”
Trump highlighted the investment as crucial to keeping the U.S. “on the cutting edge of technology and artificial intelligence,” adding that Sajwani’s involvement is an “honor.”
The partnership between Trump and Sajwani is not new. Damac previously developed Trump-branded projects, including the Trump International Golf Club. Additionally, in December 2024, Damac secured rights to build a Trump Tower in Abu Dhabi.
Targeting Key U.S. States
The initial phase of the $20 billion (AED 73.4 billion) investment will focus on developing data centers in states such as Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana, according to Trump.
Sajwani also expressed enthusiasm, according to reports, about expanding his U.S. footprint, noting that his family had been anticipating this opportunity since Trump’s election victory in November.
Further Investment Beyond the U.S.
This move follows EDGNEX’s announcement in early December of a $3 billion (AED 11 billion) investment in Southeast Asia’s data center market, underscoring Damac’s broader strategy to expand its tech infrastructure globally.
According to experts, Sajwani’s investment marks a significant step in fostering stronger economic ties between the Middle East and the U.S., potentially shaping the landscape of the data center industry in the coming years.
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