In a press conference at Mar-a-Lago on Tuesday, President-elect Donald Trump announced a major investment plan by DAMAC properties, an Emirati company led by Hussain Sajwani.
The company plans to invest at least $20 billion in the United States to build state-of-the-art data centers.
Trump highlighted the significance of the project, stating the investment “may go double or even somewhat more than double that” initial multi-billion-dollar figure.
Hussain Sajwani: “For the last four years we’ve been waiting for this moment, and we’re planning to invest $20 billion, and even more than that if the opportunity and the market allow us.” pic.twitter.com/nGaxYNRb12
— The Post Millennial (@TPostMillennial) January 7, 2025
The “massive” data centers will be strategically located across the Midwest and Sun Belt regions, with the aim of keeping the U.S. “on the cutting edge of technology and artificial intelligence.”
The first phase of construction is planned in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana.
Sajwani, DAMAC’s chairman, joined Trump at the press conference, expressing enthusiasm for the initiative. “For the last four years, we’ve been waiting for this moment,” Sajwani said. “We’re planning to invest $20 billion, and even more than that if the opportunity and the market allow us.”
This announcement follows another major investment commitment made by SoftBank, a Japanese company, in December.
Trump had previously announced that SoftBank would invest $100 billion in the U.S., creating an estimated 100,000 jobs. Masayoshi Son, SoftBank’s CEO, attributed the decision to his “tremendously increased confidence level” in the U.S. economy following Trump’s election victory.
Trump emphasized his administration’s commitment to fostering large-scale investments in the United States. He reiterated his promise that any business investing $1 billion or more would receive “fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals.”
This initiative is part of Trump’s broader strategy to position the U.S. as a global leader in technology and innovation, while simultaneously boosting job creation and economic growth.
As DAMAC’s ambitious data center project gets underway, the investment is expected to significantly contribute to the advancement of U.S. technological infrastructure and economic development, further solidifying the nation’s position as a leader in the tech sector.
