Trump: Dubai-Based Company Damac to Invest $20 Billion in U.S. Data Centers
Donald Trump announced that Dubai-based construction company Damac, owned by billionaire Hussain Sajwani, plans to invest at least $20 billion in building data centers across the United States.
Who Is Hussain Sajwani?
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Founder of DAMAC Properties:
- Hussain Sajwani is an Emirati billionaire and the founder of DAMAC Properties, a leading developer known for luxury residential and commercial projects.
- DAMAC has delivered numerous high-profile projects, including elite homes and hotels.
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DAMAC Group:
- Sajwani also operates his private investment company, DAMAC Group, which focuses on diverse sectors, including real estate, technology, and retail.
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Net Worth:
- As of August 2024, Sajwani ranks among the wealthiest Arabs, with a net worth of $5.1 billion, according to Forbes.
Investments in the U.S.
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Damac’s Plans:
- The company aims to build state-of-the-art data centers, addressing the increasing demand for digital infrastructure in the U.S.
- This project is expected to create thousands of jobs and strengthen ties between the UAE and the U.S.
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Why Does It Matter?
- The U.S. is a global leader in technology and data storage, and such investments highlight growing partnerships between the Middle East and the West.
- Trump called it “a major step toward boosting the American economy.”
Reactions to Trump’s Statement
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Support:
- The business community welcomed the investment, noting its potential to enhance digital infrastructure and generate employment.
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Criticism:
- Some policymakers expressed concerns about the influence of foreign investors in critical sectors like data processing and storage.
Conclusion
Damac Group’s investment in the U.S. will not only strengthen economic ties between the two nations but also underscore the growing role of Emirati capital in the global digital economy. This initiative could inspire other Middle Eastern companies to explore international markets.
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