UAE billionaire Hussain Sajwani, CEO of Damac Properties, announced on Tuesday a $20 billion investment in the booming US data center sector in the coming years

His announcement took place at Trump's Mar-a-Lago resident in Palm Beach, Florida, as he stood next to the US president-elect. 

A Damac spokesperson confirmed the news to Khaleej Times on Tuesday evening.

Sajwani stressed, "This is an extremely exciting moment for us. Our foray into the US market in data centers represents a significant milestone in our journey to build a global digital infrastructure platform that will empower businesses today and in the future."

"Leveraging our expertise in real estate and data centers, we aim to deliver best-in-class infrastructure that supports the next wave of cloud and AI growth, helping further position the US in the technology and global data ecosystem," he added.

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At Trump's Mar-a-Lago estate, the President-elect made the investment announcement and invited the Emirati businessman to the podium to speak. "We're planning to invest $20 billion and even more than that, if the opportunity in the market allows us," Sajwani said.

Days before the announcement, Sajwani posted a photo on Instagram of him, Elon Musk, and Donald Trump on New Year's Eve, captioning the image with "Starting the New Year with President Trump and Elon Musk at Mar-a-Lago."

It is worth noting that Damac owns the Middle East's only Trump-branded golf course in Dubai, which opened in 2017.

Today marks a significant milestone as we announce a $20 billion investment in the United States, reinforcing our commitment to driving global growth and strengthening international partnerships. It was an honor to announce and collaborate with President-elect @realDonaldTrump… pic.twitter.com/tUg5avQLUk

— Hussain Sajwani (@HussainSajwani) January 7, 2025

In more than 20 countries worldwide, the company delivered over 45,000 luxury units, with another 45,000 in the works.

It is worth noting that the US and other Western countries are some of the major destinations for UAE investors.

Last year, the Secretary-General of the UAE International Investors Council (UAEIIC), Jamal Bin Saif Al Jarwan, said that the UAE has solidified its position as a leading regional and global player in foreign direct investment.

He added that the total value of Emirati investments abroad, encompassing both government and private sectors, is estimated to have reached a staggering $2.5 trillion by the beginning of 2024.