Damac announced $20 billion planned investment into U.S. data centers during a press conference by U.S. President-elect Donald Trump.DUBAI, United Arab Emirates — The sky's the limit when it comes to Dubai property giant Damac's investment in the United States, the company's chairman told CNBC on Thursday.to build new data centers across the U.S. — adding that its founder and chairman Hussein Sajwani was pledging"at least" that amount."The U.S.
He added,"we can use initially our own financial resources, but then second phase we can use third party's money, if our platform can grow to the next level."CEO of DAMAC Properties Hussain Sajwani makes remarks next to U.S. President-elect Donald Trump, at Mar-a-Lago in Palm Beach, Florida, U.S. January 7, 2025.
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Trump Announces $20 Billion Damac Investment in US Data CentersUS President-elect Donald Trump announced a $20 billion investment by Dubai-based Damac Properties into the United States, focusing on data centers in several states across the Midwest and Sunbelt. Trump attributed the investment to his election victory, stating it was inspired by his campaign. The investment, led by Damac chairman Hussain Sajwani, a long-time business associate and supporter of Trump, will create new data centers in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana, aiming to keep America at the forefront of technology and artificial intelligence.
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Trump Announces $20 Billion Damac Properties Investment in US Data CentersPresident-elect Donald Trump announced a $20 billion investment from DAMAC Properties, a Dubai-based real estate developer, into US data centers. Trump made the announcement at a Mar-a-Lago press conference alongside DAMAC chairman Hussain Sajwani, who attributed the investment to Trump's re-election. The investment is expected to create data centers across the Midwest, Sun Belt, and support America's technological advancement.
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Trump Announces $20 Billion Investment with Dubai Developer DAMACTrump's announcement highlights his focus on domestic investments and economic growth, potentially exceeding $20 billion. The investment will target US infrastructure, aiming to counter China's influence in advanced data center technology.
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UAE Company DAMAC to Invest $20 Billion in US Data CentersPresident-elect Trump announced a $20 billion investment from DAMAC, a UAE-based investment and property development company, to build data centers across several Midwest and Sun Belt states. The first phase of the project will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana. Trump spoke to the press alongside Hussain Sajwani, the founder and chairman of DAMAC, who stated that the investment could potentially double or exceed the initial $20 billion.
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