Trump announces Dubai company will invest at least $20 billion in U.S. data centers

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DAMAC Properties is the latest foreign investor to announce plans for the U.S. since Donald Trump's victory.

Dubai developer DAMAC Properties will invest at least $20 billion 'over a very short period of time' in the U.S., primarily in data centers in the middle of the country, President-elect Donald Trump announced Tuesday, as the company's billionaire founder and CEO, Hussain Sajwani, stood nearby.Speaking to reporters at Trump's Florida Mar-a-Lago estate, Trump and Sajwani said Trump's victory in November influenced the company's decision to make the investment.

'The president-elect said the company may even 'double' that $20 billion investment, but Sajwani sad his company will start with the $20 billion. DAMAC's former chairman and current board member Farooq Arjomand has been linked to the effort to pay $600,000 to former FBI informant Alexander Smirnov, who has been convicted of lying to the FBI about Hunter Biden's dealings with Burisma.Trump has pledged that for companies investing $1 billion or more in the U.S.

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Trump Announces $20 Billion Data Center Investment and Regulatory ChangesPresident-elect Trump addressed the nation, announcing a $20 billion investment in data centers across the US from DAMAC Properties. He also outlined plans to expedite approvals for companies investing $1 billion or more in the country. Trump criticized current regulations and pledged to reverse President Biden's bans on new oil drilling.
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