President-elect Donald Trump announced on Tuesday a US$20 billion foreign investment by Emirati billionaire Hussain Sajwani, founder of Damac Properties, to establish data centers across the United States.

During a speech at Mar-a-Lago in Florida, Trump said that the initial phase of the project will target multiple states, including Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana.

He noted that the invested amount might exceed what has been announced.

Sajwani linked the investment decision to Trump’s election win, seeing it as a chance to enhance Damac’s footprint in the US market.

He described the election outcome as a key motivator for the investment.

Recent real estate developments