DAMAC Group’s Hussain Sajwani to invest $20bn in US data centres

Dubai property giant DAMAC Group’s chairman Hussain Sajwani promised a $20bn investment in the booming US data centre industry in the coming years, he and US President-elect Donald Trump announced on Tuesday at Trump’s home in Palm Beach, Florida.

“They may go double, or even somewhat more than double, that amount of money,” President-elect Trump said of DAMAC Group.

The construction of new data centres by EDGNEX Data Centers, a unit of DAMAC, in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana will generate employment opportunities for thousands of Americans.

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

The “first phase” of EDGNEX’s expansion will involve strategic partnerships, land acquisition alongside utilities, and the purchase of existing data centres and platforms. Phase 1 will establish approximately 500MW of capacity, with one facility in the Sunbelt and another in the Midwest.

Sajwani’s pledge is the latest example of a foreign business leader promising to spend heavily in the US after Trump’s election victory over Democratic Vice President Kamala Harris.

Last month, Softbank CEO Masayoshi Son unveiled plans to invest $100bn in the US and create 100,000 jobs over the course of Trump’s four-year term.

Meanwhile, DAMAC has ramped up investment in the buoyant artificial intelligence (AI) sector with a $50m Anthropic deal. The group has also made significant investments in xAI, an American AI startup founded by Elon Musk, and Mistral, a French AI firm.

Earlier in December, EDGNEX and PPC Group announced plans to develop a cutting-edge data centre in Spata, East Attica, Greece, through a new joint venture called Data In Scale.

With operations in 10 countries, including the UAE, Malaysia, and Italy, EDGNEX’s projected capacity exceeds 1000MW. The company’s current operational data centres include over 10MW in Saudi Arabia and 5MW in Thailand (coming online in Q1 2025).

DAMAC’s US investments extend beyond data centres, encompassing real estate and private equity. The property developer is developing a $1bn Miami condo project (designed by Zaha Hadid Architects).

Read: DAMAC Group ramps up AI investments with $50m Anthropic deal