Hussein Sajwani, the chairman of Dubai property giant Damac, unveiled ambitious investment plans for the United States on Thursday. Speaking to CNBC's Dan Murphy in Dubai, United Arab Emirates, Sajwani discussed the potential for increased investment in the U.S. market. His comments followed President-elect Donald Trump's announcement of a significant $20 billion foreign investment by Damac to establish new data centers across the country.
Sajwani directly addressed inquiries about his future investment intentions in the U.S. market. When asked if he would consider expanding Damac's financial footprint in the United States, Sajwani expressed an optimistic outlook.
"Well I mean, the sky is the limit, we can invest more, as much as the market takes, then the limitation is not on." – Hussein Sajwani
Two days prior to Sajwani's statement, President-elect Donald Trump revealed that the Emirati company had pledged "at least" $20 billion for developing data centers throughout the United States. This substantial foreign investment highlights Damac's strategic focus on expanding its operations beyond the Middle East and into North America.
The investment aims to bolster data infrastructure and support technological advancements in the U.S. market. As digital transformation accelerates globally, the need for robust data centers becomes increasingly critical. Damac's commitment to this sector underscores its dedication to leveraging opportunities in high-demand areas.
Damac, known for its luxury property developments in Dubai, sees promising potential in the U.S. real estate and technology markets. By diversifying into data center projects, Damac aims to capitalize on emerging trends and establish a strong presence in a rapidly evolving industry.