We waited 4 years to increase our investments in the United States

Damac Properties in Dubai announced that it intends to allocate investments worth $20 billion to develop data centers in the United States, during a press conference held by US President-elect Donald Trump, in which the Chairman of the Board of Directors of Damac, Hussain Sajwani, participated the day before yesterday. At the same time, Sajwani said that Damac waited four years to increase its investments in the United States to a significant value.

The project will focus on strengthening the artificial intelligence and cloud computing sectors, while the first phase will include the states: Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana.

Damac Properties has been looking forward to expanding in the American market for a long time, as its Chairman, Hussain Sajwani, said while announcing the investment alongside Trump that Damac had waited four years to increase its investments in the United States to a large value.

Sajwani added: “The company’s investments in the United States may increase if market conditions are favorable.”

The announcement of the new investment came as Trump seeks to attract foreign investment to the United States by offering privileges, such as express permits to those who invest a billion dollars or more, with the aim of boosting business.

Damac Properties noted, in a previous statement, that it is currently implementing a project to create private apartments in the American state of Miami, and is also studying more real estate opportunities in the United States. The company has also previously developed a Trump-branded golf course in Dubai.

Damac Properties seeks to develop projects with a total capacity of up to 2 gigawatts during the next four years in the United States, with the possibility of doubling its investments, according to the size of demand and opportunities in the market, according to a previous statement. In the first phase, Damac Properties will conclude agreements for joint projects and acquire lands and already existing data centers.

In Southeast Asia, Damac Properties revealed, last month, its intention to invest about three billion dollars to build data centers in Southeast Asia, through its subsidiary, “Edgenix Data Centers,” within three to five years, targeting primarily Malaysia. , Indonesia, and Thailand.

In Saudi Arabia, Edgenix Data Centers is investing $600 million in data centers in Riyadh and Dammam, which are expected to begin operating this year. The company signed a memorandum of understanding with Salam, Centurion, and Emaar the Economic City to develop a digital infrastructure center in the city of Jeddah, Saudi Arabia.

In Turkey and Greece, Edgenix Data Centers allocated $100 million with Vodafone Turkey to establish a data center with a capacity of 6 megawatts in the city of Izmir, to begin operating this year, in addition to a separate investment of $150 million to establish a data center in Isparta, Greece. Data center market in Spain through an investment worth 400 million euros, with a capacity of 40 megawatts in the capital, Madrid.

Bloomberg quoted Damac’s Senior Vice President of Investments and Acquisitions, Danish Nair, as saying that Damac plans to invest between five and seven billion dollars around the world over the next few years to expand its operations, with the aim of meeting the growing global demand for digital infrastructure. .

Since its launch in 2002, Damac Properties has witnessed extensive growth to become one of the most prominent luxury real estate development companies in the world, with a group of projects covering various countries of the Gulf Cooperation Council, the Middle East, the United Kingdom, and the United States.

It also owns a variety of skyscrapers and residential communities, and has so far delivered about 47,000 high-quality homes, with about 33,000 homes under construction.