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The Damac Properties CEO, Hussain Sajwani, has links with the chosen president Donald Trump for years
A photo rendering of Damac Properties CEO Hussain Sajwani and the president chose Donald Trump (Getty, Damac Properties)
The developer of the Surfside collapse site plans to pump at least $20 billion into data centers across the U.S.
Dubai-based Damac Properties, led by Hussain Sajwani, will target data centers in Arizona, Illinois, Indiana, Louisiana, Michigan, Ohio, Oklahoma and Texas, President-elect Donald Trump announced at a news conference on Tuesday, CBS News reported. The data centers primarily target artificial intelligence and cloud services.
Damac, known for its luxury residential projects basically in Dubai, as well as throughout the Middle East and London, had for years been looking to break into the genuine US real estate market. Sajwani told The Real Deal in a 2022 interview. The debut of the USA U. S. That year, ending with the $120 million acquisition of Champlain Towers’ South Cave on the site at Surfside. damac The sole bidder for the site where Champlain Cave Ind in 2021, killing 98 people.
As of May, Damac planned a 52-unit, Zaha Hadid Architects-designed luxury condo project on the oceanfront property.
Now, Sajwani, who has had close ties with Trump and his family over the years, seemingly has plans to supercharge the firm’s U.S. investment. Sajwani, who is in his early 70s, was at Mar-a-Lago Club in Palm Beach when Trump made the announcement of Damac’s data centers bet.
“It was news for me and my relative circle when I was chosen in November,” Sajwani said, said CBS News. “We are waiting for 4 years to develop our investment in the United States to a very giant sum of money. “
From the elections, Saxwani has also been in Mar-a-Lago in an New Year’s Eve event, publishing a photo of Instagram of himself between Trump and Elon Musk.
In Dubai, Damac’s projects come with Damac Hills of 42 million square feet, which opened the first Trump logo golf course in the Middle East in 2017. Eric Trump and Donald Trump Jr. were opening honor visitors.
The announcement of the Damac knowledge centers investment chimes in, while Trump has promised that his management will increase environmental rents for corporations that invest at least $1 billion in the United States
It also occurs while the knowledge centers have the new Darling. microsoft asset class has budgeted 80,000 million dollars for knowledge centers this year, more than the part of which will be allocated to the United States, while other giants such as Amazon and Blackstone They also make large investments in knowledge centers.
–– Lidia Dinkova
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