The US President; Donald Trump, on Tuesday revealed that an Emirati company, that is run and owned by the an Emirati Businessman; Hussain Sajwani, a renowned and close business partner of the Trump family, is willing to make a whopping investment of $20Billion in data Centers in the United States.
The investment by Damac Properties in the United Arab Emirates reflects Trump’s capacity to secure fresh funding for the significant undertakings. This statement comes after Japanese billionaire businessman Masayoshi Son promised to make an investment of $100 billion in the IS last month while he was with Trump.
“He was very inspired by the election and wouldn’t do it without the election,” said Trump at a news conference that he believed Sajwani committed.
The president-elect; Donald Trump threw light on his plans to get investments worth $1 billion or more through the environmental regulatory review process quickly.
“It’s been amazing news for me and my family when he was elected in November,” Following Trump, Sajwani briefly joined the news conference and said.
The pledged investment by Sajwani supports the current boom in building and constructing data centers for the advancement of artificial intelligence (AI), the growth of cryptocurrencies, and other aspects of an increasingly digital economy that depends on robust computer processing power sources.
Provided the already huge investment in the new data centers, the $20 billion investment promise is also a clear indicator that the potential and affluent investors who share a close relationship with Donald Trump can benefit from that relationship, even though Trump has attempted to bring forward these announcements as a source of renewed vim and vigour in the American economy.
Blackstone, a financial firm predicted that over the next 5 years I.e. in October, $1 trillion would be invested in data centers in the US, with an added $1 trillion going outside. Sajwani’s pledge might only account for 2% of the anticipated total amount of domestic investment in the industry.
Data centers in the United States, which have not yet been included in his company’s EDGNEX data center portfolio, would completely be taken by Sajwani. The company’s website is a clear indicator that it now operates data centers in the United Arab Emirates, Saudi Arabia, Turkey, Spain, Thailand, and Indonesia, or aims to do so.
Damac properties is one of the leading private developers in the United Arab Emirates skyscraper filled city.
Donald Trump has joined hands with the real estate developer. Shortly before Trump took office, DAMAC properties constructed the Trump International Golf Club at a huge development in the desert outskirts of the city under Sajwani.
Keeping up with the trend, the president-elect’s business has employed in both international and domestic affairs, Damac properties also returned millions of dollars in licensing fees to the famous Trump organization.
A golf course named after President Trump has been planned for another development by Damac properties farther out in the desert. Plans for this golf course in the property were abandoned at a later phase by Damac properties. Moreover, after Trump won the election in 2016, discussions for a $2 billion contract between the Trump organization and Damac properties never came into reality.
According to a statement by Sajwani, Trump’s first election as president raised awareness of his business across the world.
Sajwani has been spotted at Trump’s Mar-a-Lago home in Florida since his reelection in the month of November. He also shared a photo of himself at a New Year’s Eve celebration, standing between billionaire Elon Musk and a seated president Donald Trump. Since this meeting, the Trump organization has been working with Dar Global, a Saudi-Arabia founded real estate company that is designing and developing Trump buildings in Saudi Arabia and a golf course reflecting the name of Trump in Oman.
The previous plans for a Trump Tower on the artificial man-made island of Palm Jumeirah amidst the city’s 2008 financial crisis, there are certain proposals for a Trump tower that will be built in Dubai as well.
Source : propertynews.ae
