On Wednesday, U.S. President-elect Donald Trump unveiled plans for new data centers nationwide, backed by foreign investment of at least $20 billion.
Trump stated that Sajwani, a UAE billionaire and close associate, promised to invest a minimum of $20 billion during their meeting at Mar-a-Lago.
Sajwani is the founder of DAMAC Properties, a real estate development firm.
Trump suggested that DAMAC might significantly increase its investment in data centers, indicating that the amount could double or possibly even more.
He outlined that the “first phase” of data center construction will occur in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana.
During their joint press conference at Mar-a-Lago, Sajwani explained that Trump’s election victory inspired his decision to make substantial investments.
“It’s been amazing news for me and my family when Trump was elected in November. We’ve been waiting four years to increase our investment in the U.S. to very large amounts of money.”
This isn’t the first major foreign investment following Trump’s re-election.
Previously, Masayoshi Son, CEO of SoftBank in Japan, announced plans to invest $100 billion in the U.S. during Trump’s four-year term and create 100,000 jobs.
Son also spent time with Trump at Mar-a-Lago before announcing his large-scale investment plans.
To attract foreign investments, Trump offers incentives such as expediting approvals for investments exceeding $1 billion.
