DUBAI, United Arab Emirates — The sky is the restrict relating to Dubai property large Damac’s funding within the United States, the corporate’s chairman advised CNBC on Thursday.
Two days prior, President-elect Donald Trump introduced a $20 billion overseas funding by the Emirati firm to construct new knowledge facilities throughout the U.S. — including that its founder and chairman Hussein Sajwani was pledging “a minimum of” that quantity.
“The U.S. is a big market, so our $20 billion [investment] is a sizeable [amount of ] cash if you take a look at it from our standpoint. But, to my data, there’s a massive sum of money getting invested in knowledge facilities, and a few numbers are speaking about $500 billion and extra,” stated Sajwani, who’s a longtime buddy and enterprise accomplice of Trump. He pointed to Microsoft’s current announcement on investing $80 into American knowledge facilities in 2025.
Asked by CNBC’s Dan Murphy if he would finally make investments extra within the U.S., Sajwani replied: “Well I imply, the sky is the restrict, we are able to make investments extra, as a lot because the market takes, then the limitation just isn’t on.”
He added, “we are able to use initially our personal monetary assets, however then [in the] second section we are able to use [a] third occasion’s cash, if our platform can develop to the following degree.”
CEO of DAMAC Properties Hussain Sajwani makes remarks subsequent to U.S. President-elect Donald Trump, at Mar-a-Lago in Palm Beach, Florida, U.S. January 7, 2025.
Carlos Barria | Reuters
Sajwani, the Emirati billionaire, based Damac Properties in 2002. The firm is a part of Damac Group, a serious presence in Dubai’s burgeoning actual property market that’s recognized for its megaprojects, which embrace luxurious high-rises, inns and villas in each Europe and the Middle East.
The firm has additionally already expanded into the U.S. In 2022, Damac Properties received a $120 million bid to buy land in Miami’s upscale Surfside district, the place it plans to construct a luxurious oceanfront condominium.
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