Emirati billionaire Hussain Sajwani expressed optimism on Friday about increased Gulf investments in the U.S., citing a “pro-business” environment as Donald J. Trump prepares for his second term as president.
The real estate tycoon and longtime Trump business partner announced at Trump’s Mar-a-Lago resort plans to invest $20 billion in data centers across eight U.S. states through DAMAC’s subsidiary, EDGNEX.
Sajwani’s Dubai-based DAMAC Properties owns the only Trump-branded golf course in the Middle East.
At the event, Trump committed to expediting regulatory approvals for such large-scale investments.
“I think his overall policies are pro-business,” Sajwani told Reuters from his Dubai home on Palm Jumeirah.
He added that these policies would encourage others to invest in the U.S., particularly in sectors like artificial intelligence and technology.
Sajwani, an investor in Elon Musk’s SpaceX and AI company xAI, celebrated New Year’s with Trump and Musk at Mar-a-Lago.
He also revealed plans to attend Trump’s inauguration on Jan. 20.
Forbes estimates Sajwani’s net worth at $5.1 billion.
Trump and his family have longstanding business ties in the Gulf, including real estate projects in Saudi Arabia and Oman and Gulf state investments in Jared Kushner’s firm.
AI and Data Center Investments
Sajwani emphasized the UAE’s race to become a global AI leader amid regional competition from Qatar and Saudi Arabia.
EDGNEX plans to build data centers with a 2,000-megawatt capacity over four years in Texas, Arizona, Illinois, and other states, citing accessible land, energy, and business-friendly regulations.
The $20 billion project will be 60%-70% debt-funded, with DAMAC’s balance sheet covering the rest.
Sajwani acknowledged potential scrutiny from the U.S. Committee on Foreign Investment but anticipates faster regulatory processes under Trump’s administration.
“We know from the overall policy of the government, (it is) going to be more encouraging to foreign investment,” Sajwani said.