investigation

Damac Properties CEO Hussain Sajwani has had close ties to President-elect Donald Trump for years

A photo rendering of Damac Properties CEO Hussain Sajwani and President-elect Donald Trump (Getty, Damac Properties)

The developer of the Surfside cave in plans to pump at least $ 20 billion to knowledge centers in the United States.  

Damac Properties, founded on Dubai, directed by Hussain Sajwani, will be directed to the knowledge centers in Arizona, Illinois, Indian CBS News. Data centers are basically aimed at synthetic intelligence and cloud services.  

Damac, known for its luxury residential projects basically in Dubai, as well as across the Middle East and London, for years, has been looking to enter the genuine American real estate market, Sajwani told The Real Deal in an interview in 2022. He made his American American debut that year, ending with the $120 million acquisition of the cave at the Champlain Towers South South site in Surfside. Damac the sole bidder of the site where Champlain Cave Ind in 2021, killing 98 people.  

In May, Damac planned a luxury condo assignment designed through Zaha Hadid Architects on the beachfront property.  

Now, Saxwani, who has had close links with Trump and his circle of relatives over the years, intends to overheat the US company’s investment. When Trump announced Damac Knowledge’s Middle 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 was also seen in Mar-A-Lago a New Year event, showing a photo of Self-Instagram between Trump and Elon Musk.

In Dubai, Damac’s projects come with the Damac Hills of 42 million square feet, which opened the first Golf course with Trump brand in the Middle East in 2017. Trump Eicod Trump and Donald Trump Jr. were honorary visitors in the opening.  

The announcement of the investment of Damac Knowledge Centers occurs when Trump has promised that its management will increase environmental rentals for corporations that invest at least $ 1 billion in the United States.  

It also comes as data centers have emerged as the new darling asset class. Microsoft has budgeted $80 billion for data centers this year, more than half of which will target the U.S., while other behemoths such as Amazon and Blackstone also are making hefty investments in data centers. 

–– Lidia Dinkova

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