The U.A.E. real estate tycoon and friend of Donald Trump’s has a history of flamboyant marketing and audacious projects, but will he be able to come up with the promised $20 billion? Hussain Sajwani makes his case from Mar-a-Lago.
Donald Trump and Hussain Sajwani Collaborate on $20 Billion U.S. Data Center Investment
Donald Trump, the President-elect, continues to make waves with high-profile deals even before resuming his role at the White House. On Tuesday, Trump hosted a press conference at his Mar-a-Lago estate in Florida to announce a $20 billion investment in U.S. data centers. This major initiative comes from Hussain Sajwani, a prominent Dubai-based property developer and long-time business associate of Trump. Sajwani joins a list of international billionaires making substantial U.S. investments since Trump’s election in November. Just last month, Japan’s Masayoshi Son of Softbank pledged a $100 billion investment in the United States over the next four years.
For Sajwani, this move is both a strategic investment and a nod to his strong business relationship with Trump. Additionally, the growing opportunities in artificial intelligence (AI) play a significant role. “We’ve studied the market thoroughly, and the time is right. AI demand is soaring,” said the 71-year-old Sajwani during a video call from Mar-a-Lago, where he has been staying for nine days. He expressed optimism about Trump’s business-friendly policies for the next four years, describing them as a motivator for his investment decision.
Sajwani explained that while he had been considering investing in U.S. data centers earlier, Trump’s election victory pushed him to finalize his plans. “I wanted to wait for a more supportive administration,” he said, adding that he discussed the idea with Trump upon arriving at Mar-a-Lago for the New Year. Trump showed enthusiastic support for the venture.
At Mar-a-Lago, Sajwani also met Elon Musk, who has worked closely with Trump since November and now co-leads the Department of Government Efficiency advisory body. Over recent years, Sajwani has invested up to $2 billion in American private equity and startups, including SpaceX and xAI, Musk’s artificial intelligence company. “Elon is a visionary and a legend,” Sajwani remarked, highlighting how his investments in SpaceX yielded significant returns—up to fourfold in less than two years.
While the $20 billion investment is substantial, Sajwani’s estimated net worth of $5 billion means strategic planning is essential. Much of his wealth is tied to Damac Properties, his luxury real estate company established in 2002. The firm specializes in upscale villas and apartments, along with golf courses in the UAE, London, Jordan, Saudi Arabia, and Qatar.
“Damac has performed strongly in Dubai over the past four years, and a considerable amount of cash will become available as projects are delivered,” Sajwani noted. This revenue will partly finance the data center initiative through his company Edgnex, launched in 2021 as part of Damac. Sajwani plans to allocate $7-8 billion of Damac’s funds, with the remaining investment coming from bank loans, though he declined to specify the banks involved.
The close partnership between Trump and Sajwani dates back to 2011, starting with a golf course project in Dubai. Their business relationship evolved into a friendship, with notable collaborations like the Trump-branded luxury villa complex launched in 2014. In 2017, Trump revealed that Sajwani had offered $2 billion for business deals in Dubai, but the offer was declined. Despite this, their collaborations flourished, including the opening of a Trump golf course in Dubai.
Sajwani confirmed that Trump-branded villas have sold out, with property values in Dubai continuing to rise. Four-bedroom villas in the Trump Estates Park Residences initially sold for around $800,000, while newer projects like BelAir at Trump Estates now feature rooftop villas starting at $4.6 million.
Both Sajwani and Trump share a flair for branding. While Trump’s name has been associated with everything from wine to real estate, Sajwani has partnered with luxury brands like Versace, Bugatti, and Fendi. His marketing strategies include extravagant offers like free Lamborghinis for property buyers during Dubai’s Shopping Festival. However, not all ventures have succeeded—plans for a Tiger Woods-designed Trump golf course in Dubai remain on hold.
AI and data centers are central to Sajwani’s future plans. His investments in firms like Anthropic and Mistral align with Edgnex’s focus on meeting the demand for AI-generated data storage. Edgnex has already spent nearly $1 billion on land for data centers across Europe, Asia, and the Middle East, with operational centers in Saudi Arabia and Thailand and more under construction. Future plans include $3 billion in Southeast Asia and $400 million in Spain.
To scale operations, Sajwani plans to equip data centers with Nvidia chips, leveraging their dominance in the AI sector. Discussions with Nvidia are ongoing. He sees Trump’s administration as key to reducing energy costs for data centers, citing the availability of land in the U.S. as an advantage.
At the press conference, Trump pledged streamlined approvals for businesses investing over $1 billion in the U.S., reinforcing his support for Sajwani’s venture. While Edgnex remains a part of Damac, Sajwani is open to external investors or even a public listing on NASDAQ in the future. Reflecting on his partnership with Trump, Sajwani hinted at potential future collaborations.
Beyond business, Sajwani’s Mar-a-Lago stay has strengthened connections with global billionaires, many of whom are showing interest in Dubai’s real estate market. “In the past week, I’ve met several high-net-worth individuals considering a move to Dubai,” Sajwani shared, underscoring the city’s growing allure.
