Bloomberg Talks DAMAC Properties Chairman, Founder Hussain Sajwani Talks US Data Center Investment
Jan 9, 2025
Hussain Sajwani reveals a bold $20 billion plan for U.S. data centers, with his company committing 30% of the funding. The discussion unveils strategic site selections and the excitement surrounding land deals. Insights into funding mechanisms, potential partnerships, and leasing agreements with tech giants highlight the complexities of entering the U.S. market. The impact of evolving government policies on foreign investment is also examined, shedding light on the challenges and opportunities in this rapidly growing sector.
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Damac's US Investments
- Damac has invested over $2 billion in U.S. private equity and direct deals.
- These include investments in companies like XAI, OpenAI, and SpaceX, demonstrating Damac's existing U.S. presence.
Investment Timing
- Damac's direct investment strategy hinges on a "friendly government" encouraging foreign investment.
- This suggests a political calculation in their timing.
Funding Strategy
- Damac has secured equity financing for the data center project.
- Debt financing will be arranged as data centers are built.