(MENAFN- Khaleej Times)
Damac will continue to assess and look for opportunities in the US Real estate and data centres' fields, the company's founder said.
“What we announced in Miami early this month was an initial investment of $20 billion with potential plans of doubling the investment on the basis of future demand, market opportunity and scalability. We are also planning the launch of our Miami-based luxury condominium project this year, which will be designed by the renowned Zaha Hadid Architects," Hussain Sajwani, founder of Damac, told Khaleej Times.
"We will continue to evaluate premium real estate as well as data centres opportunities across key US markets,” he added.
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“I remain optimistic about the opportunities the US offers businesses and individuals to thrive in the years ahead,” said Sajwani.
Earlier this month, digital infrastructure company Edgnex Data Centres by Damac announced its entry in data centres into the US to deliver data centres targeting a 2,000MW capacity over the next four years. Edgnex announced an initial investment of $20 billion with potential plans of doubling the investment on the basis of future demand, market opportunity and scalability.
The announcement was made in a joint press conference by Damac founder Sajwani and US President Donald Trump, who took oath as the 47th president of the world's largest economy on Monday.
“Under the Trump administration, we have seen a strong emphasis on economic growth and pro-business policies, which have the potential to create a robust environment for investment and entrepreneurship. It is always encouraging to see initiatives to foster job creation, reduce regulatory hurdles, and strengthen trade relations,” said Sajwani.
Damac's founder elaborated that the first phase of 2,000 MW includes capacity build-up through joint ventures with partners, acquiring land banks in conjunction with utilities, and acquiring existing data centres and platforms.
While commenting on job creation, he added that significant job opportunities will open up in the data centre sector in the areas where Damac plan to initially operate – starting with the Sunbelt states like Texas, Arizona, Oklahoma, and Louisiana and Midwest states: Ohio, Illinois, Michigan, and Indiana.“We will build strong, localised teams with deep market expertise, adding to our current pool of 100-plus seasoned professionals,” he said.
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