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All rights reserved. <a href="https://help.foxbusiness.com/hc/en-us/sections/4405278462107-FAQ">FAQ</a> - <a href="/privacy-policy">New Privacy Policy</a><br>Essex Investment senior portfolio manager Nancy Prial gives her take on how the next Trump administration will impact markets and the future of A.I. on ‘The Claman Countdown.’<br><a href="https://www.foxbusiness.com/category/donald-trump" target="_blank" rel="noopener">President-elect Trump</a> on Tuesday announced that a company based in the United Arab Emirates will invest $20 billion to build data centers in several Midwest and Sun Belt states.<br>Trump spoke to the press at his Mar-a-Lago resort in Florida, where he was joined by Hussain Sajwani, the founder and chairman of DAMAC, an investment and property development company based in Dubai.<br>"I'm thrilled to announce today that DAMAC will be investing at least $20 billion over a very short period of time into the United States, and they may go double or even somewhat more than double that amount of money. That's a great thing," Trump said.<br>The first phase of the <a href="https://www.foxbusiness.com/category/technology" target="_blank" rel="noopener">data center</a> project will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said.<br><a href="https://www.foxnews.com/politics/trump-addresses-nation-after-congress-certifies-2024-victory" target="_blank" rel="noopener"><strong>TRUMP ANNOUNCES $20 BILLION IN NEW DATA CENTERS IN POST-CERTIFICATION ADDRESS</strong></a><br><span>President-elect Trump announced the $20 billion data center investment by DAMAC.</span><span> (James Devaney/GC Images / Getty Images)</span><br>"We've been waiting for years to increase our investments in U.S. to very large amount of money," Sajwani said. "For the last four years, we've been waiting for this moment, and we're planning to invest $20 billion, and even more than that, if the opportunity in the market allows us."<br>"At the moment, we're planning $20 billion in datacenter catering for the <a href="https://www.foxbusiness.com/category/fox-news-cloud" target="_blank" rel="noopener">AI and cloud business</a> for the hyperscalers," he added.<br>Sajwani said that DAMAC has delivered over 45,000 luxury residential units and have another 45,000 in the pipeline. He added the company's data center business has a presence in 10 countries around the world in Asia, Europe and the Middle East.<br><a href="https://www.foxbusiness.com/economy/trump-softbank-ceo-announce-100b-investment-critical-infrastructure-ai" target="_blank" rel="noopener"><strong>TRUMP, SOFTBANK CEO ANNOUNCE $100B INVESTMENT TO CREATE 100,000 AMERICAN JOBS</strong></a><br><span>Data centers will be built in several Midwest and Sun Belt states with DAMAC's investment.</span><span> (Paul Moseley/Fort Worth Star-Telegram/Tribune News Service via Getty Images / Getty Images)</span><br>The DAMAC Group was founded in 1982 and its subsidiary DAMAC Properties was launched in 2002 after the UAE opened the country's <a href="https://www.foxbusiness.com/category/real-estate" target="_blank" rel="noopener">real estate market</a> to international investors. The company launched its first project in the Dubai Marina area that year.<br>DAMAC Properties has built projects throughout the <a href="https://www.foxbusiness.com/category/middle-east" target="_blank" rel="noopener">Middle East</a>, including in Qatar, Saudi Arabia, Jordan, Lebanon, as well as in China, Singapore, and the United Kingdom, according to the company's website.<br>Trump and Sajwani have done business together in the past. In 2016, Trump disclosed in a Federal Elections Commission filing that he and his business received between $1 million and $5 million from DAMAC for a golf course project in the UAE, the AP reported in 2017.<br><a href="https://www.foxbusiness.com/apps-products" target="_blank" rel="noopener"><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE</u></strong></a><br>The Trump International Golf Club Dubai opened in 2017. The club is located within DAMAC's Akoya housing development, which features over 2,600 luxury villas plus 7,000 apartments.<br><i>This is a developing story. Please check back for updates.</i><br><br>Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you.<br>We've added you to our mailing list.<br>By clicking subscribe, you agree to the Fox News <a href="https://www.foxnews.com/privacy-policy" target="_blank">Privacy Policy</a> and <a href="https://www.foxnews.com/terms-of-use" target="_blank">Terms of Use</a>, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time. <br> Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by <a href="https://www.factset.com/">Factset</a>. 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