Dubai-based DAMAC Properties has pledged a substantial $20 billion investment to construct data centers across the United States. This announcement came during a press conference held by President-elect Trump at his Mar-a-Lago residence on January 7, 2025, marking his first public address since his election victory was certified.

The investment, confirmed by DAMAC Properties owner Hussain Sajwani, is earmarked for a rapid rollout across several states, including Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana. Sajwani emphasized the investment's focus on bolstering the advancement of artificial intelligence and cloud computing technologies.

President-elect Donald Trump addressed the nation following his election victory certification. (AP Images)

President-elect Trump also unveiled a new policy designed to expedite regulatory approvals for companies investing $1 billion or more in the US. This initiative aims to address concerns about cumbersome US regulations, which Trump described as a deterrent to international investment. He pledged to fast-track environmental and other regulatory processes for such substantial investments.

Hussain Sajwani, chairman of DAMAC Properties, at the World Economic Forum in Davos, Switzerland, in 2023. (Stefan Wermuth/Bloomberg via Getty Images)

During the press conference, Trump also touched upon his interest in revisiting the US's historical involvement with the Panama Canal, criticizing former President Jimmy Carter's decision to relinquish control of the canal. Additionally, Trump reiterated his commitment to swiftly reversing President Biden's restrictions on new oil drilling, particularly offshore, emphasizing a "drill, baby, drill" approach. This announcement follows a recent executive order by President Biden aimed at limiting offshore oil and gas expansion.

President Joe Biden implemented an executive order to restrict oil drilling expansion. (AP Photo/Manuel Balce Ceneta)