DAMAC, a real estate developer based in Dubai, recently secured U.S. land and power capacity worth $12 billion for AI data centres. This move puts the company more than halfway toward its planned $20 billion expansion in America.
Speaking at the World Economic Forum in Davos, founder Hussain Sajwani said, “We have today about 1GW of land, which, if you translate into total investment, would be about $12 billion,” adding it will take “two to four years” to reach the full target. The investment, made through DAMAC’s digital arm Edgnex, was first announced in early 2025 alongside US President Donald Trump.
AI data centres are now constrained not by capital, but by electricity and land. Locking in one gigawatt of power-ready sites gives DAMAC a serious advantage in a market where Big Tech, cloud providers, and AI labs are scrambling for capacity. Trump called Sajwani’s commitment “an honour”, saying it would help keep the US “on the cutting edge of technology and artificial intelligence.” DAMAC’s early site acquisitions in Ohio and New Jersey, with Texas under review, place it at the heart of America’s fast-growing AI infrastructure race.
What’s Next?
Execution is now the key risk. Analysts will watch how quickly DAMAC turns land into operating data centres, especially as power grids tighten and competition from hyperscalers intensifies. Sajwani’s high-profile Davos meetings, including an “insightful lunch” with Bill Gates, signal ambition beyond real estate, positioning DAMAC as a long-term player in the global AI economy.
Source: Smashi Business
Image Credit: Stock Image
