Bloomberg Audio Studios, podcasts, radio news. The Dubai property group DAMAK will be investing twenty billion dollars in new US data centers. The President's elect unveiled the deal alongside DAMAK founder an Cha Hussein Sejuani from mar Lago.

Bloomberg Audio Studios, podcasts, radio news. The Dubai property group DAMAK will be investing twenty billion dollars in new US data centers. The President's elect unveiled the deal alongside DAMAK founder an Cha Hussein Sejuani from mar Lago.

The first phase of the project will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana. Those places, and who's saying, I'd love you to come up and say a few words. Thank you very much, thank you, thank.

The first phase of the project will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana. Those places, and who's saying, I'd love you to come up and say a few words. Thank you very much, thank you, thank.

You, thank you, miss our president. It's been amazing news for me and my family when he was elected in November.

You, thank you, miss our president. It's been amazing news for me and my family when he was elected in November.

Sejjuani, mar a Lago earlier on this week. Now back in Dubai and joining us from there, Good morning, Thank you very much, indeed for your time. Let's talk about the deal that was announced earlier on this week. A lot of details obviously still need to be ironed out. I suspect, but when are we going to see ground being broken? When are these data centers gonna be built?

Sejjuani, mar a Lago earlier on this week. Now back in Dubai and joining us from there, Good morning, Thank you very much, indeed for your time. Let's talk about the deal that was announced earlier on this week. A lot of details obviously still need to be ironed out. I suspect, but when are we going to see ground being broken? When are these data centers gonna be built?

As you appreciate, the announcement is only last less than forty eight hours, where me and my team are working very hard. We had already some discussions with a number of land owners in different parts of the States. The team is working and we hope sometime this year we'll be announcing some oppositions of lands and then of course we'll follow that design and construction. So there is a lot of work that we have to do to invest the twenty billion dollar.

As you appreciate, the announcement is only last less than forty eight hours, where me and my team are working very hard. We had already some discussions with a number of land owners in different parts of the States. The team is working and we hope sometime this year we'll be announcing some oppositions of lands and then of course we'll follow that design and construction. So there is a lot of work that we have to do to invest the twenty billion dollar.

Twenty billion dollars, that's a substantial amount of money. How are you funding this deal? Can you provide specific details on where that twenty billion is coming from?

Twenty billion dollars, that's a substantial amount of money. How are you funding this deal? Can you provide specific details on where that twenty billion is coming from?

As you appreciate, this is an acid base business infrastructure. Normally sixty to seventy percent you borrow from the banks or promise financial institutions or bonds leverage. Dem at Property will be able to put the equity which will be in the range of the other thirty percent, which will be a bound five to six billion dollar. Demat Property is balanceship today is capable of producing that money in the coming four years for its own resources.

As you appreciate, this is an acid base business infrastructure. Normally sixty to seventy percent you borrow from the banks or promise financial institutions or bonds leverage. Dem at Property will be able to put the equity which will be in the range of the other thirty percent, which will be a bound five to six billion dollar. Demat Property is balanceship today is capable of producing that money in the coming four years for its own resources.

Having said that, if the opportunity increases and we get more opportunity, will be more than happy to bring their party partners with us.

Having said that, if the opportunity increases and we get more opportunity, will be more than happy to bring their party partners with us.

Who's saying it's creedy in London when you talk about those third party partners who are you talking about specifically? Are there banks, for example, that you have in mind.

Who's saying it's creedy in London when you talk about those third party partners who are you talking about specifically? Are there banks, for example, that you have in mind.

Were already talking first our first line is to talk to partners in US who will bring added value. If they are in the construction business, they are in the land business, they're in the power business. So first we're looking at added value partner not just to bring money, but to bring to help us to execute in this business. That will be the first choice.

Were already talking first our first line is to talk to partners in US who will bring added value. If they are in the construction business, they are in the land business, they're in the power business. So first we're looking at added value partner not just to bring money, but to bring to help us to execute in this business. That will be the first choice.

So who's saying part of this announcement with certain states that your investments are targeting lights of Michigan, Illinois among others Texas for example, are there specific players within those states that might help you get to those investment plans?

So who's saying part of this announcement with certain states that your investments are targeting lights of Michigan, Illinois among others Texas for example, are there specific players within those states that might help you get to those investment plans?

Indeed, indeed, I mean we are open to all the options to execute the business plan from partners who are in their business or who will help grow their business.

Indeed, indeed, I mean we are open to all the options to execute the business plan from partners who are in their business or who will help grow their business.

When it comes to those kind of partnerships, though, is state funding something that we're talking about. We know that Donald Trump, for example, has already asked you to double the investment, not just keep it at twenty billion, and go further. If you're talking about further investment in the United States, how much further do you have a number on that.

When it comes to those kind of partnerships, though, is state funding something that we're talking about. We know that Donald Trump, for example, has already asked you to double the investment, not just keep it at twenty billion, and go further. If you're talking about further investment in the United States, how much further do you have a number on that.

I don't have a number on that. But as you know, it's a market and it's an opportunity today with AI data centers. Appreciate the business data center is growing in more than double digit and there is a huge growth there. So if we find the right opportunity, the right partners, I think we have the capability to take their business further beyond the twenty.

I don't have a number on that. But as you know, it's a market and it's an opportunity today with AI data centers. Appreciate the business data center is growing in more than double digit and there is a huge growth there. So if we find the right opportunity, the right partners, I think we have the capability to take their business further beyond the twenty.

Billion for saying good morning, it's Lizzie here in London as well. I know that the UKAE has gone big on AI investments over the past couple of years. Will the government be helping in any way or backing this project?

Billion for saying good morning, it's Lizzie here in London as well. I know that the UKAE has gone big on AI investments over the past couple of years. Will the government be helping in any way or backing this project?

No, we're not talking at the moment to any government backing. We're talking, as I said, to landowners and then to potential partners.

No, we're not talking at the moment to any government backing. We're talking, as I said, to landowners and then to potential partners.

But is the WW government supporting you?

But is the WW government supporting you?

By the moment, We're not looking at any support from any government things. It's going to be very much commercial business plan.

By the moment, We're not looking at any support from any government things. It's going to be very much commercial business plan.

Sorry to clarify.

Sorry to clarify.

Are they aware?

Are they aware?

Of course, everybody knows about it, and they were aware of our intention to invest globally. As you appreciate, we have already a data center under construction in three countries in Asia, three countries in Europe, Middle East. We are in more than ten countries around the world, covering Indonesia, Jaka, Indonesia, Thailand and Malaysia, Greece, Spain, and Italy coming next, Hussain.

Of course, everybody knows about it, and they were aware of our intention to invest globally. As you appreciate, we have already a data center under construction in three countries in Asia, three countries in Europe, Middle East. We are in more than ten countries around the world, covering Indonesia, Jaka, Indonesia, Thailand and Malaysia, Greece, Spain, and Italy coming next, Hussain.

In your press conference with Donald Trump, you specifically made the comment that you've been waiting for years to invest in the AI space in the United States. You specifically said you've been waiting for four years to invest in the AI space between the election of Donald Trump and the administration of Joe Biden. Several of your other counterparts around the world have already been investing in AI in a big way. What has changed fundamentally to incentivize this move from you?

In your press conference with Donald Trump, you specifically made the comment that you've been waiting for years to invest in the AI space in the United States. You specifically said you've been waiting for four years to invest in the AI space between the election of Donald Trump and the administration of Joe Biden. Several of your other counterparts around the world have already been investing in AI in a big way. What has changed fundamentally to incentivize this move from you?

In the last four years, we have invested more than and committed about two billion dollars in the private equity and in some direct deals like we are investor in XAI, in open Ai, you know, in the space x and we are more than sixty funds in the US. So we're not to stop investing, but we were investing through funds, investing directly. We wanted to see more friendly government who encourages the foreign investments, and we feel is the right time.

In the last four years, we have invested more than and committed about two billion dollars in the private equity and in some direct deals like we are investor in XAI, in open Ai, you know, in the space x and we are more than sixty funds in the US. So we're not to stop investing, but we were investing through funds, investing directly. We wanted to see more friendly government who encourages the foreign investments, and we feel is the right time.

Now there saying just coming there's kind of quick kind of quick questions just returning to the issue of funding. The funding is you are one hundred percent guaranteeing that the funding exists for this deal, that it's already in place, that you secure that funding, that you are ready to go. That's my first question is that a yes or no answer. Is the funding in place?

Now there saying just coming there's kind of quick kind of quick questions just returning to the issue of funding. The funding is you are one hundred percent guaranteeing that the funding exists for this deal, that it's already in place, that you secure that funding, that you are ready to go. That's my first question is that a yes or no answer. Is the funding in place?

The funding, our equity is in place. That debt will come as we go and as we build those data centers.

The funding, our equity is in place. That debt will come as we go and as we build those data centers.

That brings me on to the second point. You say you're going to build them. Are you going to build them or are you going to do the land deals and then let somebody else build them? Is that the way the model is going to work.

That brings me on to the second point. You say you're going to build them. Are you going to build them or are you going to do the land deals and then let somebody else build them? Is that the way the model is going to work.

No, the model is we buy the land, we hire a designer, and then we hire a contractor who will build it, and then we lease it to the hyper scalers.

No, the model is we buy the land, we hire a designer, and then we hire a contractor who will build it, and then we lease it to the hyper scalers.

Whosaying, speaking of the hyperscalers, are there customers that you have in mind when it comes to who may, at the end of the day be some of the buyers of these data centers?

Whosaying, speaking of the hyperscalers, are there customers that you have in mind when it comes to who may, at the end of the day be some of the buyers of these data centers?

You mean, you mean they're lazy. We're not going to sell at the center, but we're going to lease them. We're gonna we're gonna lead them to the hyper scaler, which are non Amazon, Microsoft, Google or a kill you and some large fourteen five hundred companies IBM and adults.

You mean, you mean they're lazy. We're not going to sell at the center, but we're going to lease them. We're gonna we're gonna lead them to the hyper scaler, which are non Amazon, Microsoft, Google or a kill you and some large fourteen five hundred companies IBM and adults.

Have you started having those conversations with them.

Have you started having those conversations with them.

We were having conversation with them about Asia and Europe for the last twelve months, and we have quite advanced in negotiation with some of them to finalize a deal and part of where we have data centers already.

We were having conversation with them about Asia and Europe for the last twelve months, and we have quite advanced in negotiation with some of them to finalize a deal and part of where we have data centers already.

But when it comes to some of those negotiations, why not already have those investments in the United States again with the same players that you're working with in Asia and Europe as well. You made the comment of now having a friendlier government in place in the United States that is friendlier to foreign investment. Someone argued, that's the exact opposite message that Donald Trump is giving. Why not invest in the US earlier? Aren't you coming a little bit late to the game here?

But when it comes to some of those negotiations, why not already have those investments in the United States again with the same players that you're working with in Asia and Europe as well. You made the comment of now having a friendlier government in place in the United States that is friendlier to foreign investment. Someone argued, that's the exact opposite message that Donald Trump is giving. Why not invest in the US earlier? Aren't you coming a little bit late to the game here?

No, we're not late in the game because this AI business already started only last eighteen or twenty four months, and we've been quite focused on Asia and Europe in the year twenty three twenty four and now our focus is going to be heavily on us.

No, we're not late in the game because this AI business already started only last eighteen or twenty four months, and we've been quite focused on Asia and Europe in the year twenty three twenty four and now our focus is going to be heavily on us.

Saying in terms of those potential customers, have you spoken to or met with Samuel Man and Elon Musk.

Saying in terms of those potential customers, have you spoken to or met with Samuel Man and Elon Musk.

Yeah, we were together there at the New Year on the same you know in Marie Lago and is an amazing gentleman with a vision and of course you know his accomplishments. We are already investor in these companies face X and XI.

Yeah, we were together there at the New Year on the same you know in Marie Lago and is an amazing gentleman with a vision and of course you know his accomplishments. We are already investor in these companies face X and XI.

It's about Selon Musk. Have you met sam Oltman? Ad sam Oltman?

It's about Selon Musk. Have you met sam Oltman? Ad sam Oltman?

No, I don't remember anybody like that.

No, I don't remember anybody like that.

All right, Damax founder and chairman, who's say Delajuani. We will leave the conversation there. We thank you so much for your time and of course look forward to getting the updates on what that data center investment actually looks like.

All right, Damax founder and chairman, who's say Delajuani. We will leave the conversation there. We thank you so much for your time and of course look forward to getting the updates on what that data center investment actually looks like.