President-elect Donald Trump announced another major foreign investment into the country's economy from his Florida home Tuesday morning.

Trump introduced Hussain Sajwani, the founder and chairman of DAMAC Properties, after announcing that the Middle East company is investing $20 billion to build data centers for the AI and cloud business across the U.S.

According to the incoming president, the data centers will be located across the Midwest and the Sun Belt area.

Trump said he believes DAMAC Properties' will "keep America on the cutting edge of technology and artificial intelligence."

The first phase of the newly announced investment will begin in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, according to Trump.

Sajwani told reporters at the news conference at Mar-a-Lago that Trump being elected was "amazing news for me and my family."

"We're very, very excited now with his [Trump] leadership and his open strategy and policy to encourage businesses to come to us," Sajwani said.

The Emirati businessman also said that his company may invest more than the already $20 billion promised to the U.S. if "the market allows us."

According to Sajwani, DAMAC Properties also operates in 20 countries, delivering more than 45,000 luxury units and another 45,000 in the pipeline in data centers.

While Trump has sought to portray these announcements as a source of newfound energy in the U.S. economy, the $20 billion commitment is also a sign that wealthy investors close to Trump can profit off that relationship, given the already significant investment in new data centers.

In October, the financial company Blackstone estimated that the U.S. would see $1 trillion invested in data centers over five years, with another $1 trillion being committed internationally. The commitment made by Sajwani could represent just 2% of the total expected domestic investment in the sector.

Sajwani would gain data centers in the United States, which thus far have not been part of his company's EDGNEX data center portfolio. According to the company's website, it already has or plans to build data centers in the UAE, Saudi Arabia, Turkey, Spain, Thailand and Indonesia.

DAMAC Properties is one of the top private developers in the skyscraper-studded city-state in the United Arab Emirates.

The property developer has been a Trump partner. Under Sajwani, DAMAC built the Trump International Golf Club at a massive development in the city’s desert outskirts just before Trump first entered the White House.

DAMAC also paid a licensing fee worth millions back to the Trump Organization, following a pattern the president-elect's company has used in developments both in the U.S. and abroad.

There had been plans for another DAMAC development further in the desert that would have a Trump-named golf course. However, DAMAC later dropped plans for the golf course at the development. Also, discussions for a promised $2 billion in deals between DAMAC and the Trump Organization after his first electoral win in 2016 never materialized.

Sajwani has said that Trump's initial election to the presidency helped increase the profile of his company.

Since Trump’s re-election in November, Sajwani has been seen at Trump’s Mar-a-Lago estate in Florida. He posted a picture standing between a seated Trump and billionaire Elon Musk at a New Year’s Eve celebration.

However, the Trump Organization since has been involved with Dar Global, a Saudi-funded real estate firm that’s building a Trump-branded golf course in Oman and Trump projects in Saudi Arabia.

There are plans for a Trump Tower in Dubai as well, though previous plans for a Trump Tower on Dubai’s man-made Palm Jumeirah archipelago fell apart during the city’s financial crisis that began in 2008. _

Tuesday's news conference is Trump's first remarks after Congress certified the 2024 presidential election.

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