‘The sky is the limit’ on Damac investment in the U.S., property giant’s chief says

DUBAI, United Arab Emirates — The sky’s the limit when it comes to Dubai property giant Damac’s investment in the United States, the company’s chairman told CNBC on Thursday.

Two days prior, President-elect Donald Trump announced a $20 billion foreign investment by the Emirati company to build new data centers across the U.S. — adding that its founder and chairman Hussein Sajwani was pledging “at least” that amount.

Asked by CNBC’s Dan Murphy if he would eventually invest more in the U.S., Sajwani replied: “Well I mean, the sky is the limit, we can invest more, as much as the market takes, then the limitation is not on.”

He added, “we can use initially our own financial resources, but then [in the] second phase we can use third party’s money, if our platform can grow to the next level.”

This breaking news story is being updated.