Hussain Sajwani, founder and chairman of Damac Properties, said the company could increase its investment under the right market conditions. AP
Hussain Sajwani, founder and chairman of Damac Properties, said the company could increase its investment under the right market conditions. AP
Hussain Sajwani, founder and chairman of Damac Properties, said the company could increase its investment under the right market conditions. AP
Hussain Sajwani, founder and chairman of Damac Properties, said the company could increase its investment under the right market conditions. AP


Damac data deal is a bold step on the UAE-US tech journey


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January 08, 2025

Even for someone as accustomed to the “art of the deal” as US president-elect Donald Trump, $20 billion must be an eye-catching sum. Nevertheless, Tuesday’s announcement that Emirati company Damac Properties will invest this considerable amount in building data centres across at least eight American states is just the latest step in a long-running and consequential tech and trade journey involving the two countries.

The UAE has embraced artificial intelligence and big data not only as an integral part of its transition to a post-oil economy but as essential tools to developing and maintaining its high-tech society of digital services, advanced health care and smart cities. This transition has not been carried out in isolation, and the US – as the world’s largest economy and home to many leading tech pioneers – has been an enduring and preferred partner in the UAE’s digital evolution.

During last September’s high-profile White House visit by President Sheikh Mohamed, he and US President Joe Biden welcomed an April 2024 partnership between Microsoft and the UAE’s Group 42 artificial intelligence company that involved a $1.5 billion investment from the US tech giant. During the same visit, the US and UAE issued a joint statement about their collaboration on AI. In it, Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Advisor and US National Security Advisor Jake Sullivan highlighted “the importance of deepening bilateral ties and strengthen co-operation between our governments, companies and workforces”.

These were political acknowledgements of the growing commercial, professional and educational relationships that exist in this field between the UAE and the US. According to a report published by the US-UAE Business Council, major American companies such as Amazon Web Services, Oracle, Dell Technologies and Nvidia also forged partnerships with UAE businesses last year. Global chip maker Nvidia, for example, will collaborate with G42 to drive advanced climate and weather predictions using AI-augmented simulations. The companies will also establish a ClimateTech lab in Abu Dhabi that will serve as a hub for research and development. NYU Abu Dhabi is involved in AI research and education, and many young Emiratis are keen to pursue a career in advanced technology.

So far, so promising. However, the potential for this relationship to grow further is considerable. Speaking alongside Mr Trump in Florida on Tuesday, Hussain Sajwani, founder and chairman of the Dubai-based real estate developer, said Damac could increase its investment under the right market conditions. Elsewhere in the Gulf, the rush to embrace a high-tech business future is well underway – in March it was announced that Amazon’s cloud division was to invest $5.3 billion in Saudi Arabia and develop data centres there next year. In neighbouring Bahrain, a data centre park spread over a 55,000 square metre site is being built in Al Qurain, and market research agency Arizton Intelligence says the kingdom’s data centre market could be worth more than $290 million by 2029.

The US – as the world’s largest economy and home to many leading tech pioneers – has been an enduring and preferred partner in the UAE’s digital evolution

Technology is a rapidly developing sector and although partnerships are important, the pace and scale of changes should not mean they are exclusive. UAE companies work well with American counterparts but remain open to opportunities elsewhere. In March, Abu Dhabi set up a new technology investment company, MGX, to expedite the development of AI and other advanced technology and in November, Adnoc and Abu Dhabi clean energy company Masdar signed a collaboration deal with Microsoft on AI-driven sustainability and decarbonisation initiatives. In February, Khaldoon Al Mubarak, the chief executive of Mubadala Investment Company – a keen investor in AI and other technologies – said investments would be based on attractiveness of opportunities in key markets, not geopolitical considerations.

To sign a $20 billion deal on the eve of Mr Trump’s second presidency is undoubtedly a significant achievement and another vote of confidence in Emirati business. In a rapidly changing world, progress will lie on such fruitful partnerships continuing.

While you're here
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

Tailors and retailers miss out on back-to-school rush

Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”

A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.

“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”

Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket
Uefa Champions League play-off

First leg: Wednesday, 11pm (UAE)
Ajax v Dynamo Kiev

Second leg: Tuesday, August 28, 11pm (UAE)
Dynamo Kiev v Ajax

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

ADCC AFC Women’s Champions League Group A fixtures

October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA

Things Heard & Seen

Directed by: Shari Springer Berman, Robert Pulcini

Starring: Amanda Seyfried, James Norton

2/5

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

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Updated: March 19, 2025, 9:48 AM`