Business, Businessman

Know More About Hussain Sajwani; The DAMAC Owner

Becoming a successful investor in any sector is not easy. Real estate sector is one of the sectors that require huge investments and strategies for one to succeed. Hussain Sajwani is one of the most successful real estate investors from Dubai. He owns one of the most popular property development company; DAMAC Properties. The DAMAC owner also owns several other businesses like the catering business; Global Logistics Services. Sajwani received higher education in the USA at the University of Washington where he studied industrial engineering and economics.

 

After higher education, Hussain Sajwani returned to Dubai and got employment at an oil company as a contracts manager. He always wanted to start his own business as he had learned many things from his father who owned a business that sold imported goods from China. After two years, he left the oil company and started a catering business which provided catering services to education institutions and construction sites. He wanted to diversify and saw opportunities in accommodation business. He built first 5-star hotels in Deira to provide accommodation for traders in the city.

 

The DAMAC owner is a strategic investor. He continued to develop properties across the region. Hussain Sajwani started many projects as he had enough capital raised for his catering business and stock market. He invested heavily in the region stock markets between 1997 and 2002 which gave him huge returns. He invested the funds in the development of high-quality properties like Park Towers in DIFC, Executive Heights in TECOM, Marina Terrace, and many others. DAMAC Properties have also developed a golf course managed by Trump Organization, many luxury villas, resorts and apartments.

 

Between October 2008 and April 2009, Sajwani; the DAMAC owner experienced hard times in business. His company was affected by the global economic downturn. With strategies, he was able to come back. DAMAC Properties was listed on the London Stock Exchange in December 2013 which enabled him to raise $379. He used the funds and AED1bn escrow money to invest and finish projects that were underway.