Real Estate, Real Estate Business

The Eminent Career of DAMAC Owner Hussain Sajwani

Hussain Sajwani is a billionaire real estate mogul and the founder of real estate development firm DAMAC Properties. DAMAC Properties is an arm of DAMAC Holdings that was established in 2002 to develop luxury commercial and private residential estates in Dubai, the United Arabs Emirates. Due to their attention to detail in quality and their creative marketing strategies DAMAC has expanded to the United Kingdom and the broader Middle East.

Hussain Sajwani is a graduate of the University of Washington where he studied engineering and economics. As a young boy, he got a taste of the business world from their family shop where his father would let him run it occasionally. After working briefly for Abu Dhabi National Oil, he quit starting his own venture in catering. From humble beginnings, he grew the company to a capacity of catering for the US military and Bechtel Construction Company.

The collapse of the Soviet Union led to an increased number of visitors coming to Dubai. DAMAC Owner Hussain Sajwani saw this opportunity in the hotel industry and built several mid-range hotels to accommodate the people coming to do business. His big break came in 2001 when Dubai passed a law that allowed foreigners to own property in Dubai. Under his company DAMAC, he established glitzy residential properties and marketed them aggressively. The company is one of the most significant development firms in the world with an impressive track record. It is a publicly listed company whose shares are traded on the Dubai Financial Market.

Hussain Sajwani enjoys a cordial relationship with the President of the US Donald Trump with whom they collaborated with on The Trump International Course in Dubai. Villas there have generated up to $2 billion in sales. He has also joined forces with designers such as Tiger Woods, Versace, Bugatti, Fendi Casa and Just Cavalli. These powerhouses help bring in the much-needed versatility and grandioseness needed for the luxury homes. Sajwani is a philanthropist who supports initiatives that improve people’s standards of living across the world. He recently donated a cheque for 2 million AED in support of providing clothing for needy children across the globe.

See post: https://www.albayan.ae/economy/local-market/2018-02-12-1.3184075