DAMAC Owner Hussain Sajwani’s Journey To Glory in Real Estate
Hussain Sajwani serves as the chairman of Damac Properties, a luxury real estate company that is based in Dubai. He founded the company in 2002. Before joining the real estate market, Hussain was working with the food services business with his significant customers being a construction giant called Bechtel and the U.S military.
A graduate from the University of Washington, Hussain Sajwani began his career as a Contracts Manager at GASCO. GASCO is a subsidiary of the Abu Dhabi National Oil Company. He worked with the company for a short period before venturing into the catering business.
Forays into the real estate market
DAMAC Owner Hussain Sajwani is one of the pioneering investors after the Dubai property market expansion in the mid-90s. He went on to build several hotels to take care of the influx of people who were coming to the United Arab Emirates to do business. It was in this business that he founded the Damac Properties in 2002 when the UAE allowed foreigners to own properties.
The expertise and experience in development of properties along with the legal, sales, marketing, administration and financing of properties have made him one of the principal investors in the property boom. He invests in many of the big cities around the world that include Abu Dhabi, Dubai, London, Riyadh, Beirut, and Jeddah. Damac Properties has delivered over 20,000 luxury homes in the period it has been in existence. Over 44,000 homes are in various stages of development. The company is listed in Dubai Financial Market.
Deal with Trump
In 2013, Hussain Sajwani through Damac Properties agreed with Trump to build Trump International Golf Clubs in Dubai. The villas alongside the golf course sold nearly $2 billion. While Trump says he will not do any new business while in office to avoid a possible conflict of interest, it is expected that both will do more business in the future. Damac Properties and Hussain Sajwani have been on the forefront in helping the needy around the world. A while back, he donated AED 2 million to help cloth the vulnerable children around the world through Emirates Red Crescent.
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