Hussain Sajwani’s father was an entrepreneur. Following in his father’s footsteps, very early in his professional career he founded a catering company. One of his proudest achievements with this company was serving food to the United States soldiers who fought in operation Desert Storm. He was given a plaque by the US military thanking him for his outstanding service. In future years his company has been selected to feed American soldiers all over the world including throughout the Gulf, Somalia, and Bosnia. His company has also been used by S&P 500 companies such as Bechtel.
In 2002, Hussain Sajwani could see that real estate was the future of making money in Dubai. The real estate market was just starting to take off in the United Arab Emirate and more and more wealthy foreigners wanted to buy homes in and around Dubai. Hussain Sajwani launched DAMAC Properties so he could take advantage of this opportunity. He had experience in the industry having previously built hotels in Deira. He decided that DAMAC Properties would be focused on building luxury residential properties as well as building upscale retail spaces nearby.
DAMAC Properties has three principals, Hussain Sajwani says. The first is that he won’t go into debt to buy land and instead buys it outright. His second principle is that each escrow account is independent of the others. Finally, he keeps sufficient cash reserves invested in bonds so that if the market turns south DAMAC Properties will be able to continue on its construction schedule anyway.
Including being the DAMAC owner, Hussain Sajwani is also the chairman of the board of the company and its chief executive officer. One of his most recent real estate developments was formed in a partnership with Donald Trump. The development has a golf course as part of it that Trump’s organization manages.
The Hussain Sajwani family lives in Dubai. He has four children. His son, Ali Sajwani, works for DAMAC Properties. His son’s work as a general manager at his company has been exceptional and in 2017 he was named as one of the Future Stars of the Middle East.
To learn more, visit http://hussainsajwani.com/.