DAMAC PROPERTIES, THE BACKBONE TO HUSSAIN SAJWANI’S FORTUNE

Hussain Sajwani is an entrepreneur, the founder and chairman of DAMAC Properties, an organization responsible for creating luxury real estate and using incentives such as a Bentley when one buys a luxury home. He’s a graduate from the University of Washington. He’s worked for a subsidiary of Abu Dhabi National Oil Company, GASCO as a Contracts Manager. Hussain Sajwani then went ahead and created his own catering business in 1982. He’s also responsible for the Dubai’s property market expansion where, in the mid-90s, he built hotels which accommodated people who had come to Dubai for business, trade or leisure.

It’s on this basis that he created the company DAMAC Properties in 2002. He had identified an opportunity in the market and capitalized on it. The company later grew to become one of the largest companies that develop properties in the Emirates. The company has key developments in progress all around the world, while others have been completed in cities like Dubai, Abu Dhabi, London and many others. The organization also trades publicly in the Dubai Financial Market, and have successfully built over 20,000 homes and an estimated 44,000 in development.

Hussain Sajwani also has an investment company, DICO Investments Co., which focuses on investments in acquisitions, mergers and private equities and also has holdings in publicly traded companies while looking for value propositions globally. DAMAC Properties has collaborated with recognizable brands like Versace and Fendi, Bugatti, Paramount Hotels and Resorts and The Trump Organization. The two real estate companies have collaborated to build the Trump International Golf Club.

Sajwani has collaborated with Donald Trump on various occasions, even creating a relationship between their children in the process. Since Trump is in office, he has placed the responsibility of partaking in such dealings as he can’t do so while still in office as this would bring a conflict of interest.

Having DAMAC as a real-estate company doesn’t mean that Hussain Sajwani abandoned the business he did before owning DAMAC. The business is a reminder to Hussain Sajwani about his past and also the importance of having friends with influence. The company is based on the principles of having no debt, each development is independent and retaining cash reserves.

Checkout an interview with Hussain Sajwani: https://lookup.ae/news/9700/interview-with-hussain-sajwani-the-man-behind-damac

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