In 2002, the United Arab Emirates ordered the country’s business sector to help with their plans of transforming the city of Dubai to become the Middle East’s commercial and tourism hub. After a decade, their dreams turned into reality, and Dubai is now considered as one of the richest cities in the region, visited by millions of tourists every year because of the countless activities that the country offers to their guests. Apart from the transformation of Dubai into a premier investment location, local property developers are also credited for changing the city into what it is today. Hussain Sajwani, an Emirati billionaire, assisted the government by building skyscrapers in the city through his real estate and property development firm called DAMAC Properties.
DAMAC Properties was founded in 2002, and it was Hussain Sajwani’s answer to the government’s plea of helping them transform the city of Dubai. DAMAC Properties built skyscrapers all over the city, offering residential and commercial options to those who wanted to invest in the project. According to Ebizine, The company was well-received, even by the neighboring countries. After the success of transforming the city, Hussain Sajwani was sent many invitations from foreign real estate developers, asking his company to be their official contractor for construction projects. DAMAC Properties started to construct buildings in some of the major cities all over the Middle East, and they even reached Europe after a project based in London was given to the company.
DAMAC Owner Hussain Sajwani has become the country’s most successful real estate developer, but he stated that he would never stop. He will continue to expand his business empire, dealing with several business people around the world to invest in various ventures that would multiply his wealth. Recently, the wealthy Emirati businessman opened his new resort in Dubai, and it was attended by the family of United States President Donald Trump since he was one of the investors of the said property. Hussain Sajwani keeps a strong bond with the Trump family, and he stated that more collaborative projects between DAMAC Properties and Trump’s companies would be constructed in the sprawling tourist city. Other than focusing on his business, Hussain also make sure to give back by supporting the needy children.
Visit this website: www.saudiprojects.net
Hussain Sajwani is the face behind the reputable global property development company, DAMAC Properties. He serves as the Founder and Chairman of the company. Sajwani is an Industrial Engineering and Economics graduate from the University of Washington. He and his wife have four children. Sajwani lives in Dubai, in the United Arab Emirates.
DAMAC Properties emerged as the leader on the Global 2000 list of Forbes 2017. The list looks into the fastest developing companies globally. Consequently, the 2018 Forbes rankings presented Hussain Sajwani as number four among the richest Arabs. He has a net worth of 4.1 billion dollars.
The DAMAC owner traces his career at the Abu Dhabi Gas industries where he worked at the finance department in 1981. He later ventured into the catering industries, with his business primarily serving the U.S military and Bechtel. Over the years, the venture has seen extensive growth, taking the lead in the market. It has over200 projects under its management.
Being one of the main people to start property market expansion in Dubai, Hussain Sajwani was able to identify a gap in the market. As a result, DAMAC Properties was established in 2002. Today, the company takes pride as one of the largest real estate development firms in the Middle East, serving a global market. The company has successfully managed many projects across many cities from Dubai to London. Some of these projects include the Tiger Woods’ design golf course, under Trump’s Organization management. Additionally, there is Paramount Hotels and Resorts with the Paramount Pictures themes as well as Bugatti style luxury villas among others. Moreover, the company was publicly listed in 2015 with shares traded on the Dubai Financial Market.
The idea behind the establishment of DAMAC Properties lies in Sajwani’s entrepreneurial background since his childhood. He also sold time-share apartments while at University which enhanced his passion and skills in the real estate industry. His job at the Gas industries and the food business served as a strong base for his property development company. As such, Sajwani’s entrepreneurial skills and ability to transform ideas to life are the driving force towards the company’s great milestones and sustainability.
The DAMAC owner is also an investor. He has a successful record in the global equity and capital records.
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