Hussain Sajwani is the chairman of DAMAC Properties. He founded the company in 2002. The idea of opening the business was propelled by a move of the Dubai government that allowed foreigners to invest in the real estate business. Hussain targeted the non-Emiratis to be the main apartment buyers. He bought land and constructed a 38-story building which he managed to sell its units in less than six months. Since then Sajwani has aided in transforming the image of Dubai into a glittering destination.
Career Background of Hussain Sajwani
Sajwani graduated from the University of Washington. He commenced his career as a contracts manager in GASCO which is a subsidiary of Abu Dhabi National Oil Company. In 1982, he developed his catering venture. Hussain Sajwani was one of the people who pioneered expansion of the real estate industry in the Emirate.
The DAMAC owner helped accommodate the growing population in the Middle East through the building of several hotels and in 2002 he realized the market opportunity in the Middle East and started DAMAC Properties, a company that has grown to become a leader in the property development in the Middle East.
DAMAC Properties is a publicly traded firm, whose shares are freely traded on the Dubai Financial Market. Today, the firm has grown into a 2000 employee company that boasts of the best records in the luxury property development market. It has delivered over 16,800 homes with a development assortment of over 44,000 units at different development stages.
Hussain Sajwani family and President Donald Trump are business partners. They have collaborated in the development of the Trump International Golf Club. The luxury villas at the golf club have racked up to $2 billion in sales. They are also working on developing the Trump World Golf Course, which is designed by Tiger Woods and is set to be open by the end of 2018.
The Philanthropies of DAMAC
The chairman of DAMAC Properties, Hussain Sajwani handed over a cheque of AED two million to an initiative whose aim is to clothe a million less-fortunate children around the world. Hussain contributed to the initiative as a way of offering unending support to the Dubai’s government in improving living standards.
To learn more, visit http://www.damac.com.