Hussain Sajwani is a power to be reckoned in business. His name is echoed in the United Arab Emirate. He is known for his Damac property investment which has different types of properties under it. He has done business with Donald Trump in the golf business in UAE. Previously, he worked as a food supplier which was supplied both in the USA and also in Dubai.
Hussain Sajwani created the Damac properties in 2002 after observing that his food company was not giving him as much as he expected. With six years in the property business, the market started slowing, which made Hussain Sajwani to reduce the price of his business to make the chances of collapsing slim. He was able to monitor his cash flow and also remove properties that were not profitable.
Damac properties came up with three principles to govern its operations; to have all property paid at the beginning of the project, all escrow accounts to work independently and thirdly have government bonds in a fixed deposit account.
Hussain Sajwani family business will be succeeded by his son who is currently studying in the US. This will happen when he completes his education and is ready for business. A proper structure on how the company will be run for several years has been laid out.
Damac properties has it’s headquarter in Dubai but does not restrict its services to the area alone. The Damac owner has had the rare opportunity of partnering with big names. He has for instance partnered with Tiger Woods in creating an international golf club which makes more than two billion sales yearly.
The impeccable career of Hussain Sajwani began shortly after he graduated from the Washington University. Mr. Sajwani first joined the GASCO as contract Manager shortly before opening his catering company in 1980. His current company deals with building properties for people either residential or commercial.
He has merged the DICO investment company which focuses on investment and has seen projects globally. He has donated two million shillings to cater for the needy across the world. His company is the largest in the Middle East.
Connect with Hussain Sajwani on LinkedIn.