Growing a company to a greater magnitude requires a combination of passion and determination. Hussain Sajwani, the founder of DAMAC, is a seasoned entrepreneur whose success in the world of entrepreneurship tells a pleasant story on the Forbes. Founding DAMAC properties way back in 2002 is one of the achievements that he greatly prides himself for.
Hussain Sajwani was born in 1952 to an entrepreneur father who had a small shop dealing in parker pens, watches, and shirts. His father also sold goods that were imported from China. Being among the lucky few, Sajwani was privileged to be sent by the government to the United States where he studied at the University of Washington. He successfully graduated with a Bachelor’s Degree in Economics and Industrial Engineering.
Elmawkefalarabi.com says that after spending hardly two years in Abu Dhabi Gas Industries, working in the finance department, Hussain Sajwani started a Catering business in 1983. His catering business is well known for having offered excellent catering services to the U.S. Army when at war. It is from this business whose name has since been changed to Global Logistics Services, that Sajwani later established DAMAC properties.
From 2002, the DAMAC owner has channeled a lot of efforts towards developing the company to greater heights. At the moment, DAMAC properties is featured among the top property development companies in the Middle East. In addition to having set up approximately 19,000 apartments, DAMAC properties also has well over 40,000 units that are at different stages of development. The company got a public listing in 2015, a step that saw its shares traded on the Dubai financial market. In 2017, the DAMAC owner, Sajwani’s name was listed by Gulf Business to be among the top 100 most influential Arabs in the world. In the same year, DAMAC properties also got ranked by the Forbes as position one in the Global 2000 list.
Hussain Sajwani is the current chairman of DAMAC properties. He is also featured as the biggest shareholder. Under his focused leadership, the DAMAC owner has made an immense contribution to the company’s growth. DAMAC now develops properties in the better part of the Middle East, GCC, and the United Kingdom. This year, Sajwani was ranked as the fourth richest Arab with a portfolio of $4.1 billion.
Hussain Ali Habib Sajwani, a native of United Arab Emirates, is the founder and CEO and chairman of the Board of DAMAC Properties. He received a degree in business and specialized in Economics from the University of Washington. Sajwani joined GASCO as a Contracts Manager. He later decided to found his own business, DAMAC properties.
He founded the residential real estate company in 2002. DAMAC Properties has its headquarters is in Dubai. DAMAC started as a food catering company serving the Middle East, Northern Africa and Europe. In 1990, DAMAC Group was the primary food supplier to the U.S military. Hussain Sajwani still owns the food service firm today.
In 2002, DAMAC Group ventured into the real estate industry. Sajwani’s target market was the non-Emiratis after a law had been passed by the Dubai government allowing foreigners to possess property in the region. DAMAC Properties is one of the best luxury, residential and commercial property developers. DAMAC has constructed more than 18,500 homes 13,000 hotel rooms and 40,000 units are in progress.
Hussain Sajwani, the DAMAC Owner, has a business and friendship relationship with the U.S president, Donald Trump. The two real estate business partners are hoping to enhance their trade relationship through Donald Trump’s real estate firm. The two business icons have already collaborated in making the Trump International Golf Club a success whereby the racks have summed up about $ 2 billion in sales made and the Trump World Golf Course designed by Tiger Woods which will start working in 2018.
According to roayahnews.com, the two families spend time in New York having lunch and dinners regularly, Sajwani also attended the opening of Trump’s Washington hotel. Hussain Sajwani family attended Trump’s New Year Eve Celebration in Mar-a-Lago where Trump referred to them as the most beautiful people. Sajwani’s family is positive that in future they will continue their productive business relationship with Donald Trump.
Hussain Sajwani being a generous giver has participated in supporting different organizations. Hussain Sajwani donated AED 2 million to provide clothing to more than 50,000 children during a launch by the Ruler of Dubai. DAMAC Properties contributed AED 1 Million in the UAE compassion campaign to support refugees in Lebanon and Jordan. The DAMAC owner is passionate about providing dream homes and luxurious buildings to clients globally.
Hussain Sajwani is a successful entrepreneur, his journey in business goes back to 1982. When he joined the catering venture, Hussain’s business became a great success and has become a global enterprise that supplies food in the middle east and Africa. Hussain Sajwani is also the owner of DAMAC properties which was established in 2002.
After working in the food industry, Hussain discovered there was a gap in the hotel industry. He decided to enter the real estate industry and develop luxurious hotels for both locals in his country as well as foreigners. This vision has turned out to be a great success, and Hussain Sajwani not only deals with hotels but has also developed luxurious apartments, as well as business areas.
DAMAC was one of the first development companies to be introduced to the Middle East Market, over the years Hussain has learned the drills and has even developed the business to thee countries. His exceptional business skills have contributed significantly to the success of his career. Hussain has also worked with global designers and stepping out of the box has made him stand out in real estate business.
As an entrepreneur, Hussain explains his favorable towards setbacks,. Hussain believes that the failures he encountered before have played a crucial part in shaping his success today. Hussain also recognizes the importance of working with a qualified and dedicated team. Once he has an idea he discusses the details with his management and this has helped him to actualize the vision for his business.
For an entrepreneur to remain productive, it is essential to identify one habit that makes you stand out, for Hussain Sajwani, the DAMAC owner, traveling and experiencing different cultures and lifestyles has helped open his eyes to new opportunities.
The site akhbarak.net says that another habit that has contributed to Hussain’s growth is reading. Successful people are always seeking knowledge and Hussain has adapted this attribute. He not only reads about business but also enjoys studying history.
Hussain Sajwani’s advice to upcoming entrepreneurs is to have a definite beginning. This has helped him to succeed, ensuring that your employees share in your dreams is one of the ways to ensure you are on the right track.
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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.
The Hussain Sajwani family are a Dubai based developer. He is the founder and owner of DAMAC properties a public company he founded in 2002. It is involved in a range of businesses such as engineering, construction, architecture and real estate. Throughout its existence, the company boasts of numerous developments in creating Middle East’s most impeccable residential, leisure and commercial properties. Recently, the company has included food business in its operations probably to pursue his initial catering idea and build a business fortune out of it. His business model is propelled by his three main ideologies. Firstly, there should be no debt for land. Second financial independence and third every business venture should be self-sustaining and should not depend on cash support from other accounts.
The 64-year-old University of Washington graduate and DAMAC owner has come a long way his current position. He began as a contracts manager in GASCO a subsidiary company of Abu Dhabi national oil company. In the 1980’s he quit this position and ventured into catering business where he offered catering services to workers in the energy sector in Abu Dhabi. He used his aggressive marketing skills and founded this giant global property development company. He is known for his new and exciting concepts in developing high-class commercial, leisure and commercial properties that are well designed and dominate the market as serious lifestyle brands.
His wisdom in choosing business partners can’t escape notice. He cultivates friendship in high places locally and internationally. The Dubai, billionaire hopes to do more business deals with the Trump Organization a real estate firm owned by American President Donald Trump. This comes after the two tycoons successfully partnered in constructing the Trump international golf club that has registered significant sales despite the high cost. The two are mindful of their business empires, family and Trump’s role as president of America. Their deals are professional and conform to all local and international regulations. Besides, they do not stem solely from the business but from time tested friendship between their families. All their business deals are aimed at growing further their businesses and friendships as witnessed when the families celebrated New Years eve together.