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.