When you think luxury hotels and residential developments in the UAE and beyond think DAMAC Properties and its’ founder, Hussain Sajwani. The billionaire has created a vast empire of high end residential developments, 5 star hotels, and 2 world class golf courses managed by The Trump Organization. Hussain Sajwaniand and his family have built a friendship and great working relationship with President Trump and his family.
Hussain Sajwani started in business on 1982 when he launched a catering venture to service companies within the energy sector. The company grew landing military contracts to feed our troops in the first Gulf war as well as contracts with other large corporations, such as Bechtel Corp.
In 2002 Hussain Sajwani saw significant opportunities in real estate in Dubai and launched DAMAC Properties. DAMAC is focused on top range luxury developments and has delivered over 19,855 units to date with another 44,000 units in the pipeline.
DAMAC survived the 2008 crash and rebounded in great shape by May 2009 in large part due to Hussain Sajwani’s leadership. During the crisis he adopted a strict cost cutting and cash preservation regime. As they moved forward Hussain Sajwani adopted three principles that would allow DAMAC to weather any future downturns. First, their land holdings are all debt free. Second, all escrow accounts for projects are held separately and each development must support itself. And finally, the company retains cash reserves to the construction schedules should the market take a turn.
Along with the catering and development divisions DAMAC also has a hospitality division, DAMAC Maison providing five star luxury and service in over 15,000 rooms making it one of the regions largest hotel developers and operators. Hussain Sajwani also launched Dico Investments with a focus on investing in private equities, mergers, and acquisitions.
Hussain Sajwani’s is an active philanthropist giving to many charitable causes. One such cause was that of the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum to cloth a million disadvantaged children around the world. Mr. Sajwani donated AED 2 million to the cause which was enough to cloth 50,000 children.
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