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Hussain Sajwani knew in 2002 Dubai’s future was in property. The company he established is called DAMAC Properties and is strongly associated with exceptional marketing stunts and building magnificent golf courses with Donald Trump. Hussain Sajwani did not begin his career in properties but in the industry of food service. Long before DAMAC existed, he had served the food service needs during Desert Storm for the United States Army. He has worked for Americans in the Gulf, Bosnia and Somalia.
DAMAC remains a part of Hussain Sajwani‘s operations as a reminder of the importance of cultivating important friendships. His skills are being used well as the UAE property prices are recovering. He is considering using the London Stock Exchange as a venue for an initial public offering. Hussain Sajwani believes there are numerous options available for DAMAC. His company has a low debt ratio and a cushion of bonds and cash. This may lead to expansion or provide additional funds for the business owners. He is leaving his options open.
Dubai was at the beginning of a six year boom in real estate when he decided the future was in property. In 2002, DAMAC properties emerged and it was far from being mid-market. Hussain Sajwani build extraordinary developments and employed aggressive marketing. His key to the business model was off plan sales. He was one of few who realized there was a crash coming in 2008. The precautions he took preserved his cash and decreased his costs. He was out of the woods the very next year. Hussain Sajwani survived the crises by controlling his costs, being careful with his cash, reigning in certain projects and using strict measures for buyers in bad situations.
According to an interview with CNBC, Hussain Sajwani does not believe DAMAC is in any danger because he does not feel the property bubble in Dubai is inflating again. He has stated the market is different now due to the tough new conditions imposed by the Dubai property regulator on escrow accounts and land sales. His business model has three basic principles. He will not hold debt for land. He ensures all escrow accounts remain independent. He retains cash reserves for DAMAC.
Read this: https://www.forbesmiddleeast.com/en/tag/hussain-sajwani/
When you get a free Bentley from every Apartment you buy then you know you are buying into luxury. This is what Dumac Group are for know all around the Middle-East.
Dumac invests millions of dollars and partners with a top portfolio to make state of the art apartments, villas and luxuries all over the world. Some of the luxurious houses that Damac has financed include the over 600 million dollars Aykon One Tower built 9 Elms. Versace was selected to add the luxury touch to the tower. They have also worked with Paramount Pictures to create the Paramount hotels and resorts. However, the biggest name that Damac has worked with is the President of the United States, Donald J. Trump.
Damac Group partnered with the Trump Organization to create the Trump International Golf Club. This was a piece of art. Designed by the golf legend, Tiger Woods, Versace, and Fendi. The internal decoration was undertaken by Bugatti. The project has currently raked in 2 billion dollars. Hassan Sajwani has led the company in building commercial and residential projects throughout middle-east and Europe.
The Trump family and the Chairman of Dumac plan to build further projects in the future. The companies currently boast of 20,230 homes and another 44,000 units are underway. However, the man to be credited with this success is none other than Hussain Sajwani.
He is the chairman, CEO, and founder of Damac group. The University of Washington graduate started as a contract manager in the National Oil Company in Abu Dhabi. He was not to stay in that position for long, the entrepreneurial skills he had gotten from his father who was a Watch seller led him to start a catering service business that still exists. Later, he moved to get into the property business in the Mid-90s, before Sajwani established Damac in 2002. Sajwani also leads the DICO Investment Co.LLC.
Hussain Sajwan has led a company to be considered the best in the world by Forbes, but this has not stopped his philanthropic hand from giving. Through the Damac Foundation, Hussain Sajwani sponsored the One Million Arab Coder Initiative. The launch achieved high publicity and admiration that it was launched by the ruler of Dubai, Sheikh Mohammad bin Rashid Al Makhtoum.
Hussain Sajwani Online:
Those who are in the business of real estate understand how complicated this field can be. For starters, there is always a new terminology that poses a challenge for beginners. Then, there are times when the business experiences different market shifts that can be difficult to comprehend. For that reason, it is prudent for real estate entrepreneurs who involve a mentor. In this scenario, Hussain Sajwani is a perfect description of a role model who utilizes his entrepreneurial capabilities to grow his business.
Sajwani was born in the Middle East. He grew up in the same area. At that tender age, he worked closely with his father in his retail shop. Mr. Ali loved his son. Moreover, he wanted him to take over the business when he grew up. However, Sajwani the DAMAC owner aspired to pursue personal choices in career. Therefore, instead of inheriting his father’s business, he decided to focus on school then delve into a job.
Being a smart student, Hussain Sajwani went to the Washington University where he majored in engineering. To advance his knowledge, he also further enrolled in economics. From school, he was lucky to land a job at GASCO, a prominent oil, and gas supplying firm in Abu Dhabi. From that moment, he decided to start working on creating firm as well as substantial business ties with his colleagues. Moreover, the DAMAC owner decided to start a catering company where he served about 800 clients or more in a day. What is more, he used the company to help the less fortunate by providing them with food, shelter, and clothing. Moreover, he thought it wise to establish another business in a different sector.
This time, Hussain Sajwani focused on real estate. Therefore, he pulled together all his resources and started DAMAC Properties. With the company, he has been able to supply the residential and commercial property development needs of different clients. Moreover, he uses this company to reach out to the less fortunate. Other than that, Hussain Sajwani (@hussainsajwani) the DAMAC owner has set a fantastic pace for emerging and novice entrepreneurs who could do with a role model in the real estate sector. For that reason, he has rightfully earned a leading position as a real estate entrepreneur.
Learn more about the professional insights posted by Sajwani: https://www.linkedin.com/in/hussainsajwani
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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Famously dubbed the Donald Trump of Dubai, Hussain Sajwani is an emirates billionaire property developer who founded real estate Company, DAMAC properties. Hussain is one of the world’s richest people according to Forbes, 2017. Born to an entrepreneur father, Sajwani became one of the few students to receive a government-funded scholarship to the United States of America. He went on to get a degree in economics and engineering from the University of Washington.
In 1981, Hussain started out his career at the Abu Dhabi Gas Industries’ finance department. In 1982, Sajwani started his own catering venture through which he supplied to clients including the United States military and Bechtel. The catering service is still functional but is now known as Global Logistics Services. In 2002, the DAMAC owner discovered a niche in the property market in Dubai. With this idea, Sajwani founded the DAMAC Properties, a global real estate development company based in the United Arab Emirates where he is currently the chairman and Chief Executive Officer.
The very first projects of DAMAC Properties were centered on the provision of accommodation for people who came to Dubai either for business or leisure. DAMAC Properties is currently among the largest property development companies in the Middle East. Since its inception, DAMAC has developed over 19,000 apartments and has over 44,000 units currently in different stages of construction. DAMAC has also seen to the development of various big-name properties like the Paramount Hotels and Resorts by Paramount Picture, houses in partnership with Versace and Bugatti and a Tiger Woods-designed golf course managed by the Trump Organization.
DAMAC properties and the Hussain Sajwani family are very philanthropic. In 2013 the company donated AED 2 million to support the “clothe a needy child” campaign started by HH Sheikh Mohammed Bin Rashid Al Maktoum. The campaign focuses on providing clothing for over 1 million needy children around the world. DAMAC Properties has also partnered with other organizations in the Middle East in contributing to the noble course of helping underprivileged children all over the world. Hussain Sajwani was named one of the world most influential people in 2017. Learn more: http://www.thenational.ae/business/industry-insights/property/damac-chairman-relishes-his-roots