At the heart of the desert kingdom, United Arabs Emirates lays the billionaire and a real estate titan who has been selfless enough in transforming Dubai city. Most of the luxurious buildings and outstanding architectural designs that are landmarks in the city trace their origin from this renowned entrepreneur and philanthropist. Meet the founder and the Chief Executive Officer of DAMAC properties, Mr. Hussain Sajwani.
The DAMAC owner is one of the key figures that facilitated the booming of real estate in Dubai and since then, he has been moving from one level to another. Hussain Sajwani during his childhood days, his father, Ali Sajwani used to take him to his shop every day after school. He spoke to him for hours concerning business matters.
The way his father conducted his business, made him learn some business principles. Hussain Sajwani has attained position 10 according to Forbes, among the richest Arabs in the world with a net worth of approximately $3.7 billion. In 2017, DAMAC Properties was the fourth largest public company in UAE in 2017 having only a single competitor in terms of scale, Emaar.
This position has made the DAMAC owner, trustable and perhaps one of the most preferred developers in Dubai in establishing massive structures worth billions like Akoya Oxygen and Damac Hills. Despite experiencing some hit in 2008 economic crises that affected the whole world, Hussain Sajwani and his company have become stronger than ever.
His DAMAC Properties began in 1996 with the construction of a 3-star hotel in Deira. It is the mastermind behind one of the luxurious villas in the Trump golf course which Hussain sees as such a large strand in their growth. He studied in Baghdad and later went to the University of Washington in the U.S. for industrial engineering and economics. His experience here opened up his mind and challenged him to develop his hometown, Dubai.
In 1982, the DAMAC owner came back to Dubai where he worked with Abu Dhabi Gas Industries and after 2 years he started his own venture, Global Logistics Services then his properties company which began by developing Marina Terrace and Park Towers. It went global by developments in Egypt, Lebanon, Jordan, Saudi Arabia, Qatar and the UK. Hussain looks forward to new and massive opportunities specifically in Europe.