DAMAC Properties

Hussain Sajwani: A Success Story

Hussain Sajwani is a name you may have heard if you are involved at all in the real estate market. Sajwani has made a name for himself through the creation of DAMAC Properties, headquartered in Dubai. With this company, Sajwani has built over 16,800 homes and 44,000 apartment and condo units catering to everyone from the resident to the elite.

Sajwani started his entrepreneurial conquests through the creation of a food catering and service company early in his career. This company quickly grew and started to service accounts such as the giant Bechtel and the United State Military.

Sajwani even earned recognition for his service to the U.S. Military campaigns in the Middle East throughout the 1990s. When the housing market started to pick up in the early twenty-first century, Sajwani decided that he wanted more from his investments. That is when he founded DAMAC Properties.

DAMAC Properties was a success from the start. The Company focused on development and construction of commercial, leisure, and residential properties throughout the Middle East. There was a focus, however, on the then underdeveloped Dubai market. Here the DAMAC owner made his name as a caterer to the Middle Eastern elite by building several luxury condos in Dubai, one of the first people to do so. Learn more about Hussain Sajwani: http://www.forbes.com/sites/kerryadolan/2016/03/01/the-donald-of-dubai-hussain-sajwani-interview/#1b049a722f15

Since then, Dubai has become the single best destination for luxury in the Middle east. He has even had partnerships with people like Donald Trump to build things like the Trump International Golf Club. The Hussain Sajwani family and Trump family have been friends for decades.

When the economy took a downturn, Hussain Sajwani was one of the first to know. He had been following the markets and realized a downturn may be coming. Before it hit, he was able to cut costs and preserve cash to get DAMAC Properties through the tumultuous times. Now he operates his businesses on the principles of not holding any debt for land, keeping escrow accounts separate from each other, and keeping enough cash reserves to keep construction going if the market hits another downturn.

Sajwani is also very involved in philanthropy. The mogul has donated over 120 million dollars to the Emirates Red Crescent over the years. This organization helps to provide clothing and food to people that need it throughout the Middle East. No matter how you look at Hussain Sajwani, he has been successful. He created a successful company, has successful relationships, and gives back to his community.