With billions in annual revenue and a hotel empire that’s now rising up along the Dubai Canal in AYKON City, DAMAC Properties has been turning into one of the world’s most powerful real estate companies. Also having the inclusion of luxury interiors designed by Bugatti, Versace and Cavalli specialists has made the DAMAC Maison destination one of the most attractive vacation places for visitors. But it’s been the vision and planning of DAMAC owner Hussain Sajwani that’s contributed the most to the company’s success, and it’s why with his acumen he was named “Real Estate Legend” at an annual Arabian Business Awards event. Sajwani has been able to understand where the market demands are going over the years and adapt his building strategy to meet them.
Hussain Sajwani was born in Deira in the UAE and got his business degree at the University of Washington. He decided after working for an oil company for a few years that he wanted to run his own business and look to make it big doing that. A blogpost from aleqt.com mentioned that Sajwani opened a catering business that had a great reputation for creating tasty food, and he was given a plaque for serving US military troops during the Gulf War. But he realized he could do even more with the profits he made from this company and he started buying different companies like building supplies, insurance companies and even a private equity firm. DAMAC Properties was started in 2002 with its first properties completed in 2003, and Sajwani guided it through the turbulent times of 2008 and into a period of growth unlike any it had seen before.
According to Saudi Projects, Hussain Sajwani took the company public in 2013 on the Muscat Exchange and recently spoke of selling some of its ownership shares. He’s also been proud to work with President Trump back when he was a real estate mogul running the Trump Organization, and Trump even has built a Tiger Woods golf course and had the Trump Estates built on DAMAC Hills. Sajwani plans to continue his relationship with the Trumps in hopes that the presidency will not get in the way of new deals.
Read here: http://www.akhbarak.net/