Grand Ambitions Of The DAMAC Owner, Hussain Sajwani

In 2002, Hussain Sajwani created a luxury real estate development company in Dubai, DAMAC Properties. Now as a player in major property construction projects, Hussain is an established business entity in the United Arab Emirates. It was plain to see from his earliest entrepreneurial business; a catering company that Hussain Sajwani, the DAMAC owner, possessed an extraordinary vision for success. His first venture founded in 1992 evolved into a highly recognized food serving division. Today, the catering division serves a myriad of organizations, such as army base camps, land based and offshore drilling sites, and world class affluent hotels.

 

Hussain Sajwani, the DAMAC owner took the traditional route finishing his undergraduate education at the University of Washington. After graduation he landed a position with GASCO as a contracts manager. GASCO is a state owned drilling company of the The Abu Dhabi National Oil Company. In 2002, a transitional change in Dhabi laws allowed those identified as “foreigners” to purchase real estate. At that time, Hussain Sajwani took the opportunity that presented itself and turned it into a DAMAC. Those initial real estate purchases helped launched him as an international real estate developer. Throughout the Middle East, he became known as a “astute” marketing businessman who also possesses elite skills in finance, sales, administrative oversight and legal.

 

Since the first projects, DAMAC Properties quickly rose to the top of the industry. And often navigating into uncharted waters for a luxury property developer. Something that came to the forefront when Hussain Sajwani launched an IPO of his company in December 2017. The money raised came in the form of bank certificates called, global depositary receipts (GDRs). With the IPO announcement, DAMAC Properties became the first Middle Eastern property development company to ever have shares registered for public trading.

 

This year, Forbes listed Hussain Sajwani, the DAMAC owner as number four on their annual list of the richest people in the world. Many of Hussain’s projects have met with success, allowing him to amass a fortune of $4.1 billion. Hussain Sajwani maintains his main residence in Dubai, where he lives with his wife and four children.

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