The best way to describe Hussain Sajwani is as the owner and chairman of DAMAC Properties and a very busy businessman, indeed. In less than two decades his venture has grown into something of a gem in the middle of the Dubai region. This is only after Sajwani’s receiving of his undergraduate degree in economics from the recognized University of Washington.
In his case, there is a period of time where he performs as a contract manager for GASCO. Perhaps, this is where he gains his insights into the ways of big business. Or maybe these insights are the result of running his own catering business started in the year 1982. Its origins may be humble, but now it oversees more than 200 projects and serves more than one hundred fifty thousand meals a day. These meals are distributed through areas from the Middle East to various locations within the continent of Africa.
It could just be that Hussain Sajwani performs as an all-around business mogul maverick, because he seems to turn everything into gold. His influence reaches across fields such as education, army camps, off and on shore location surveying, on top of the construction of five star hotels. However, he is most commonly known as a forerunner in the property market field.
Sajwani has been at his tasks since the mid-90s, and he shows no signs of slowing down in the new millennium and beyond. As a matter of fact, DAMAC used to be just AMAC, until Sajwani decided to do something about that. And, there is really no reason why he should not. After all, he is responsible for starting the company from scratch, he should be able to rename it what he wants. It is only worth more than 4 billion dollars.
This company is worth so much because it makes the right decisions, when it comes to visionary development. Such decisions are how it is continues to make history like being the first business from the Middle East to be exchanged on the London Market. It reaches such heights by dealing with some of the most important names across genres such as Fendi, Versace and Tiger Woods.
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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