Hussain Ali Sajwani, the DAMAC owner, was able to build one of the largest Real Estate empires across the world known as the Damac properties. He was able to reclaim and invest more even after the 2008 financial market crash.
According to Forbes, Hussain Sajwani is the World’s tenth wealthiest person with an estimated net worth of $3.7 billion. Hussain Sajwani says that most of his business skills were inherited from his father’s small retail and wholesale shop. Damac company is ranked as the fourth largest company with only one close competitor regarding the field they operate. This makes it the arguably the leading property development and real estate firm in the world. The active, hard work of Damac has made it run and acquire the most significant contracts in the United Arab Emirates.
The success of the real estate firm comes after the financial market crash in 2008. Damac Properties, the largest private developer, was stricken during the financial accident. However, Sajwani doesn’t like to talk much about those times.
Hussain Ali Sajwani is very proud to have completed the Trump International Golf Club. He said that the Luxury villas, luxury apartment, and the terrace make this project exceptional and one of a kind.
The rise of real estate mogul Hussain Sajwani
Sajwani pursued a degree in financial engineering and economics in the University of Washington. In his statement, he says that the difference between the United Arab Emirates and the United States gave him the zeal and urged to develop UAE. During that time, the structures in Dubai were not of standards compared to the US.
When he returned to Dubai, he landed a job with the Abu Dhabi Gas Industries. Two years later, he opted out to begin a catering business Global Logistics Services which is still in operation up to date. It then became the biggest in that region. His real estate venture started in 1996 where he completed the development of one of the three five-stars hotels in the United Arab Emirates. In 2000, he was at the heart of his career when the government allowed foreigners to acquire property. Here, he was able to sell units within six months.