Hussain Sajwani’s Rise to the top of Dubai’s Real Estate

Hussain Sajwani graduated from the University of Washington and later started his career as a contracts manager at GASCO which is a subsidiary of Abu Dhabi National Oil Company. In 1982 he ventured into the catering business which attracted clients such as the united states military ,workers in the energy sector in Abu Dhabi and construction giant Bechtel. He later in the mid 90’s built several hotels to host the growing number of people going to Emirates for business as he was one of the pioneers of the property market expansion In Dubai.

 

 

In the year 2002 Hussain Sajwani founded residential real estate developer DAMAC properties which engages in the development of residential, leisure, commercial properties across the region,including the UAE, Saudi Arabia,Qatar, Jordan, Lebanon and the United Kingdom.Since 2002 DAMAC has given homes to 18,500 individuals and the numbers are constantly increasing.

 

 

DAMAC’s success stems from the effort of selecting and holding onto talent, choosing the right partners, locating prime development spots and selecting innovative building materials that will deliver high quality buildings. DAMAC’s business module is based on the three principles which are hold no debts for land, escrow accounts are independent and retaining cash reserves in fixed deposits or government bonds so that if the market turns they are able to support the construction schedule. The DAMAC properties Dubai company has its headquarters in Dubai, the United Arab Emirates.

 

 

Mr. Sajwani capitalized on a Dubai bill that let foreigners buy property in the United Emirate.He noticed that foreigners were the main apartment buyers after he had purchased land in a undeveloped part of town and sold units in his first 38 story residential property in less than six months before he had started construction.

 

 

The DAMAC owner partnered with Mr. Trump in 2013 to build the Trump international Golf course Dubai which debuted in February 2017 at the DAMAC’s Akoya residential development while Trump world Golf course which is designed by Tiger woods,should debut as a separate DAMAC development by late 2018.This partnership has not only been great for his business but also an avenue to new great friendships for the Hussain Sajwani family.

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