How Hussain Sajwani Built A Financial Empire
DAMAC owner Hussain Sajwani has been an entrepreneur since 1983 when he founded his first business. He has been phenomenally successful and was named by Forbes as one of the top 10 billionaires in the Middle East in 2017. As of September 2017 he was worth about $4.9 billion. He owns a number of companies with the parent company being DAMAC Group. The biggest subsidiary of this is DAMAC Properties Dubai Co. PJSC which is his luxury real estate development firm that builds residential, commercial, leisure, and retail spaces.
As Hussain Sajwani’s companies are headquartered in Dubai, United Arab Emirates, quite a bit of his project are in this city or in the surrounding area. He originally started out as an entrepreneur in the catering industry, a company that he started in 1983 and is still very successful as it operates in several countries serving food to those in hospitals, construction project, and military bases among other locations. His next business was building hotels in Dubai during the time where business professionals were increasingly visiting Dubai. Learn more: http://hussainsajwani.com/
The big opportunity that Hussain Sajwani saw in 2002 was when the government of the United Arab Emirates finally opened the country up to allowing foreigners to buy property which to that point had been forbidden. This was when he founded DAMAC Properties so that he could build properties that would appeal to wealthy foreigners who wanted to own property in his country. He has used effusive marketing in order to make his properties attractive for this foreign investment. He has given high-end luxury cars to buyers of the apartments and villas he has built, for example. One time he gave everyone a Jet Ski that bought a unit at one of his residential developments.
Hussain Sajwani is also a philanthropist. As so many children are poor throughout the world they have clothing that is entirely inadequate. Recognizing this fact, the Sheikh of the UAE launched a campaign to clothe children across the globe. Hussain Sajwani, along with his family, donated a large sum of AED two million that ended up providing clothes to about one million children.