The name Dubai is now almost synonymous with the futuristic skyscrapers and the real estate market which is always rich with opportunities for luxury projects. Behind this prestigious real estate market is a long list of globally acclaimed property developers. And making to list f the earliest investors here is Hussain Sajwani, the founder, CEO, and chairman of Damac Properties. Worth over $3 billion, the DAMAC owner sits comfortably among on the Forbes top ten richest individuals of Arab origin. But how did he get here?
Hussain Sajwani’s early life
Hussain was born in the humble but highly entrepreneurial family. His father owned a shop in which he sold almost everything from pens to watches, while his mother would purchase saris and other fabrics at wholesale, and resale them at higher retail prices. It is the hardworking nature of his parents that inspired him to appreciate the value of hard work in all his endeavors.
This hard work earned a scholarship to study in America and in effect set his ball to success rolling. After completing his studies, Hussain Sajwani worked at Abu Dhabi gas industries, where he learned yet another skill, saving. Here he nurtured the entrepreneurial skills gained by watching his parents their small businesses and put them into practice when he established a catering company.
He combined what he learned from his father, at the university and also his short stint at Abu Dhabi gas industries, and within a short period of time, his business had clients from all over the country, handling about 200 projects in a day.
Moving to real estate
When the Dubai government allowed foreigners to invest in the country, Hussain (@HussainSajwaniOfficial) saw this as an opportunity to set up a local real estate company. He started off what is today an empire, by establishing a series of five-star hotels in the country’s major cities. In 2002 he officially established DAMAC properties, which today has close to 2000 employees, and a development portfolio of over 44,000 units spread across the world.
Relationship with Donald Trump
His success has also seen him become friends with the high and mighty in the society including President Donald Trump. Apart from business, his family and that of Trump’s are great friends and Ivanka Trump regularly visits his wife, while the sons of Trump were present in his daughter’s Amira Sajwani wedding.