Hussain Sajwani is a self-established billionaire at the heart of Dubai desert. According to Forbes list he is the third richest man in United Arab Emirates and worth $3.7 billion. He is the founder of Damac Properties.
On start of his career, his first business venture was to provide food services for United States army during operation Desert Storms and America Companies. He also supplied catering services in Abu Dhabi for the energy sector workers. The food business is still part of Damac group operation.
Damac Properties was founded by Hussain Ali Habib Sajwani in 2002. The company engages in real estates projects, development of commercial, residential and leisure properties. The company’s headquarter is based in Dubai, the United Arab Emirates. Hussain Sajwani ‘s firm works hand in hand with Engineering firms, construction firms and architecture real estate
In 2002, DAMAC properties developed some mid-market hotels in Deirah. Sajwani had already own and developed several properties, this was due to aggressive marketing and taking advantage of the recovery in UAE property prices when the Dubai government allowed aliens to own property in the Emirates. Before he started construction, he sold his first property -38-story residential building in less than six months after its purchase.
The US president, Donald Trump has associated with Hussain Sajwani as friends and business partners, through The Trump Organisation, Inc. that provides real estate development services. Both companies were working on the Trump International Golf Club that has luxurious villas worth $2billion in sales. Although President Trump will not get directly involved with the plans while in office, his children Ivanka, Eric and Donald Jr will maintain their brand as the Trump’s Family. Eric and Donald Jr recently attended the opening of the golf club in Dubai.
The Damac property firm model is based on three principles. First is to retain cash reserves, and government bonds. These policies ensures that when the market trends change its easy to maintain the construction schedule. Secondly, maintaining independent accounts so that each development supports itself. Thirdly, holding no debts for land; making sure that the land is fully paid. Damac properties also have branches in North Africa, Qatar and Saudi Arabia.