DAMAC Owner Hussain Sajwani: Making it Big in the Property Market
Hussain Sajwani, the owner of DAMAC properties, started from a humble beginning in the catering industry but right now he is one of the renowned property owners in Dubai and around the world. In the 90’s, the entrepreneur built a fleet of hotels, which accommodated the influx of tourists and business traders visiting the emirates. In the early 2000s, he founded the DAMAC properties, which grew to be one of the largest properties in the Middle East.
His company together with other investments are the market leaders, which provide catering services to various organizations in the Middle East. This was made possible by Sajwani’s expertise in the arena of property development such as top-notch marketing, sales, finance, legal and administration skills. His commercial skills are attributed to the success of his business today. Sajwani has a recognized track record in global equity and capital markets. Currently, DAMAC Owner Hussain holds many investment portfolios of securities in regional and global markets under his name.
Moreover, the Aljazeera Services is a crucial investment of Sajwani and is itemized in the Muscat Security Market with over $110 million in the capital. He also serves in other boards such as the Majan University in Muscat and Emirates Takaful Company. He was rated as the 4th richest Arab with a net worth of $4.2 billion making him one of the notable billionaires in the Gulf region.
Currently, DAMAC has high-status projects in notable cities in the Middle East and Europe. The properties employ an estimate of 2,000 employees, with a development portfolio of 40,000 units of luxurious properties. Among the notable fashion and lifestyle companies, DAMAC has worked with include Tiger Woods. Others include the luxurious Italian Fashion houses such as Versace Home and Fendi Casa. One of the recent projects launched by DAMAC is the hospitality division, which provides bespoke services to hotel rooms and apartments. In his interview with CNBC, Hussain articulated that Dubai has benefited from the oil turmoil that hit the region affecting the neighboring countries with little effect felt in Dubai.
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