He is the founder and chairman of Damac Properties; a real estate firm established in 2002 and is based in Dubai. The Damac Owner seized the opportunity to invest in the Emirates when the Dubai government allowed immigrants to own property. The billionaire then purchased land from the underdeveloped areas. He built apartments that he later sold to non-Emiratis. Previously, Hussain Sajwani had operated his business in food service, in the 80s where he even served U.S military in Abu Dhabi during Operation Desert Storm. He did not desert his food industry after establishing himself in real estate. The food business was earning him millions which were little to him. Learn more: https://www.youtube.com/watch?v=GJxJrIkRTzk
Damac has grown to be the firm behind most flashy, luxurious and executive properties in Dubai. In its recent past, they had a project with Donald Trump to start up a golf course. They became business partners long before he became the president of the United States. In his new-year speech, Trump recognized the presence of Hussain Sajwani family terming them as beautiful people. The food business is still part of Damac Group Operations. It reminds Hussain Sajwani of his first expertise in business and how he got to interact with people in high governmental offices.
Hussain Sajwani has based his business model essential principles like operating debt-free, keeping independent escrow accounts and retaining cash reserves. These principles secure the business in the sense that construction would continue even if the financial market were unstable. Relationship science has seen the business flourish in many aspects. A relationship network helps identify potential customers as well as wealth management, investment banking, sales and business development, non-profit funding and management consulting.
Apart from business and investing, Hussain Sajwani is a philanthropist, and according to UAE Red Cresent manager, his generosity is overwhelming. He believes in preparing the future of the society by giving the children favorable growing environment. Therefore his company, Damac Properties, supports charity work and campaigns to help the needy. Damac Properties further established a hospitality division called Damac Maison in 2011, which is aimed to become the most significant hotel operator and developer all over the world. Learn more: http://www.thenational.ae/business/industry-insights/property/damac-chairman-relishes-his-roots