How Hussain Sajwani Profited From Entering The Real Estate Industry

Hussain Sajwani is a 64-year-old businessman in the United Arab Emirate. He holds two undergraduate degrees that he earned at the University of Washington in Seattle; engineering and economics. After returning to the UAE he briefly worked in the oil and natural gas industry before striking out on his own. His first company, which he still owns, provides catered food to military bases, universities, and other locations. He’s had his biggest impact in real estate, though.

 

In the middle of the 1990’s many international businessmen were arriving in Dubai to do business. Hussain Sajwani saw this as a business opportunity and so he built several hotels for them to stay at. Later on, in 2002, the country opened up to foreigners owning real estate. It was at this point that he founded DAMAC Properties. He bought some land in a part of Dubai that was undeveloped. His first property was a residential tower that was 38 stories high. He sold all of the units in the building before it was even completed. At this point he knew that entering the real estate industry had been a great idea for him.

 

The DAMAC owner has had DAMAC Properties team up with a number of luxury brands over the last 16 years. One of these has been the Trump Organization. He and Donald Trump agreed to a partnership in 2013. The partnership is for two separate developments, one called Akoya and the other yet to be named. DAMAC Properties built homes around a golf course that is now managed by the Trump Organization at the Akoya development. The other development DAMAC Properties is building is slated to open at the end of 2018 and it will also feature a golf course managed by the Trump Organization.

 

Hussain Sajwani uses some of the money he has earned from DAMAC Properties to give to international charity efforts. One of these was called the Ramadan initiative. He wrote a check for AED two million which went toward purchasing clothing for children who desperately needed it. The money he gave to this initiative was enough to clothe over 50,000 children.

 

To learn more, visit https://www.damacproperties.com.