Hussain Sajwani was born in 1952. He is the founder and chairman of DAMAC properties. He has managed to develop himself into a billionaire in the Emirates. He was born in the United Arab Emirates where he ventured into real estate.
The DAMAC owner helped to build a real estate boom after the crash in 2008. DAMAC was ranked as first by Forbes on their Global 2000 list. Hussain Sajwani is a graduate of industrial engineering and economics from the University of Washington.
He started his career in GASCO as a contract manager. After working at GASCO for a short time, He started his own business. He ventured into catering services in 1982.
Hussain Sajwani attributes most of the success today to his former years. His commercial way of thinking has always stuck with him to date. The DAMAC owner can adapt to the market quickly. He has shaped this adaptability into orchestrating some of the biggest schemes in Dubai. For instance, the Akova Oxygen is a 55-million square-ft project estimated at $6.5billion.
After finishing his studies at Baghdad, he became one of the first students from the UAE to receive a scholarship in the United States. He returned home after graduating with the notion of what was possible in his homeland. The DAMAC owner started his property venture with the construction of five three-star hotels in Deira in 1996.
Hussain Sajwani has tried his lack in the Stock markets. He says he got almost five times more profits from stocks that real estate between 2004 and 2006. When the real estate crash came in, DAMAC property was one of the companies to be affected. For instance, the price of residence fell 50 percent in 2008. His experience, however, enabled him to come out after six months.
It is important to note that DAMAC was the first real estate company to be listed on the London Stock Exchange In 2013 from UAE. This enabled him to build even more projects across Dubai. The DAMAC owner has launched more projects to his name.
These include the Cavalli, Bugatti, Paramount and the Akova Oxygen. DAMAC has projects going on in other countries such as Lebanon, Qatar, Jordan, the UK and Saudi Arabia. It is not surprising that his story to success is a remarkable one.
More on charity work with Hussain Sajwani: https://www.damacproperties.com/ar/media-centre/press-releases/hussain-sajwani-damac-foundation-sponsors-one-million-arab-coders-initiative