The DAMAC owner, Hussain Sajwani has developed his business empire over the last few years to bring success to the United Arab Emirates and other areas of the world his empire touches. Unlike many of his fellow luxury real estate development professionals, Sajwani was not born with the advantages of wealth but had to work his way up in true rags to riches style. Despite the lack of privilege in his youth, the founder of DAMAC Properties has become one of the leading figures on the international property stage and recently gave his view of the world’s economic future at the DAVOS event attended by world leaders.
Life was not easy for the Sajwani family when Hussain was a child as they often struggled to make ends meet from the earnings of his father’s watch and clock store. The young Hussain would assist his father by selling watches but always remained focused on his education. After achieving his dream of a government scholarship from the UAE, Hussain Sajwani made his way to the U.S. to study at the University of Washington in the hope of starting a career in the oil and gas industry.
It was after his return to the UAE that Sajwani began his first entrepreneurial endeavor, which saw him notice a gap in the market for catering services in the oil fields of the Middle East. DAMAC was born as a catering service which is still in existence providing food for industrial and military sites across Asia and Africa.
The biggest leap for the DAMAC owner came when Dubai opened its doors to non-citizens wishing to purchase land in the desert city. After purchasing a plot of land in a supposedly undesirable area of Dubai, Hussain Sajwani sold every unit in a luxury tower development before construction began and offered incentives including a luxury car for those who signed for real estate deals. Now the head of one of the world’s leading real estate development companies, DAMAC owner Hussain Sajwani continues to develop new buildings in London, Qatar, and Jordan.
Further details: https://www.albayan.ae/economy/local-market/2017-12-02-1.3118658