Hussain Sajwani is the founder and CEO of DAMAC Properties, and as the DAMAC owner, he has worked twice to usher in the world’s largest real estate explosion in the Middle East. As one of the few from his home country of Dubai to receive a scholarship to an American college, he has made his way to the top through his business prowess, leadership skills, and knowledge of his trade. He revealed in an interview that he learned quite a bit from his father who would take him to his shop after his school studies as a child. He believes that a lot of his own success came from learning how to think in a commercial manner, because his father understood his target market and taught these lessons to a younger Hussain.
Today, Husain Sajwani is the the tenth richest Arab in the world, according to Forbes, and Damac Properties sits as the fourth largest public company in the world. One of the most interesting features of all of this is the fact that the DAMAC owner has been able to make this happen after the 2008 property crash that occurred in Dubai. After visiting the United States, he realized that Dubai could use some help with its real estate industry. He didn’t immediately get into the real estate market there but returned to build a catering business, which is still a leader in its market, today.
In 1996, Hussain Sajwani began to build five three-star hotels in the region of Deira, and he founded his luxury property business in 2001 making him the DAMAC owner that he is today. Due to successful investments and other profitable ventures, he was able to build DAMAC without having to borrow anything from anyone. When crisis struck the market and his company in 2008, he knew it was going to happen ahead of time. Instead of giving up, he tackled the problem head-on by letting workers go and cutting down on overhead costs. After this time the DAMAC owner Hussain Sajwani was able to make a comeback and has now built his business up the be the luxury property developer that works with the rich and famous as well as other well-known luxury brand names.