Hussain Sajwani is the founder of the global property development company DAMAC. The DAMAC Owner has been listen a number of times among the top 100 most influential Arabs as a result of his success with DAMAC Properties and other businesses. His company has been ranked by Forbes in 2017 as the number one fastest growing global company, part of the publication’s Global 2000 list. In addition, Forbes ranked Hussain Sajwani as the 4th richest Arab in the world, having a net worth of $4.1 billion.
Despite the fact that he is associated with DAMAC, the company is not Sajwani’s first success as an entrepreneur. He helped his family business while he was still in school, an experience that he stated was crucial for him. He studied in the United States after becoming one of the first students to obtain a government scholarship and sold timeshare apartments during his studies in the country. He studied Economics and Industrial Engineering, graduating from the University of Washington.
DAMAC owner Hussain Sajwani worked for 2 years in the finance department of a big company, being directly involved in processing payment for contracts. In 1982 he opened a catering business, a venture that became a market leader, serving more than 150,000 meals every day while managing over 200 projects. Despite the success of his business, he saw opportunity in the real estate market and decided to be a part of it.
He started developing small hotels and ended up being part of bigger projects down the line, such as developing towers in important areas of Dubai. As UAE opened up the market in early 2000s, he seized the opportunity and thus DAMAC was created. His company grew and is no longer limited just to Dubai. Nowadays, they are a part of other countries in the Middle East, and the United Kingdom as well.
DAMAC’s development portfolio includes more than 44,000 units and 17,900 homes. The DAMAC owner stated that the company reached a size and a level of maturity which enables it to expand beyond the region, pointing out that they delivered more than 20,000 homes, an achievement which only a handful of Middle East developers have.
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