DAMAC Owner Hussain Sajwani Has a Strong Business History in the UAE

As a boy, Hussain Sajwani helped his father in the family business by working after school long hours. The variety store business that sold Parker Pens, office supplies, and other household and business goods taught young Hussain how to work with customers and the fundamentals of working hard. Even though at the time, he complained to his father about the long hours, he looks back with a fond remembrance regarding the experience.

According to his Ideamensch profile, after graduating from the University of Washington in the United States, Sajwani returned to Dubai and eventually started a catering company that sold food to the United States Armed forces during the Gulf War in the region. The venture was a great success and it caused Sajwani to be able to form many strategic business contacts on an international scale.

In 2002 Sajwani founded DAMAC Properties, Inc., a real estate company devoted to the development of residential, business, and recreational accommodations. The United Arab Emirates had decided to allow foreigners to purchase land in the UAE and to live there. Sajwani correctly predicted that there would be a real estate surge in the area and he wanted to take full advantage of the situation.

Sajwani was a masterful marketer as he advertised heavily until everyone in the region was aware of DAMAC. He used catchy slogans such as “A New Bently for Each New Luxury Apartment.” His projects were very high-end, luxury affairs since he knew that many who would be coming to the UAE would have money and that was where the big profits would be found.

His promotions were very effective as his very first project sold out completely before any construction had even started. Sajwani used very conservative business strategies such as the purchase of land for cash, separate accounts for accounting and banking, and setting up cash reserves in government bonds. When an economic downturn occurred a few years later, this practice kept DAMAC on top and ahead of his competition.

Today, DAMAC owns luxury properties in many countries. Sajwani has even partnered with Donald Trump, prior to the US Presidential election, and several Trump golf courses are present in a few of the DAMAC resorts.

See post: independent.co.uk/news/people/donald-trump-new-years-eve-speech-president-elect-dubai-business-partner-hussain-sajwani-mar-a-lago-a7507551.html