Hussain Sajwani, the founder of DAMAC properties, has been vocally supportive of how the Trump Administration is playing tough with China in regard to trade. The past year has been tough on his company, however, because of the current trade conditions. The share price of DAMAC Properties is down significantly for the year, resulting in Sajwani’s net worth dropping over $3 billion. Although business is not as robust as it was in previous years, DAMAC Properties still intends to construct luxury buildings in major European cities.
There are some who have speculated that Sajwani’s close relationship with Donald Trump could influence politics. DAMAC owner Hussain Sajwani admits that the agreement he made with the Trump Organization is very beneficial to his company, He says that the agreement is the reason he was able to construct the golf courses for his company. As for influence in politics, he stated that as a businessman, he has no time to try to affect politics. He did, however, speak of his support for free trade and how he felt it was necessary to promote business development all over the world.
DAMAC owner Hussain Sajwani feels that the current loss in his company’s share price is cyclical in nature. As a businessman, Sajwani has seen markets move up and down, and his net worth fluctuates in the process. He doesn’t focus on the day to day profit numbers, but rather tries to concentrate on areas to improve, especially in hard times. DAMAC Properties had weaker than expected earnings for the recent quarter. The earnings came in at $408 million, which represents thirty-three percent lower than the same quarter a year ago. DAMAC owner Hussain Sajwani believes this move is cyclical and the market will bounce back within a few years.
Although the earnings have dropped recently, DAMAC Properties intends to go forward with its plans to hit the European cities, especially London. Although it may seem risky now due to the Brexit situation, the company is focused on the long-term. The firm plans to continue its partnership with the Trump Organization in the hopes of developing one of the top golf courses in the entire world.