The entrepreneurship world is unpredictable. One minute something is great and the other minute things are not as great as expected. As an investor, you have to learn to be perseverance and fight the storms that you encounter. The DAMAC Properties is among the firms that have been able to remain in business since its founding.
The DAMAC Premises was begun in 2002. The owner of the company, Hussain Sajwani was among the first investors to venture into real estate in Dubai. Prior to this, he built some accommodation rooms to reduce the congestion in Emirates caused by business persons. So far the firm has been able to provide 20000 people with residences, and the numbers are still counting.
Hussain Sajwani says that one factor that helps the firm is being able to see changes before they happen, accept, and take a step. In 2008, multiple firms joined the venture, which reduced the sales of the company. When they realized this, they changed their focus and concentrated on their delivery, which gained their leverage back. He also mentions that during the financial crisis, they were the only ones that survived because they saw it coming and quickly made some fixes.
Hussain Sajwani says that he has been able to accomplish the great things he has by fighting the spirit of fear. He says that although he evaluates his ideas to avoid losses; when he sees potential in an idea, he gives it his all to see it comes to reality. He advises the young business people to do the same, saying that in real estate every day is different: what was cheap today could be unaffordable tomorrow.
Hussain Sajwani has faced some challenges on his way up. However, unlike people who feel if they had a chance to do something they could do it differently, he is contented with the way his life unfolded. He explains that everything he has today is a result of the decisions that he made in his past; both great and bad. This is probably the best lesson that investors can learn from the DAMAC Owner.
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