Hussain Sajwani’s dad a self-made entrepreneur. His father had a store where he sold various retail items including shirts, Parker pens, clothing, and other retail items imported from China, Sajwani’s father was one out of the first students to obtain a government-sponsored scholarship. He earned a bachelor degree in Industrial Engineering and Economics from the University of Washington. After being raised by his father, and his father’s entrepreneur’s successful background, Hussain Sajwani was bound to be a successful entrepreneur.
Meet Hussain Sajwani-DAMAC Owner
As mentioned in elmawkefalarabi.com, Hussain began his career in 1981 working in the finance division of Abu Dhabi Gas Industries. Sajwani worked for the company for two years. In 1983, Hussain Sajwani founded and started his catering venture. His clients included the United States military services. Hussain Sajwani’s first successful venture has now been in existence over 30 years, now known as Global Logistics Services.
In 2002, Hussain Sajwani founded DAMAC Properties. His company, DAMAC Properties, has continued its stance as the most successful reality management businesses in the Middle East. DAMAC Properties significant developments include a golf course designed by Tiger Woods, Paramount Hotels, and Resorts, to name a few.
Last year, Dubai ‘s real estate market was dealing with the market that has seen falling rents and real estate property valves. Even in this disastrous real estate market, Hussain Sajwani company’s share price nearly doubled in share price. Last year, Sajwani ranked as the wealthiest billionaire in the UAE. Not bad for a country, who just last year was dealing with a weak real estate market!
Hussain Sajwani took advantage of Dubai’s explosive growth in real property valves in 2008. DAMAC took advantage of this growth and launched Damac Hills. Damac Hills, a vast expansive development that includes apartments, mansions, and golf courses. Just one year later, Hussain Sajwani developed the magnificent Akoya Oxygen, a 55 million square foot development, a residential, commercial and retail development.
Hussain Sajwani continues to crusade against current mortgage loans which require 25% of the property value to pay as the down payment. Sajwani’s feel the government regulations could create a soft reality market in the country. Sajwani continues his crusade for more advantageous payment plan issues for buyers.
Further reading: http://www.saudiprojects.net/