The term “Real Estate Legend” is usually reserved for icons like Warren Buffet, Stan Kroenke and even current US President Donald Trump. But now one of President Trump’s friends holds that title, and that’s DAMAC owner Hussain Sajwani in the UAE. The title was given to Sajwani at a business awards ceremony in Dubai this last April because for more than 15 years he’s been bringing in big business to Dubai through commercial developments and his five-star hotels. He’s turned DAMAC Properties into a billion-dollar plus revenue company and has built up its cash reserves over the years so that it’s been virtually debt-free while operating. The designs of his properties’ buildings have been breathtaking and have been featured in many business magazines.
Hussain Sajwani founded a catering company after graduating from college and then working a few years at the GASCO company under Abu Dhabi National Oil Company. This catering company was ranked as one of the world’s top food services and served clients all over the world both in government and private sector positions. Sajwani made millions in profits from this company, and he used it to purchase Al Anwar Ceramic Tiles, an insurance company and eventually to start DAMAC Properties. Sajwani began his first property investment in 2003 at Marina Terrace and officially opened the property in 2006.
Describing the beauty of Hussain Sajwani’s buildings really doesn’t do them justice as every single one of them stand out in the middle of Dubai. Notable properties completed by DAMAC are the Park Towers, DAMAC Tower, DAMAC Maison in AYKON City, AYKON in London, AKOYA Oxygen which is also known as DAMAC Hills, and there are several new resorts on the way in Maldives. Sajwani had to make a few hard choices such as cutting back employees and slowing construction on a few sites when the market crash of 2008 hit the UAE, but his shrewd business acumen helped bring DAMAC out of that hardship. Sajwani also took the company public in 2013 and founded a private equity firm that’s increased its capital intake. He’s also a founding member of the One Million Arab Coders foundation.