When Hussain Sajwani was young and going to school, he had to work long hours after school in the family store.Hussain made the decision then that he would go to university and get a degree so he could become a professional so he could have a regular schedule.
Sajwani attended the University of Washington in the United States where he graduated with a degree in engineering. He then returned to his home country of Dubai and worked as an engineer for an oil and gas company. Never one to pass up an opportunity, Sajwani founded a catering company that served the US Army during the Gulf Wars in Kuwait and Iraq. This venture was a great success and is still in operation today.
When the UAE made the decision to allow foreign nationals to immigrate into the country, Sajwani saw a huge opportunity for real estate. He formed DAMAC Properties in 2002 which would become the foundation of wealth for the Hussain Sajwani family. As the DAMAC owner, Sajwani built a real estate empire that rivaled any in the world.
Sajwani’s claim to fame was his marketing abilities which really got him off to a fast start. One of his ploys was to advertise that with each apartment purchased, the buyer would get a free Bentley as part of the package. It was so successful in the beginning that his first apartment project was completely sold out before the construction had even begun.
Sajwani was a shrewd businessman and left no detail undone. He always pays cash for the land because that way there is a zero chance that anyone can foreclose on him. He then finances only a very small part of the construction and the finishing out of the project. He keeps a separate account for each real estate project so that it will stand on its own, and not affect any other properties.
Sajwani has involved his family members in various positions in the business. His son, Ali is the General Manager of Operations of DAMAC and other members are involved too.
Connect with Hussain Sajwani on LinkedIn.