Success of Hussain Sajwani, Founder and Chairman of DAMAC Properties

Hussain Sajwani, born in the United Arab Emirates, is the founder and Chairman of the global property development company, DAMAC Properties. The company was ranked number one by Forbes in 2017 on the magazine’s list of 2000 of the fastest growing global companies. The ranking was based on the annual growth rate of revenues for the several years prior. In 2018 Forbes listed Sajwani as the world’s 4th richest Arab with a net worth of $4.1 billion. Quite an achievement for a man who had a more modest beginning as the son of a businessman who owned a retail shop selling watches, pens, shirts and goods from China.

One of a few granted a scholarship to study in the USA, Hussain Sajwani graduated from the University of Washington with a bachelor’s degree in Industrial Engineering and Economics. Sajwani began his career as a financial contracts manager at GASCO, a subsidiary of Abu Dhabi National Oil Company (ADNOC). Two years later he created his own catering company. The venture successfully grew to include customers such as the U.S. military and Bechtel Industries. The company still exists, operating as Global Logistics Services.

As the founder and Chairman of DAMAC, Hussain Sajwani has watched the company grow into one of the largest property development companies in the Middle East. Accomplishments include the development of around 19,000 apartments with over 44,000 units in various stages of development. Other developments by DAMAC Properties include luxury villas which were styled by Bugatti, a Tiger Woods designed golf course which is managed by The Trump Organization, interior designed luxury apartments by Versace and Fendi and a partnership with Paramount Pictures to design and develop the Paramount Hotels and Resorts.

In 2015, DAMAC, under the direction of Sajwani, the company’s shares bacame publicly-listed and began trading on the Dubai Financial Market. DAMAC’s success is evident by their achievements over the past few years.

Recommended reading; http://www.alkhaleej.ae/economics/page/fe8c106f-a20f-4223-9ff9-0cf88df61a45

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