Hussain Sajwani is a top Arab billionaire based out of the United Arab Emirates. He is also Founder and Chairman of DAMAC Properties, which came to be in 2002. Since 1981, after starting his career in finance, the property development titan went on to start a catering company which has ballooned into a world leader all its own. Dishing out more than 150,000 meals daily, it continued to serve various clients across construction, military, education, and hospitality.
He was one of very few students in the EAU to be selected for a government scholarship. He then earned his bachelor’s degree in Industrial Engineering and Economics in the United States after attending the Universty of Washington.
As one of the first to find success in the property development space, Hussain Sajwani established DAMAC as one of the most successful firms in the industry with projects all over the Middle East and Europe. Many feature luxurious designs commissioned by from a golf course designed by Tiger Woods to luxury apartments whose interiors are designed by Versace Home and Fendi Casa.
In a recent interview with CNBC, Hussain Sajwani could not be more pleased with the results DAMAC has seen with one of their most recent projects in partnership with The Trump Organization. Independent of the president, he believes DAMAC will continue to see growth moving forward.
Depending on market trends, price and timing, there are expectations that Hussain Sajwani many options to sale a small portion of the company to create liquidity. He also expects that with current out capacity of fewer than 10,000 units a year, which could increase to as much as 10,000 to 12,000 in the coming years, there is a lot of room for growth. He also adds that he is interested in expanding more into Europe with the United Kingdom a favorable local in addition to the United States.
Of note, due to Brexit, the pound is priced more within reason, especially when compared to the dollar two years ago. The result is a softening of the property market which naturally would appeal to someone has forward-looking as Hussain Sajwani.