How Hussain Sajwani Built a Real Estate Empire with DAMAC
Hussain Sajwani is the originator of DAMAC Properties, Inc., a Dubai real estate development and management company. The company was formed in 2002 when The United Arab Emirates passed a piece of legislation that allowed foreign nationals the opportunity to purchase property in the Emirates and live there.
Sajwani predicted that this would create a land boom and he wanted to be right out in front of it. He began to purchase land and promote his new luxury apartment living accommodations. He correctly surmised that there would be many immigrants who would have money, so he wanted to promote the best luxury living quarters possible.
He was a master salesman and his advertising was second to none when it came to putting forth the most high-end and luxurious accommodations. For example, “A New Bently For Each Luxury Apartment,” was offered liberally in his ads and it was a promise kept. He brought in the best designers, builders, and architects from around the world and the whole effort was a great success. His first project was sold out before any construction was even started.
According to Arab News, Sajwani had good training when as a young schoolboy, he worked after school for his father in the family variety store. The hours were long, but he had the chance to really get to know customers and how they thought and functioned. As a boy, however, he thought the hours were too long, so he just knew that he would never be a businessman.
An early project in the mid to late 1980’s was a catering company that sold meals to the US Army and subsidiaries. This venture was a great success and is still a part of the business structure owned by Sajwani. Sajwani learned how to manage a larger company with this experience and he made very important international contacts that would serve him well later.
Today, many family members have moved into key management positions and Sajwani (@hussainsajwani) is able to spend more time in overall, broadscale planning for the company. There are always new projects in the offing as well as the demand for Sajwani’s time in advising key partners and political leaders. See this YouTube video featuring Sajwani and DAMAC.
Discover more here: https://www.forbesmiddleeast.com/en/tag/hussain-sajwani/