Billionaire DAMAC Owner Hussain Sajwani Continues To Dominate Dubai’s Luxury Real Estate Sector
Hussain Sajwani has built a fortune of more than $4 billion after being created in 2002 by the entrepreneur who built his initial fortune through the establishment of a food services company. The initial real estate business of Sajwani was located in the midrange hotels opened in the 1990s after the fall of the Berlin Wall brought new tourists to areas of the Middle East from former Soviet countries; after proving himself to be a major success in his first real estate venture, Hussain Sajwani quickly moved into the Luxury real estate business who the United Arab Emirates changed its rules about ownership of property in and around Dubai. Learn more: http://www.thenational.ae/business/industry-insights/property/damac-chairman-relishes-his-roots
During the creation of DAMAC Properties, Hussain Sajwani looked at the financial problems his peers in the luxury real estate industry had been struck by and found new ways of avoiding these problems. Through his new financial system, Hussain Sajwani was largely unaffected by the global economic crisis of 2008 which claimed the companies of many of his fellow luxury real estate developers. Hussain Sajwani’s DAMAC Properties develops a number of luxury properties at any time but makes sure the funding for each apartment block or luxury golf course resort is held separately from all others to ensure an accurate overview of DAMAC finances is always available.
In continuing his personal growth in the luxury real estate sector, Hussain Sajwani has developed partnerships with some of the world’s leading developers including U.S. President Donald Trump. The business partnership formed by the Trump Organization and DAMAC has resulted in the development of two golf course resorts, the second of which will open early in 2018 with a Tiger Woods-designed course.
Hussain Sajwani and Donald Trump first came together as business partners in 2013 and have achieved a large amount of success together but have been forced to bring the business relationship to a temporary halt because the President will not complete any new international deals while resident in The White House. Hussain Sajwani has stated a $2 billion contract to continue the working relationship with the U.S. President will remain on the table when Donald Trump completes his term in office.