How Hussain Sajwani Built DAMAC Properties Into A Business With International Scope
While Hussain Sajwani is mainly known for being the founder, chairman of the board, and chief executive officer of DAMAC Properties, this wasn’t actually his first business venture. He founded this company in 2002 but 20 years before he established his first business which started out as a fledgling catering venture. Today this catering venture, Global Logistics Services, is an international firm feeding over 150,000 people a day at hotels, construction sites, military bases, and other places where a large number of people congregate.
DAMAC Properties is also international in scope. As Hussain Sajwani is a UAE national his first real estate projects were located in and around Dubai. He has also built residential and commercial property developments in other Middle Eastern cities like Cairo, Abu Dhabi, Damascus, Jeddah, and Ankara. He recently started building a luxury residential tower in London called Tower Nine Elms London. Once this DAMAC Properties project is completed it will have 50 stories and an ultra-modern look inside and out. He partnered with Vercase Home on this tower who are completing the interiors to their usual opulent standards. He’s also looking to build in Asia and North America.
Hussain Sajwani (@hussainsajwani) has also partnered with Donald Trump on some properties. One of these is the DAMAC Hills mega project. This development includes DAMAC Properties first golf club which will be managed by the Trump Organization. Hussain Sajwani’s company is presently putting in the finishing touches on a similar project called OKOYA Oxygen which also has a golf course, this one personally designed by Tiger Woods.
Hussain Sajwani is a family man who is married and has four children. His oldest son, Ali Sajwani, graduated from Boston’s North Eastern University and has an economics degree. He returned to the UAE after graduating and now works at DAMAC Group, Hussain Sajwani’s umbrella firm, as a general manager of operations. He also recently had his daughter, Amira Sajwani, get married. Attending this event was Sheikh Hamdan, the Deputy Ruler of Dubai, a number of royal family members, and many foreign dignitaries.
DAMAC Owner, Hussain Sajwani
Hussain Sajwani founded DAMAC Properties in 2002 and remains its majority shareholder and chairman. The company is the top luxury real estate developer in Dubai, the United Arab Emirates. It is famous worldwide for developing some of the most beautiful buildings and properties in the world.
Sajwani was born in either 1952 or 1953. He entered adult life by attending and graduating from the University of Washington with a B.A. in engineering and economics. In 1981 he worked in the area of finances at Abu Dabi Gas. In 1982, he started a catering business. Today it is one of the biggest catering businesses in Dubai. It currently manages over 200 projects worldwide and serves more than 150,000 meals a day to groups in a wide array of industries.
The Sajwani, the DAMAC Owner, entered the real estate industry. In the mid-90s, he built a number of hotels in Dubai. His real estate endeavors went to well and were so successful that in 2002 he founded DAMAC Properties.
Over the years Sajwani has garnered a vast amount of experience and knowledge in Marketing, sales, legalities, finance, and administration. DAMAC employs around 2,000 people and has shares traded on the Dubai Financial Market. Throughout its history, it has also partnered with many of the top fashion and lifestyle brands in the Dubai area. Some of their most lucrative projects have included a golf course designed by Tiger Woods, various luxury apartments (over 19,000 since inception), luxury villas, and some of the top hotels in the world.
It is estimated to be worth about $2.9 billion. Forbes stated that Sajwani is currently the 4th richest Arab, with a net worth estimated at $4.1 billion. He has also been listed by Gulf Business as one of the 100 most globally influential Arabs. In 2017 DAMAC began sponsoring the Dubai Future Foundation’s One Million Arab Coders Initiative which seeks to provide free software development training to 1,000,000 young Arabs.
From this source: https://www.albayan.ae/economy/local-market/2018-02-12-1.3184075
New York City Real Estate Heats Up
New York City real estate is still in high demand, as economies around the world are in turmoil. With Britain exiting the EU, many are concerned the other countries will soon follow. France, Holland and Denmark have been named as considering leaving the Union. The Middle East being in disarray is another worry on investors’ minds. When uncertainty prevails, investors look for a safe haven. That is many times U.S. Treasury Bonds. That is the case once again.
Japan and German bonds currently carry negative interest rates, making everything in the U.S. look even better. Ten-year U.S. Treasuries recently dropped to 1.47 percent. That is about 1 percent lower than a year ago. Still, people are buying them in a “flight to quality.” This flow of money into the United States, heads mainly to New York City. With Treasuries fairly low, investors look for other income producing investments. This is pushing up real estate prices, as the New York economy shows signs of a continued boom.
Due to the recent trend, Town Residential has become one of New York’s top luxury real estate services. They offer a best-in-class customer service to real estate buyers in the city. They specialize in luxury residential sales, leasing, and commercial real estate. They offer a new standard to the industry.
Town Residential has a team of professionals who understand the New York marketplace. They are listed as one of the Top 50 Best Places to Work in New York City. With an excellent support system, Town’s Representatives are able to offer their clients a top level service and expertise.