Hussain Sajwani is the chairman, CEO and the founder of the DAMAC Group, a company he founded in 2002 thanks to the Dubai government decree that allowed ownership of property for foreigners in the Emirate. He saw the foreigners as the primary potential apartment buyers. Husain Sajwani bought land in a then undeveloped side of the town and managed to sell units in his residential building in six months. Since he started construction, Hussain has painted Dubai’s image as a glittering destination.
DAMAC is a UAE based company that deals with glitzy property developments and real estates and associated with eye-catching marketing stunts such as the ‘free Bentley with every luxury apartment.’ The company had a very different origin; it provided food services to the United States Army during the Iraq War in 1991. The company worked for the American in Somalia, the Gulf, and Bosnia. The food business is still part of the group’s operation and serves as a reminder to Mr. Sajwani of his first expertise. However, the company is considering a public offering of shares on the London Stock Exchange.
DAMAC Properties own 8,890 completed units covering 9,070,264 sq. Ft. and has 19,136 units in progress at various places across the middle-east covering 23,816,070 sq. feet. Out of these apartments, 5,193 of them would be completed within 2013. In 2011 October, DAMAC Properties launched DAMAC Maison, a hospitality division that will provide services to people in hotel apartments, a position that will place this company among the most significant hotel apartment developers and operators in the world.
Hussain Sajwani, DAMAC Owner Partners With Trump
Sajwani hopes to enhance his ties with Donald Trump’s real estate company, the Trump organization. The two real estate heavyweights celebrated the New Year’s Eve together, and Hussain Sajwani family and that of Donald’s relationship seems to have been extending further. Mr. Sajwani’s firm DAMAC has built the Trump International Course Dubai.
Sajwani’s Philanthropy Activities
Mr. Sajwani with DAMAC properties has made contributions as part of its part of the support for government’s effort to improve people’s standards of living. Hussain Sajwani handed over a two million AED cheque a campaign to provide clothing to needy children around the world. The campaign was started in conjunction with the Emirates Red Crescent and raised a total of AED 120 million.
Follow Hussain Sajwani on Facebook.