History

 

 

While entrepreneurship and business sound exciting and profitable to many people, the ground is not usually as easy as it may seem. A good example of a man who has consistently managed to build his business successfully is Hussain Sajwani. Hussain Sajwani was born in 1956 and is the current leader, chairman, founder and chief executive officer of DAMAC Group. Hussein started the DAMAC Group in 1992. It was initially a company specializing in catering.

 

 

Background

 

 

With its headquarter in Dubai, DAMAC has affiliates across the Middle East, CIS States, Far East, the Subcontinent and North Africa. In 2013, November, DAMAC Group announced that it was planning to sell global depository receipts and raise approximately $500 million. The worth of the company as at 4th November 2013 was over $4 billion. Hussein owns an estimate of 85% in the DAMAC Properties. His net worth value is approximately over $ 3.5 billion.

 

 

DAMAC Polishes Dubai

 

 

Having founded a residential real estate company in 2002, Hussain Sajwani took advantage of the government of Dubai’s decree that permitted the foreigners to have individual property. Hussein founded the DAMAC Properties after purchasing land in an underdeveloped region of the Emirates. Hussein’s first sale was the 38-story building, an asset he sold in approximately four to six months in business. He later reemerged in the construction industry. He has since committed to assisting Dubai with polishing its image while making it a luxurious destination for foreigners.

 

 

Partnership with Versace

 

 

Just recently, DAMAC Properties merged with Versace and Fendi, prominent luxurious brands, in a bid to design apartments. In the project, Donald Trump was in charge of creating golf courses. The selling point included freebies like a Lamborghini or BMW. These were meant for all January buyers. Hussein’s business flourished from the industry of food service. He managed to attract clients from the military of the United States as well as Bechtel, a construction sector. His food industry continues to flourish in most service firms.

 

 

About DAMAC Properties

 

 

Having been founded in 2002, DAMAC Properties is a private residential, commercial developer for real estate and leisure. It is located in the Middle East and Dubai. From its establishment, DAMAC Properties has expanded its growth to Jordan, Qatar, North Africa and Lebanon. DAMAC strives to deliver luxury to its clients through architects, contractors, and designers.

Learn more:

http://www.thenational.ae/business/industry-insights/property/damac-chairman-relishes-his-roots

http://www.nbcnews.com/news/world/dubai-billionaire-hussein-sajwani-ready-do-more-deals-trumps-n695566