When Hussain Sajwani worked for his father as a schoolboy in the family store, he obviously learned a lot, as today Sajwani is one of the wealthiest Arabs in the world.
It was a little different back then when he was under his father’s tutelage in the Dubai variety store that featured imports from China, office supplies, and consumer items. Hussain had remarked to his father that he thought he would rather just get a degree and be a professional, rather than be self-employed and have to work all of those hours.
Hussain did receive a degree from the University of Washington in economics and engineering. He then returned home to Dubai where he started work as an engineer with a Dubai gas company.
Hussain’s role as an employee came to an end, however, when he saw an opportunity and took advantage of it. He launched a catering company which sold food to the US Army during the Gulf Wars in the early nineties in Kuwait and Iraq.
That venture was a great success and Hussain learned a lot about running a good sized company in the bargain. Learn more about Hussain Sajwani: http://www.arabianbusiness.com/the-world-richest-arabs-2014-574217.html?view=profile&itemid=574179#.WHgeI2QrIUs
In the year of 2002, Sajwani established DAMAC Properties, a real estate development and management firm to take advantage of another opportunity.
The UAE had just announced that they were relaxing the rules in regard to foreign nationals immigrating to the UAE. Sajwani predicted that this would be the cause of a very large boom in real estate and land development, and it turned out that he was right on the money.
Sajwani was very good at promotion and marketing and the DAMAC brand was well-known early due to his efforts. In fact, his very first real estate project was sold out completely before the construction was even started.
DAMAC was to become the foundation of the Hussain Sajwani family becoming a real force in the real estate market in the Dubai area and beyond.
Since the foundation of DAMAC, the company has built 19,000 apartments and there are 44,000 more properties that are in different stages of development.
Sajwani, the DAMAC owner is the spark behind the firestorm of the development and implementation of this dynamic brand.