Hussain Sajwani is one of the wealthiest people in the Middle East with a net worth of about $4.1 billion according to Forbes. He was born and raised in Sharjah, United Arab Emirate. His father owned a business where he sold pens, watches, shirts, and other products he imported from China while his mother sold other products of use around the house to other women in the neighborhood he grew up in.
After earning two degrees at the University of Washinton in economics and engineering, paid for on a government scholarship, Hussain Sajwani (@HussainSajwaniOfficial) moved to Dubai and soon launched his first company. This was in 1982 and that company, Global Logistics Services, is still going strong as a catering venture.
In 2002, he founded DAMAC Properties. He is the company’s chairman of the board of directors. His company builds beautiful property developments that are purchased by people all over the world including from the European Union, Asia, Africa, and other countries in the Middle East. DAMAC Properties is focused on creating luxury residential properties and builds both villas and residential towers.
Real estate investor Hussain Sajwani was interviewed while attending the World Economic Forum 2018. He said that DAMAC Properties and the Trump Organizations formed a commercial deal where his company built two golf courses that will both be managed by Donald Trump’s organization. He says these two courses are among the best in the world and have helped DAMAC Properties do great business selling the homes around them.
DAMAC Properties has been building just shy of 10,000 homes annually for the past few years. Hussain Sajwani said that he plans to bump this up to somewhere between 10,000 and 12,000 homes now. He says the Dubai market is stable and very attractive to buy in right now that is expanding by about 6 percent annually.
As DAMAC Properties balance sheet is not presently fully leveraged, Hussain Sajwani (@hussainsajwani) is looking to expand his company beyond the Middle East. He is looking at building in Europe, North America, and Asia. He feels London is the biggest opportunity as talk of Brexit has dropped property valuations there and made the British pound less expensive.
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