DAMAC owner Hussain Sajwani is quite clearly a success. The emirati businessman has, through his own efforts, become a multi-billionaire with a net worth of approximately $3.8 billion.
Hussain Sajwani’s net worth puts him in the same league as people such as American President Donald Trump–who comes in at a net worth of an estimated $3.1 billion. Hussain Sajwani has actually been compared to Donald Trump, and the two have become friends.
Of course, Hussain Sajwani was not always a multi-billionaire. In fact, he grew up in a rather middle class family. It was not until he forged his own path of success as an adult that he entered the financial stratosphere.
Before establishing DAMAC in 2002, Hussain Sajwani had already built up an impressive food services business. This business, which he created in 1983, landed contracts with major clients such as construction behemoth Bechtel. He kept this business even after opening DAMAC, and he still owns it today.
After positioning himself as DAMAC owner, Hussain Sajwani forged ahead with turning his newly minted company into a regional property development powerhouse. Read more: Hussain Sajwani | Twitter and Hussain Sajwani | Forbes
DAMAC was created at just the right moment; it came into being right after Dubai’s laws changed to open up property ownership within the emirate to non-emiratis. Hussain Sajwani saw the possibilities that this afforded his company.
The first project undertaken by DAMAC was a high-rise apartment building. The key target as buyers for this new residential building was, unsurprisingly, foreign buyers. This approach proved a success for Hussain Sajwani, and his company was off to a strong start. The property completely sold out before construction on it had even begun.
Since that time, DAMAC has grown into one of the largest property development companies in the Middle East. It is noted for its luxury properties, and it has been credited with having helped to shape Dubai’s image.
Among the projects that DAMAC has engaged in have been two Trump-branded golf courses.
These collaborations helped to forge a strong bond between Hussain Sajwani and Donald Trump–with both men having repeatedly spoken highly of each other.
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