Hussain Sajwani is the founder of Damac properties. He started the real estate company back in 2002 following the decree by the Dubai government to allow foreigners to invest and own houses in Dubai. He saw this as an opportunity, and it paid off with the company having a valuation of about 4.3 billion dollars to its name. He started off in the food industry and worked with the USA army through providing food for the soldiers among other services in their missions such as operation desert storm in 1991 in Iraq, in Somalia, Bosnia and also in the Gulf.
He was born in the year 1953, is a resident of Dubai, United Arabs Emirates. He is married and has four children. He is also a holder of a degree, Bachelor of arts/science from the University of Washington.
He has good personal and business relations with the current USA president, Donald Trump had had several business deals before he even became president. Damac collaborated with Trump to develop an international golf course project that will contain luxury villas with an expected turnover of about 2 billion dollars after their sale. Hussain Sajwani has on occasions received invites to ceremonies by Trump, the recent one being the victory ceremony in his hotel Mar-ag-Lago resort in Florida with his family.
The company is now seeking to expand its investments in different countries in the region such as Saudi Arabia and Turkey. The company has also adopted a business model that ensures that the company can stand tough economic times (http://www.thenational.ae/business/industry-insights/property/damac-chairman-relishes-his-roots). They include; buying of land with no debt by paying upfront for the purchase of the property. Secondly, they assured that the escrow accounts are independent of each other, so no transfer of funds from one project to fund another. Each plan supports itself. They also ensure that they maintain enough cash reserves in fixed deposits with financial institutions or government bonds that are sufficient to fund secure their ongoing projects.
Hassani Sajwani is also a generous man. He has been involved in various community services and also donated funds to support the campaign to clothe deprived children across the world. He donated AED 2 to the campaign. Also, as a real estate developer, Damac has been in the front row to help the government in improving the state of housing and living in the country by providing proper housing facilities. The company also supports the Red Crescent, a humanitarian organization which seeks to alienate the suffering of people in the world.