In 2002 the Dubai government signed a law that would allow foreigners to buy and also own properties in the Emirates. After the decree, many different companies including the DAMAC Properties ventured into the real estate business.
Hussain Sajwani, the DAMAC owner, bought a land in an undeveloped area. Hussain’s main target clients were the foreigners seeking to buy properties in the region. Soon after he purchased the land, Sajwani managed to sell units in his residential buildings in six months. He has established luxurious properties in Dubai, which has improved Dubai’s reputation in the real estate industry.
Hussain Sajwani has built relationships with other international real estate investors. One of his significant business relationships has been with President Donald Trump. The two formed the business relationship in 2013 before Donald Trump became the President. Donald Trump invited Hussain Sajwani family for his new year’s party. Hussain Sajwani is married with four children.
Hussain and Donald Trump partnered to oversee the construction of two state-of-the-art golf courses. The first golf course; The Trump International Golf Course was opened in February 2017. The other golf course is under construction, and it is anticipated it will be ready in 2018. Tiger Woods is the man behind the two golf courses designs.
DAMAC Properties, founded in 2002 is part of the DAMAC Group that was formed in 1992. The company has established different award-winning commercial and residential project across the Middle East. They also have projects in other countries including United Kingdom, Lebanon, and Jordan.
Recently, the real estate Company launched the DAMAC Hills, located around the Trump Golf Course. The new residential area comprises of apartments, mansion, townhouses, and Villas. This new project has been recognized as one best development in Dubai. Hussain Sajwani has also ventured into the hospitality business by establishing hotels and resorts. As of 2016, the Company had five hospitality projects.
Hussain is one of the richest in Dubai and is worth $ 4.4 B. Sajwani graduated with a Bachelor of Arts and Science from the University of Washington.
For more details, visit http://www.hussainsajwani.com/.