Hussain Sajwani is an imaginative and forward thinking business from Dubai who has been a major force behind the real estate explosion in the United Arab Emirate and Dubai. He originally thought it would be a bad idea for him to be a businessman when he was made to work long hours after school in his father’s clock shop.
His attitude changed however, when he found a way to buy large amounts of candy and resell it to his fellow students at school. He went on to graduate from the University of Washington in the United States with a degree in engineering. For a while he worked as an oil company executive, but then formed a catering company which supplied the bulk of the food for the US Army during the Gulf Wars.
When a statute was passed in the United Arab Emirate that allowed foreigners to take up permanent residence, Sajwani saw a golden opportunity. In 2002, he launched Damac Properties and his first real estate venture. Through skilled financing, sales, and promotion, he sold out his initial 38 story project, well before construction had even begun.
Sajwani has a flair for promotion and he will use any means to get the attention of buyers. He is well known for his earlier promotions such as offering a new Bently for each apartment owner. The Damac owner is credited for being one of the major influences for the real estate boom in Dubai and neighboring areas. His brilliant marketing insight and business acumen have been the key to his overall success.
Sajwani always pays cash for the land which establishes the permanency of his property position. Each property operates under a separate bank account which causes each property to stand on its own with no transferring of cash from one property to another. Cash reserves are put into place in case there is a downturn in the economy. That way funds are always available for construction.
The Hussain Sajwani family is very involved at different levels in the business as he has his eye on future generations playing key roles in the business as it grows and evolves.
Check out Hussain Sajwani on LinkedIn.