Over the years, the real estate industry has experienced great positive changes with new brands and innovative property development ideas opening up opportunities for the entrepreneurs to venture into the business. Hussain Sajwani is one of the prominent businessmen and a great investor in the real estate development. In fact, he is one of the pioneers of property market expansion in Dubai.
The renowned property developer was born in 1956 in the United Arab Emirates. He graduated in 1981 with a Bachelor’s Degree in Economics and Industrial Engineering from the University of Washington. Like most fresh graduates, Hussain started his career as an employee at GASCO Company, where he served as a Contract Manager shortly after graduating. His entrepreneurial spirit, which he had developed at a tender age, led him to establish his first venture after working for GASCO for a short duration. Hussain started with food service business. The small entity attracted a great number of clients, mostly those who were working in the oil companies, US military officers, and construction giants like Bechtel. From the humble beginning, the catering venture expanded to become a market leader.
Following the decree that was given by Dubai government to allow foreigners to own properties in the Emirates, Hussain took advantage of the situation and started a real estate development firm called DAMAC in 2002. Hussain is currently the Chief Executive Officer and Executive Chairman of DAMAC Properties. The firm has come a long way. Hussain started purchasing land in undeveloped parts, initiating property development projects, and later selling them at a profit. Due to his effective approach, he managed to sell 38 units in less than six months.
Currently, the company is known all over for developing diverse types of luxury structures in collaboration with other reputable companies. The company’s shares have traded well in Dubai and London Stock Exchange Market. In addition, Sajwani has also established other companies like Al Amana Building Materials, Al Anwar Ceramics, and Al Jazeira services.
Despite his numerous roles, Hussain is a proud father who likes spending quality time with his family. He also participates in charitable endeavors and he has established a charitable division of DAMAC with the aim of helping the underprivileged in the society
Article source: https://www.eremnews.com/news/arab-world/gcc/906780