Damac Properties is a firm founded by Hussain Sajwani in 2002. Mr. Sajwani is the current Chairman of Damac Properties. The Company’s headquarters are located in Dubai. Damac Properties carries out the development of leisure, commercial, and residential properties in different parts of Dubai and the Middle East at large. Damac Properties has invested in real estate projects in cities such as London, Beirut, Jeddah, Dubai, Riyadh, Doha, and Amman among others.
Asan astute investor and businessman, Hussain has a proven track record of conducting successful business operations in capital markets and global equity. Hussain Sajwani still holds investments in numerous global and regional markets. For instance, Sajwani has shares in DICO Investments Company. DICO Investment Company focuses on investing in mergers, private equities, and acquisitions. Additionally, DICO Investments holds minority and majority holdings in public companies. The firm always looks out for opportunities of value propositions in both the regional and global investment sphere.
Mr. Sajwani has an amazing education and career history. The Damac owner attained a BSc in industrial engineering and economics from Washington University. After completing his studies, Sajwani started working at Abu Dhabi National Oil Company to build his career. At the company, Sajwani worked as the Contracts Manager. While still working at the enterprise, Hussain felt the urge of starting his own company. In 1982, he managed to start a catering venture. He still operates the company which is now big in Dubai. Hussain Sajwani also started Twilight Investment Company.
The government of Dubai allowed non-citizens to own property in Dubai. Hussain saw a good business opportunity of the government’s decree. He pictured that the main buyers of Damac company’s properties would be non-emirates. Hussain Sajwani bought land and developed it under Damac properties. In about six months, Hussain sold all units in the 38-storey building completed. Hussain Sajwani family has also contributed in running the business through maintaining good relationships with prominent people such as Donald Trump. Damac Properties has carried out a lot of development projects that have made Dubai a great city. It is worth mentioning that Damac Properties has employed approximately two thousand people thus raising their living standards.
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