CEO of DAMAC Hussain Sajwani Has an Eye for Opportunities and Does Not Hesitate to Take Them
One of the United Arab Emirate billionaires is Hussain Sajwani, the CEO of DAMAC Properties. He started slowly in property development and has now built an internationally recognized company. He grew up in Dubai, and because he was brilliant in school, the government offered him a scholarship to study abroad. He was enrolled at the University of Washington where he studied for Industrial Engineering and Economics degree.
After completing a college education, the DAMAC owner was hired by GASCO, a natural gas enterprise which later became the Abu Dhabi National Oil Company. While still at GASCO, he started getting interested in catering services and then established a small venture in Dubai downtown. It began attracting customers such as the US military and large construction companies. Later it became a well-recognized company know as Global Logistics Services and has even diversified its business to hotels in Middles East and also in parts of Africa,
The CEO of DAMAC next venture was in real estate. The profits of the catering services company helped him to start purchasing land in the neighborhoods that were underdeveloped in Dubai. He saw it an opportunity for future earning and his expectation came true when the demand for land in these regions spiked. Investors from UK, India and other regions started investing in Dubai real estate industry because the government finally allowed expatriates to own property. It is at this point that his company was born.
Hussain Sajwani first started DAMAC with a strategic plan of selling properties and the down payments made to the company would go to his construction projects. Its properties were selling fast and he ended up building various towers in Dubai turning into an attractive jewel that attracted both local and international investors.
The CEO of DAMAC set himself apart from the rest of entrepreneurs in Dubai by applying creative marketing strategies to his properties. The company is currently the most contracted company in the region and its value is approximated at $4.5 billion. Hussain Sajwani has always remained opened minded since the beginning and that is how he cemented his position among the top companies in real estate in the Middle East and the world.