Sometimes all it takes for success is a good idea and lots of hard work. Timing enters in as well, as it did for Hussain Sajwani. Young Hussain grew up in Dubai where, as a schoolboy, he helped his father after school with the family variety store business. The hours were long and he related to his father that being a businessman would not be for him when he grew up for that reason.
However, just the opposite came true as Sajwani today is one of the most prominent real estate businessmen in the world. He is the founder and owner of DAMAC Properties, Inc., one of the largest and most successful real estate development and management companies in the Middle East. His advice and business expertise are sought by many all over the world.
Even though Sajwani earned degrees in Economics and Engineering, because he yearned to become a professional man so he would be able to work regular hours, he became one of the most successful entrepreneurs in the Middle East. An early venture was a catering company that sold meals to the US Army during the Gulf Wars, which was a very successful operation. That business is still going strong to this very day.
DAMAC Properties, Inc. was formed in 2002 when the United Arab Emirates allowed foreign buyers to purchase property in the Emirates and take up residence there. DAMAC began purchasing property and Sajwani began his relentless marketing efforts. He was so successful that his first project was completely sold out before any construction even began. His slogan of, “A New Bently Comes with Each Luxury Apartment,” was certainly an attention-getter to the buying public.
Sajwani, the DAMAC Owner, was careful to pay cash for the land so there would always be a solid foundation for the property. He also kept separate accounting and banking accounts for each project so that each endeavor would stand on its own. This practice proved fortuitous when later, a downturn in real estate occurred.
Today, DAMAC is a family-run business with properties from London, Paris, the UAE and projects on the drawing board for other Middle Eastern locations. Sajwani has come a long way from the days of working for his father, and he has become one of the most successful businessmen in the world.