DAMAC Owner: Hussain Sajwani

He is a UAE national and the founder of DAMAC Properties. Hussain Sajwani helms the lead as Chairman of his successful development company worth billions. When he graduated from the University of Washington, he began his career as a Manager working in contracts in the GASCO, which is a subsidiary of ADNOC (Abu Dhabi National Oil Company.) He then moved on in 1982 where the future Damac owner started his catering venture business. This included landing over 200 projects that propelled him to working and serving nearly 150,000 meals. These included areas such as army camps, campsites, five-star hotels, educational institution and many off-shore locations. His particular division targeted ancillary services such as maintenance, camp management and manpower supply. From here, Hussain Sajwani became a global pioneer in the development of properties throughout Dubai’s real estate market. This also included locations such as London, Riyadh, Beriut and Doha.

The Damac properties have nearly 2,000 employees and is listed as a public company. It’s shares appear on the Dubai Financial Market where it is mostly traded. During the 90s, Hussain Sajwani built many hotels specifically for those coming to Emirate for business and trade. In 2002, he saw and even identified the opportunities in the market which had his company growing fast and became the largest in the Middle East. The Damac owner used his expertise in the legal, finance, marketing and administration field to drive his company.

According to Saudi Projects, it didn’t take long for Damac to lead in building luxury homes and having nearly 40,000 units in planning. They soon joined partnerships with highly recognizable brands in the fashion and lifestyle industry. This brought about new concepts and ideas to the market for Damac. One notable celebrity golf course was designed for Tiger Woods that’s managed by the Trump Organization. The developments have lavish interior from styles like Bugatti for its luxury villas. This also includes Paramount Hotels & Resorts that were designed for opulent services. It was in 2011 of October, DAMAC properties introduced another division catering to hospitality called DAMAC Maison. It was created with the purpose of giving services to hotel residents in over 15,000 rooms.

Article source: https://www.albayan.ae/economy/local-market/2018-02-12-1.3184075

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