Meet Hussain Sajwani — DAMAC Owner and Chairman
Hussain Sajwani is a successful entrepreneur, best known for his role as owner and chairman of DAMAC Properties, a global property development company headquartered in Dubai. He’s a United Arab Emirates national, born to a likeminded entrepreneur father. Sajwani attended college in the United States where he graduated from the University of Washington with a bachelor’s degree in the field of Industrial Engineering and Economics.
His career journey started in 1981in the finance department at Abu Dhabi Gas Industries. Two years later, Hussain Sajwani began Global Logistics Services, a catering business venture that has since expanded to become a leader in the industry, comprised of over 200 projects across Africa, the Middle East and the Commonwealth of Independent States (CIS). Sajwani’s catering enterprise is capable of serving more than 150,000 meals a day in a variety of markets including 5-star hotels, army camps, construction sites, and educational institutions, to name a few.
Sajwani’s interest in real estate however, started to grow after seeing the growing number of people that were travelling to Dubai for business in the mid-90s. As a result of this observation, Sajwani decided to fill the need by building several hotels to accommodate this growth in demand. These projects provided the funds that Sajwani would use to pursue his dreams to build iconic towers in strategic areas of Dubai.
Being an ambitious entrepreneur, Sajwani also established DAMAC Properties, a property development company. Today, DAMAC Properties is one of the largest real estate development companies in the Middle East, with a vast portfolio of successful projects. The accomplishments of DAMAC Properties are attributed to Sajwani’s property development knowledge as well as his past in sales, finance, law, marketing and administration. In 2017, Sajwani was named one of the Top 100 Most Influential Arabs by Gulf Business.
About DAMAC Properties
Established in 2002, DAMAC Properties is part of the DAMAC Group founded in 1992 by Hussain Sajwani. Throughout the years, DAMAC Properties has had an excellent track record while completing a long list of residential, commercial, as well as mixed-use projects across Dubai, Qatar, Abu Dhabi, Amman, Beirut, Doha and the United Kingdom of Saudi Arabia. DAMAC has also expanded its projects to other key regions including Lebanon, Jordan, and the United Kingdom.
To date, the company has successfully developed over 20,230 units, with a total of 44,000 units including those at various stages of the development and planning process. These units include 13,000 hotel rooms which range from villas to serviced hotel apartments.
DAMAC Maison Hotels & Resorts, which is the hospitality division of DAMAC, was launched in October 2011. This branch includes a chain of hotels and serviced hotel complexes such as DAMAC Maison Dubai Mall Street, DAMAC Maison Royale The Distinction, DAMAC Maison Cour Jardin and DAMAC Maison Canal Views. With these establishments, DAMAC properties became one of the largest hotel apartment developers and operators in Dubai.
In December 2013, DAMAC Properties became the first Middle Eastern property development company to be listed on the London Stock Exchange (LSE). This was after raising the $379 million Initial Public Offering (IPO) through a depository receipts global program.
In January 2015, this real estate company was also listed on its home country’s market exchange, the Dubai Financial Market (DFM). Forbes Magazine ranked DAMAC Properties number one on the Forbes 2017 Global 2000 list, featuring the fastest-growing companies in the world based on a composite score based off revenues, assets, profits and market value.
DAMAC Master Developments
DAMAC’s master developments are based in Dubai, spanning more than 100 million square feet. These projects are strategically built around globally-renowned golf courses with several luxury apartments and villas complemented by entertainment, lifestyle, hospitality, and retail offerings.
To bring other unique living concepts to the global market, DAMAC Properties has forged partnerships with internationally renowned enterprises and fashion brands. Such brands include Versace, Bugatti, Just Cavalli, Fendi, The Trump Organization and Paramount Pictures. And with each of these partnerships, Sajwani has promised to build uniquely conceptualized hotels and resorts that offer investors a true taste of luxury living.
Company’s Secret to Success
The success of this property development company has been attributed to Sajwani’s entrepreneurial skills and business vision. He has been able to transfer theoretical business ideas into corporate reality while also providing the necessary leadership needed to maintain business growth and continuity.
Hussain Sajwani also credits the growth of the company to his resolution to empower his over 2,000 employees and give them the freedom to pursue what they do best.
As an innovator, Sajwani is always moving to the next project, learning new things and skills so as to re-invent and challenge himself. Always setting new challenges to overcome helps him and his company evolve and grow.
Other key Investments of Hussain Sajwani
Sajwani’s second largest company is DICO Investments Company LLC, which focuses on private equities, mergers, and acquisition. The company holds both the minority and majority assets in publicly traded companies. DICO Investments Company is also on the lookout for investments in the regional as well as global markets.
Another noteworthy company Sajwani has founded is Al Jazeira Services, a regional investment initiative. This company was listed on the Muscat Securities Market in 1997 with over $110 million in market capitalization. Since then, it has produced remarkable results regardless of the ever-changing market conditions.
In addition to these investments, Sajwani is also interested in the world of trading, especially with Al Amana Building Materials based in Oman, representing world-famous names such as Dorn Bracht, Villeroy and Boch. Similarly, Sajwani has an interest in Al Anwar Ceramic Tiles Company, which was established 1998 and is the first of only 2 tile manufacturers that are found in the Sultanate of Oman.
Sajwani’s Board Positions
JUNO Online, New York
Majan University College, Muscat Oman
Emirates Takaful Company, Abu Dhabi
Hussain Sajwani currently lives in Dubai together with his beloved wife and their four children.