Hussain Sajwani is the inventor, chairman of DAMAC Properties as well as DAMAC owner. Hussain graduated from the University of Washington and started his career in GASCO as a Contracts Manager. He established a catering venture in 1982. DAMAC owner is among the pioneers of the property market expansion that occurred in Dubai. In 2002, Hussain founded DAMAC Properties. In the Middle East, DAMAC is among the largest development company. The success of DAMAC is linked to Hussain Sajwani’s expertise in the field of property including administration, sales, legal, marketing and finance. As an investor, Sajwani has track records of success in the global equity as well as the capital markets.
According to bezaat.com, Hussain’s flagship investment company is DICO Investment Co LLC which focuses on private equities’ investment, acquisitions, mergers and holdings in companies that trade publically. In 2008, DAMAC Properties experienced a crisis which they overcame by controlling costs, strict measures on buyers and reining in some projects. DAMAC Property now has a business model that is based on three principles; no debts for land whereby it is fully paid at the beginning, independent escrow accounts in which every development supports itself without the need to transfer cash from an account to another and to retain sufficient cash reserves in government bonds or fixed accounts to ensure ability to support construction schedule if the market turns.
DAMAC Properties employs nearly 2000 employees and has delivered more than 20230 homes. DAMAC through DAMAC owner has provided donations for clothing more than 50,000 deprived children all over the world. DAMAC Properties has also been in support of the efforts of His Highness Sheikh Mohammed in improving the lives of others especially during Ramadan. Hussain Sajwani has continually supported Dubai’s government efforts of bettering the standard of living. In 2011, DAMAC Properties invented a hospitality division which aimed at providing bespoke services occupants in 7,959 serviced hotel apartments by 2016.
In 2013, DAMAC Properties collaborated with Donald Trump to develop two Donald-branded golf courses in the development of Dubai. The golf clubs have recorded about $ 2 billion sales. Hussain Sajwani managed to enhance his investment relationship with Trump Organization, and real estate firm of Donald Trump. In addition, he co-branded with Versace and Bugatti.