DAMAC owner Hussain Sajwani is undeniably a business success story. The Dubai businessman has amassed a net worth of approximately $3.8 billion, and DAMAC has had a significant role in that.
Hussain Sajwani grew up in Dubai and pursued his post-secondary education in the United States. Then, he returned to the region of his birth and started his career at a gas company.
After two years working in the finance department at Abu Dhabi Gas Industries, he started his own company in the food services sector.
That food services company was Hussain Sajwani’s primary focus for nearly two decades. Then, in 2002, DAMAC was born. The company was established on the heels of a governmental decision that allowed foreigners to own property within the emirate of Dubai.
DAMAC proved successful from the very beginning. Hussain Sajwani had the business savvy to lead the way as DAMAC owner, and this ability meant great success even with the company’s first project. That first project, which was a high-rise apartment building, attracted buyers–a lot of them.
All of its units were sold before the company had even started construction on the building, which was located on a piece of land that Hussain Sajwani had purchased in a then underdeveloped area. Read more: Hussain Ali Habib Sajwani | Bloomberg and Hussain Sajwani | Crunchbase
DAMAC has since established a reputation for being a leading Middle Eastern property development company. It’s one of the largest such companies in the region, and it has played a significant role in shaping the built landscape of not only Dubai but surrounding areas.
The company, with Hussain Sajwani as owner, has done quite well. It has built luxury apartments, two Trump-branded golf courses, numerous hotels, and various other projects. It has developed a large number of residential, commercial, and mixed use properties throughout the region. http://www.forbes.com/sites/kerryadolan/2016/03/01/the-donald-of-dubai-hussain-sajwani-interview/#1b049a722f15 and http://www.forbes.com/sites/kerryadolan/2016/03/01/the-donald-of-dubai-hussain-sajwani-interview/#1b049a722f15
All of this work has yielded positive results. In 2016, DAMAC had a revenue of $1.947 billion.
In addition to being a leader in property development, DAMAC has been involved in philanthropic causes. Among the good it has done is supporting the “One Million Arab Coders” initiative, which aims to empower people by helping with technical skills.