Hussain Sajwani is one of the biggest real estate developers in the world, and specifically the biggest in the Middle East. His company, DAMAC Properties, is the biggest developer of residential, commercial, and leisure properties in the UAE and the Middle East as a whole. This has put the real estate mogul at par with some of the world’s richest and most powerful men, including U.S.A.’s current president Donald J. Trump.
In spite of his seemingly innumerable wealth, Hussain Sajwani comes from a humble beginning and has an even brighter future to look forward to. Here is a preview of the billionaire developer’s life.
A Humble Beginning
Hussain Sajwani was in the food service business before he established DAMAC Properties. Back then, his food service company used to secure contracts with clients such as the U.S. military bases in the Middle East as well as construction companies.
He later identified the numerous opportunities in the real estate industry in 2002. However, he still maintains ownership of his food service company to date.
Venturing into Real Estate
Hussain Sajwani got his break in 2002 when he realized the numerous potentials in the real estate industry. He took advantage of the UAE’s decree allowing foreigners to own land and bought cheap swathes of land in undeveloped regions of the country. Since then, he has been constructing buildings and selling them for a profit.
To his advantage, the fast appreciation of land prices in the UAE and many other countries in the Middle East has guaranteed rocket-high prices for his properties.
Ties to President Donald J. Trump
Today, the billionaire’s company, DAMAC Properties, works in collaboration with global real estate developers including the Trump Organization. His ties to President Donald J. Trump have particularly caught the attention of the market and the world as a whole.
As one of his major partners, Hussain Sajwani has promised to continue working with the Trumps through the president’s two sons. This, however, is expected to arouse a lot of controversy with many people arguing that this would lead to a conflict of interest for the U.S. President. In the meantime, however, DAMAC Properties is contributing the charities around the world in its endeavor to alleviate poverty as President Donald J. Trump promises to revolutionize the U.S.