Hussain Sajwani, the DAMAC owner, is one of the most successful entrepreneurs. He attributes the success to his childhood. As a young boy, Hussain Sajwani accompanied his father to the family shop that was located in Deira. It is here that he learned some of the most valuable business lessons. In one instance, Hussain remembers his father selling a commodity to a client then raising the price immediately. When Hussain enquired, his father told him that the particular customer rarely made purchases from him, and the fact that he did without bargaining is an indicator that there is a shortage in the market. This is to indicate that Hussain’s father had a clear understanding of his clients and can readily change the direction as far as his imported goods were concerned. Hussain took up this lesson and made it his basis of success. He says that he can quickly adapt to the market.
Hussain Sajwani says that these lessons have remained his pillar. Forbes most recently ranked Hussain Sajwani as the world 10th wealthiest Arabs. His net worth is estimated to be$3.7 billion. Hussain Sajwani became a household name when he ventured into real estate development. He established one of the largest known real estate companies in the UAE known as DAMAC Properties. The company was ranked the fourth largest public companies in the UAE. The DAMAC owner strives to see that he stands out amongst his competitors. Among the projects that DAMAC Properties is partaking include a community project known as Akoya Oxygen that is worth $6.5 billion.
It is fascinating to note that Hussain’s DAMAC Properties was the first real estate company hailing from the Middle East to be on the list of the London Stock Exchange. At least $379 million was raised from an IPO. The money was reinvested while some of it was used to finish some pending projects. Going public became a success to DAMAC. Looking into the future, the DAMAC owner hopes to have DAMAC towers in the major cities across the world. DAMAC Properties was first established in the year 2002. Among the projects that the company has developed include Marina Terrace and Akoya Oxygen.
The DAMAC owner maintains a healthy business relationship with the president of the United States, Donald Trump. The partnership saw Damac properties being entrusted with the construction of the Trump Golf that is based in Dubai. The relationship has made the DAMAC owner be baptized the Donald of Dubai.