DAMAC owner Hussain Sajwani built his reputation and his company on the explosive growth that has been exhibited in the city of Dubai. He is the founder of the company, and he serves as the Chairman of the Board of Directors. DAMAC is a large real estate development company, and it was started at a time well before Dubai was even a glimpse of what it is today. Dubai was mostly undeveloped land when Hussain broke ground for the first time, however he foresaw what was about to occur there and his timing could not have been better.
Over the years, Hussain developed tens of thousands of luxury residential properties and hotels. Dubai grew in popularity and in investor interest, and as a result DAMAC Properties flourished. The firm became a publicly traded company, and the transition was yet another financial success for Hussain. In a recent interview, DAMAC owner Hussain Swajani spoke about the current economic climate in Dubai. The luxury residential real estate market has leveled off to a certain extent, compared to the market at its height in Dubai. Hussain continues to develop properties in Dubai, and has even ventured into developments of high end residential units in a golf course setting.
DAMAC and Husssin Sajwani have since entered into a joint venture with the Trump
Organization, a global real estate company located in New York City. The company is owned by Donald J Trump, the current President of the United States and a prominent real estate businessman as well. Their first golf course venture in Dubai is currently selling at a steady rate of sales, and more are underway. As a result of the positive reception received by the first project, the DAMAC stock price has been driven up, and investor interest has been positive.
The DAMAC Properties owner founded the company in 2002. Its parent company, DAMAC Group, was founded in 1992. The company headquarters are located in Dubai, and Hussain Sajwani employs more than 2,000 people worldwide.
Further reading: https://al-ain.com/article/damac-chief-sell-15-stake