Founded by Hussain Sajwani in 2002, DAMAC Properties has come to be a name associated with glitz and glamor in the Middle East. It’s a name that brings to mind visions of luxurious living; a company that once even offered a free Bentley with every apartment. As the founder of the company will tell you however, it wasn’t always so.
Hussain Sajwani recalls the work his previous firm did in 1991 during Desert Storm, commemorated by a plaque that hangs on the wall reading: “In recognition of outstanding food service performed to the United States army during operation Desert Storm”.
In 2002 Sajwani realized that real estate was going to see a massive upward trend over the next few years, and so he founded DAMAC Properties and changed his focus. Not bothering with a mid-market debut for his new firm, DAMAC decided to begin by developing top of the line properties, thanks to the introduction of freehold ownership rights for expatriates in Dubai.
2016 saw a partnership between President Elect Donald Trump and Hussain Sajwani’s property firm come to fruition in the building of Trump International Golf Club Dubai, situated in the heart of the 42 million square foot ‘AKOYA by DAMAC’ master development. But Trump isn’t the only prestigious partnership DAMAC has seen in its 14 year history. They also partnered with the likes of Versace, Paramount, Fendi, and Bugatti.
In its inaugural year alone DAMAC purchased, developed, and launched two separate properties: Marina Terrace and The Waves. Both sold out all of their units in Dubai Marina. Within four years of launch, DAMAC attained twenty projects across the Middle East.
Hussain Sajwani studied at the University of Washington where he earned his undergraduate degree in Economics. In 1982 he established his own company: Draieh Management Services Co. Additionally, Mr Hussain Sajwani has invested in a number of other businesses with an aim toward strengthening them, as well as their local economy. Once such venture was the Oman-based Al Anware Ceramic Tiles Company. Established in 1998, it is the first and only manufacturer of tile in that nation.
In addition to his many business interests and ventures, including being founder, CEO, and Chairman of DAMAC, he is a member of the board of Majan University College in Muscat, Oman.