Hussain Sajwani Business to Improve with the Election of President Trump

Hussain Sajwani is a United Arab Emirate-based entrepreneur. He was born in 1956 and is the executive chairman of DAMAC Group. He attended the University of Washington and graduated with a degree in economics. After completing his university studies, he got a job as a contracts manager with GASCO, a subsidiary company of Abu Dhabi National Oil Company. A few years later, he founded DAMAC LLC that eventually, became the DAMAC group of companies. A decade later, Hussain Sajwani established DICO, an investment company. Today, the company holds some investment portfolios in different businesses. The entrepreneur is also the founder of Co SAOG, a company with a capitalization of over 125 million dollars. The success of this enterprise was achieved after Hussain Sajwani invested in the insurance sector by buying 40 percent stake in Al Ahlia Insurance Company.

 

Hussain Sajwani has invested in Al Anwar Ceramic Tile Company. It is the first and the only manufacturer of tiles in Dubai. He has been instrumental in the prosperity of the enterprise. At the company, he is the Chairman of the board. Additionally, he holds shares in Taiba Kuwait Holding Company and Al Ahlia Insurance Company. Today, DAMAC industries are valued at a net worth of 4 billion dollars with 85 percent shares belonging to him.

 

In the recent events where Donald Trump has become the 45th president of the United States, Entrepreneur Hussain Sajwani has expressed the desire to enhance his relationship and work with Trumps administration. The agenda of increasing the relation is to ensure that they can combine efforts and put up more real estates. The two spent the New Year’s Eve together and have already partnered in bringing up luxury villas in the States. The sales from these villas racked up over 2 billion dollars. He said that the relations with the President extend beyond the professional boundaries. He added that his wife and the first lady, Ivanka are friends. Additionally, his children have a very close relationship with the president’s children.

 

Besides being a businessman, he is known for his philanthropic deeds. Recently, he donated two million AED through DAMAC industries in a campaign that sought to clothe a million deprived children. The amount was enough to cloth more than 50,000 children across the globe.

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https://www.damacproperties.com/en/investor-relations/corporate-governance/meet-our-board

 

From Humble Beginnings to Prestige: A Short History of DAMAC

 

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.

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