Hussain Sajwani, the chairman, and CEO of the DAMAC group graduated from the University of Washington and started his career as a contracts manager of GASCO in Abu Dhabi. He later began his exploration of business through the provision of catering services to America’s army in 1991.
The food business still forms part of the operations of DAMAC Group, to act as a reminder of his roots and also enlighten, his ability to nurture his old business partners on the highest level of international activities.
In 2002, Hussain Sajwani shifted into the property business as he saw his catering business not convincing enough. The food industry racked in millions as compared to billions generated by the property business.
DAMAC Group, which would be his new venture, had several challenges but later came to be highly stable, with no debts on its land, had independent accounts which supported themselves and retained cash reserves in fixed deposits. The DAMAC Group was formed in Abu Dhabi to involve Engineering, Architecture and Real Estate projects.
Apart from the DAMAC Group, Hussain Sajwani is also experienced in global equity and capital markets. Dico Investments, his flagship investment deals with private equities and mergers.
He also possesses holdings in publicly related companies and is a major shareholder in the global market. DAMAC Group has joined forces with some of the biggest lifestyle brands, among them, The Tiger Woods Golf course and Paramount Hotels and Resorts.
DAMAC Group goes further in its relations to work with the highest rated companies globally and to be precise, it has close working relationships with the Trump’s organization, Donald Trump’s real estate firm. The two real estate firm giants came together during the Trump International Golf club where luxury villas made almost two billion dollars in sales.
Now that Donald Trump has been accorded the powers to head the United States of America, Hussain Sajwani is more than elated that the results will be a booster to DAMAC Group.
Having enormously succeeded, Hussain Sajwani has been open to reinforce deprived groups. It has been involved in provision of clothing to more than 50,000 children in collaboration with the Emirates Red Crescent. In 2011, it launched its hospitality division that provides hotel apartments to its residents. Currently, the firm employs over 2000 employees.
Learn more about DAMAC owner: http://www.thenational.ae/business/industry-insights/property/damac-chairman-relishes-his-roots