In Dubai when Hussain Sajwani was a schoolboy, his father had him working lots of extra hours after school in the family store. The entrepreneurial father had big plans for Hussain to someday take over the family business, but Hussain had other ideas. He swore that the would get a degree and become a professional so he could work regular hours.
Hussain did end up attending Washington University in the United States and earned a degree in engineering. After graduation, he returned to Dubai where he found work in the oil and gas industry there. However, he wound up being in business for himself after all when he started a catering company that very successfully supplied meals for the US Army during the Gulf Wars.
When the UAE decided to allow foreign nationals to immigrate, Sajwani forecasted that there would be an immediate real estate boom, and he was correct. The flood of well-to-do immigrants provided the perfect opportunity for his next venture. In 2002, he formed Damac Properties which would become the main focus of his business interests, although the catering company continued and is still doing well to this date. However, Damac has been the primary focus of Sajwani and the Hussain Sajwani family as far as business interests.
Hussain, as Damac owner wasted no time in launching his real estate business. His fame as a marketer started with the saying, “A Bently With Every Apartment.” He completely sold out all of the spaces before construction had even begun on his first project.
Sajwani credits his conservative business practices to his success in a very volatile market in the beginning. First of all he always pays cash up front for the land. That way there is no question who is the owner and no one can foreclose. He finances very little of the construction and the finishing of his projects. He keeps a separate account for each project so every on stands on its own.
Today Damac has completed 19,000 apartments and 44,000 are in various stages of completion. He has partnered with Donald Trump before the US Presidential election for several golf courses in some of his luxury apartments and resorts.
Visit http://www.hussainsajwani.com/ to learn more.