Hussain Sajwani The DAMAC Owner and The Tenth Richest Arab
Hussain Sajwani the owner of DAMAC, a Dubai-based property development company, recently spoke upon his life, legacy, and company. Starting off by going to help at his father’s shop to growing one of the largest Arab companies Hussain has a lot to share.
At a young age, Hussain would go to his father’s shop and act as an observer. Gaining crucial insight from his father from the work he did. Hussain Sajawani learned how to properly adapt to the market from his father’s work practices of knowing when and why to raise or lower prices.
After studying in Baghdad Hussain later moved over to Seattle to further pursue his studies in economics and engineering. Having been in a completely new environment Hussain saw just how different everything was at the time in comparison to Dubai. Later moving back to Dubai and having multiple business ventures Hussain Sajwani didn’t begin his property-based venture until 1996 when he opened up his first hotels in Deira, Dubai. By 2002 foreigners could now buy property, in and around the same time Hussain Sajwani started DAMAC.
As DAMAC grew the amount of streams of income the DAMAC owner, Hussain Sajwani saw increased too. From his investments in stocks to his catering company, money was coming to the DAMAC owner with no issues. Later in time around 2008 financial issues became a real problem for the company as a whole. With projects stopping all progression, cuts to the workforce having to be made, and much more. Once 2013 came along though things turned back around for DAMAC.
As the return of DAMAC came it was seen with a boom in the market. Being the first Middle Eastern real estate company on the London Stock Exchange it created great conversation. The stock itself generated over $300 million which allowed for Hussain Sajwani to grow again and show that he truly knows how to adapt to any market.
Adaptation to the market is what makes Hussain and DAMAC so successful even through the hard times. The little things learned as a child allowed for grand growth in the future.