Hussain Sajwani is the founder and chairman of DAMAC Properties, a company which engages in developing commercial and residential properties in Dubai as well as in the Middle East. His company has been listed on the DFM – Dubai Financial Market, and is the first Middle East real estate company to be listed on the London Stock Exchange, DAMAC raising $379 million on their IPO. Hussain Sajwani has been listed by Forbes in 2018 as the 4th richest Arab in the world, having a net worth of $4.1 billion.
Prior to establishing DAMAC Properties, Hussain Sajwani worked for Abu Dhabi Gas Industries for two years as part of their finance department. Later on, he started what is today called Global Logistics Services, a catering business. In 2002 he founded DAMAC Properties, which developed approximately 19,000 apartments throughout its existence. The company also developed a golf course which was managed by The Trump Organization, Sajwani continuing to be close friends with President Donald Trump to this day, having collaborated in the past on the Trump International Golf Club.
DAMAC Properties was established by Hussain Sajwani just as Dubai was at the stage of a lift-off of what would be a 6 years real estate boom. He declares however that he saw the crash of July 2008 coming. The DAMAC Owner notes that sales dropped dramatically and he knew it was worse than just a summer lull. The company took fast action in order to preserve cash and to cut costs, and by May the following year they were out of the woods and had enough cash to protect themselves.
In order to support his philanthropic activities, the Hussain Sajwani – DAMAC Foundation was created, through which Mr. Sajwani supports a number of organizations, including the One Million Arab Coders program. The foundation supported organizations such as Dubai Cares, Dubai Autism Center, Emirates Red Crescent, and Dar Al Ber Society. They donated AED 1 million in order to support the building of a new care facility for children that have autism, and AED 100,000 in order to sponsor the Ramadan ceremony of Dar Al Ber Society for unprivileged children.
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