When Hussain Sajwani was a young boy, still in school, he worked for his entrepreneur father in his Dubai variety store after school. Hussain worked long hours and he told his father that he would be much better off becoming a professional person with a college degree, rather than being in business because he would have better hours.
Hussain did get his degree, but he only worked for a short time for someone else. He saw an opportunity when he formed his own catering company and served food to the United States Army during the two Gulf Wars in Kuwait and Iraq. The business venture was very successful and is still doing well to this day.
In the year 2002, Sajwani formed DAMAC Properties, a real estate development company. He had learned that the UAE was relaxing all immigration restrictions for foreign nationals so that they could become residents of the country. Sajwani surmised correctly that a real estate boom was about to happen and he wanted to be ready for it when it occurred.
Hussain got off to a fast start as he was a master promoter and marketer. He got the word out about his luxury condos and apartments and his first project sold completely out before the construction was even begun. With his advertising covering all areas, he liked to use catchy slogans like, “A Bently For Every Apartment.” This certainly got the attention of many, and he really did give a Bently for each sale of an apartment.
Sajwani’s apartments were known for their high quality and luxurious accommodations. He even did a joint-venture with Donald Trump prior to the United States Presidential elections to have Trump golf courses built on some of his properties and resorts.
The DAMAC owner uses very conservative business strategies too, for his business operations. First of all, he always pays cash for the land he purchases. This assures that no one can foreclose on him. Then there is very little, if any, financing on the rest of the construction and finishing out of the project. There are also separate bank accounts and accounting for each project. If one project fails, then the rest of the business is not affected.
DAMAC is just what the Hussain Sajwani family needed to create and pass on this fabulous legacy of business success.
To learn more, visit http://www.hussainsajwani.com/.