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The Emirati Real Estate Billionaire, Hussain Sajwani

Before Hussain Sajwani, the DAMAC owner became a real estate giant, he learned and worked with different individuals and organizations. Here is a brief history of Hussain Sajwani before DAMAC.

He was born in the 1950s to an Arab entrepreneur. In free time he helped sell watches at his father’s shop, an experience the DAMAC owner credits for his entrepreneurial success. A few years later, Hussain Sajwani won a UAE scholarship to study in the United States. He joined the University of Chicago where’s he pursued bachelor’s degree in economics and industrial engineering. During his study in the US, Sajwani sold timeshare apartments to make some pocket money. The DAMAC owner valued his education and believes it opened his mind to limitless information. After graduating, Hussain Sajwani realized he had to make money for himself and therefore, he needed to get experience before taking any major risks. Working for others is something that Mr. Sajwani has never regretted. He values education and experience equally. He worked for two years in the finance department, where he was involved in processing payments for contracts with the company.

The History of DAMAC.

Hussain Sajwani, in ’82, opened his first business, a catering company. Starting his own business was the biggest risk that ever took but the beginning of an empire. The company rapidly grew and was serving about a hundred and fifty plates in a day. With about two hundred projects, the business quickly expanded its market base. The business is still operating in the Middle East and has branches in Africa.

Being a risk taker, Hussain Sajwani, decided to venture into the real estate business, starting with small projects like small hotels. The hotels would later lead him t OK developing flowers in the high-end areas of Dubai. These real estate projects are now what we know as DAMAC group. Started in the 2000s, after the UAE opened a real estate development market, DAMAC has grown and spread with projects all over Asia and Europe. It has been over a decade since the DAMAC group came to being and is still going strong. It has been involved in a major project and other real estate developers like the TRUMP group.

Helpful link: http://www.alkhaleej.ae/economics/page/fe8c106f-a20f-4223-9ff9-0cf88df61a45

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