Hussain Sajwani had a humble beginning in a middle-class background before he climbed his way up to become the third richest person in the United Arab Emirates and owner of Damac Properties. His net worth today stands tall at over $3.4 billion and continues to rise each year exponentially.
He is the oldest son of his parents and was born in 1956. Hussain Sajwani always dreamt of being rich and starting his own business, starting from the time when he worked his father in their family watch shop.
He went to the United States to pursue higher education, where he joined the prestigious University of Washington to study Industrial Engineering and Economics. After completing his studies, Hussain joined GASCO, a unit of Abu Dhabi National Oil Company, as a contracts manager.
However, in pursuit of becoming an entrepreneur, he started his catering service company named Al Jazeira Services, which became highly popular in its sector and manages over 200 projects today and serves over 150,000 meals daily. Learn more about Hussain Sajwani: http://www.thenational.ae/business/industry-insights/property/damac-chairman-relishes-his-roots
Hussain Sajwani after coming back from the United States did a comprehensive market research and found immense potential in the real estate scene in Dubai and the UAE. It is for this reason he bought a plot of land in the suburbs of Dubai and created a luxury residential project of 35 stories that he sold out in six months, even before the construction of the project began.
It marked the beginning of Damac Properties, which today is a global real estate development firm, and has projects underway in the United States, London, Europe, Asia, Jeddah, Beirut, Oman, Abu Dhabi, Dubai, South Africa, and many other developing regions.
Damac Properties is one of the biggest real estate firms in the UAE and has a workforce of 2,000 employees. Hussain has helped Damac Properties become one of the largest companies in its sector through his keen understanding and foresight in the field of sales, real estate market, finance, and administration, marketing, sales and more.
He is known to develop some of the finest properties in the country, and one of the recent projects of Damac Properties has a golf course designed by Tiger Woods himself.