Hussain Sajwani is a prominent real estate developer and investor in the Middle East. He is the founder and CEO of DAMAC Properties, the biggest real estate development company in the Middle East. This company is also one of the biggest in the world. So, when one has built such a great empire, it is everyone’s wish to know how he managed to create such an empire. Some might think that Hussain Sajwani managed to build this empire because he was born from an elite family. However, this is not the case since he was born from a humble family and his father was running a pens and watches business.
Hussain Sajwani invested in the real estate with the capital he amassed from a catering business that he had started earlier. He started by purchasing undeveloped land in his neighborhood which he would later use to develop residential and commercial properties. Although it did not seem attractive at the time of purchase, the state of affairs would change as the government declared that it would be allowed foreigners to own a property in Dubai. With this decree, Hussain Sajwani was able to spot a great opportunity before others. His ability to see beyond what others couldn’t at the time contributed to his excellence. CEO of DAMAC Properties combined the skills he had learned at the school of economics will his innate entrepreneurial skills and came up with a plan that would see him create an indomitable real estate company.
The undeveloped neighborhoods he had bought would in a few years later attract the attention of expatriates from the United Kingdom, and India. With the change of tune on matters of real estate in Dubai, DAMAC Properties became one of the pioneering property development companies in Dubai. DAMAC Properties was set up on the idea of using the funds received from down payments to start other construction projects. This strategy ensures that the company works in a continuous process of bringing up new properties. At the same time when The CEO of DAMAC Properties was setting up his real estate company, the Dubai property market was headed for a boom. His first project saw all the units bought in less than 40 days.