Hussain Sajwani got his start in the food service business, but it is in real estate that he really made his fortune. He is the founder and chairman of DAMAC Properties, which is a UAE-based real estate development company
Sajwani has done well in real estate development–extremely well. With a net worth of $4.3 billion, he landed on Forbes’ 2017 list of the World’s Richest Arabs. This wealth was born out of making some very smart choices early on with DAMAC Properties.
In 2002, when Sajwani founded the real estate development company, he benefited from a government decree that allowed non-emirate citizens to own property in the UAE. He envisioned non-Emiratis as the primary buyers of apartments that he had planned, and he was very successful in this endeavor. He sold out all of the units of his 38-story residential building before construction even began.
Hussain Sajwani has sometimes been compared to another famous real estate developer: President Donald Trump. In fact, the two have been friends and had business dealing over the span of several years. This relationship got its start when Sajwani’s company teamed up with Trump to execute two golf course.
Trump has been generous with his praise for Sajwani. Shortly after taking office, the president described him as “a very, very, very amazing man.” Sajwani has likewise expressed very positive sentiments regarding Trump, and he has said that he would like to do future business deals with the Trump family.
Sajwani is not only a very successful businessman. He is also a philanthropist who is dedicated to giving back to the Arab world. His goal is an empowered, happier society. Among the contributions that DAMAC Properties has made during the past few years was AED $2 million to clothe and provide warmth to 50,000 in 2013 and, in 2015, AED $1 million to the UAE Red Crescent to support refugees in Jordan and Lebanon.
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