Hussain Sajwani’s Real Estate Legend Award
A gathering was held at the Ritz-Carlton, DIFC in which many Arabian business leaders were given awards for their innovative contributions to the Arabian peninsula’s real estate markets. But the man who received very high honors with the “Real Estate Legend” award was DAMAC owner Hussain.
Sajwani founded DAMAC Maison and DICO Investments alongside DAMAC Properties, and he also owns Al Anwar Ceramic Tiles and Al Ahlia Insurance Company in his portfolio.
The properties that have really brought Sajwani to the spotlight lately have been DAMAC Hills where the Trump Estates in the UAE have been established, and AYKON City, a high rise hotel establishment in downtown Dubai where you can see the DAMAC tower rising up.
The Hussain Sajwani family and its path to building one of the UAE’s strongest real estate empires began in the food business with catering venture, Dariah Management Services. Sajwani had worked hard to attend college at the University of Washington and then worked for the Abu Dhabi National Oil Company for several years before going into catering.
The company had several hotel clients, and as Sajwani served them hr realized there was a lot of profits to make by investing in commercial properties.
He started early real estate projects in Deira in the 1990s and even started his private equity firm around the same time, but he didn’t become DAMAC owner until 2002 when he really brought in cash flow.
The Hussain family built their first two luxury vacation properties at Marina Terrace and Park Towers in Dubai’s financial district.
The company survived some hard times in 2008 when they had to scale back their operations and cut expenses, but they emerged strong and then built their best project yet in DAMAC Tower which had the design teams of Versace do the interiors. Read more: Hussain Sajwani | Twitter and Hussain Ali Habib Sajwani | Bloomberg
Sajwani has also had Bugatti and the Roberto Cavalli Group design his AYKON City and DAMAC Hills properties, but perhaps nobody has been as strong a friend and partner as current US President Donald Trump and his company.
While Trump isn’t necessarily at the business table now as president, Sajwani has still conducted business with Donald Jr. and Eric Trump.