Hussain Sajwani is the founder of a real estate empire based in Dubai. He is an Emirati billionaire born to a father who was also an established entrepreneur. His childhood prepared him for his future in entrepreneurship as he learned his work ethic from his family. His determination helped him obtain a government scholarship that sent him to the University of Washington in America and graduated with a bachelor’s degree in Industrial Engineering and Economics.
Sajwani used his passion to be his own boss and founded his real estate developing company called DAMAC. DAMAC quickly rose to success and Hussain was unstoppable, and then 2008 hit and with it came a catastrophic property cash. As 20008 was nearly the end of DAMAC, the public was particularly interested to hear from its owner in his recent 2008 interview. Businessmen around the world wanted to know how he turned his struggling company back into a profitable Arabian real estate company.
Sajwani still doesn’t like talking about the near demise of his luxury real estate company, but tells the Arabian Business journalists that those six months were perhaps the hardest of his life. However he opens up about how he was able to keep the business afloat by knowing what their best assets were. They did not consolidate or sell their assets, and instead continued staying in the marina. DAMAC also had escrow funds at the time which, thankfully, helped the company survive. Thanks to Hussain Sajwani’s management and leadership learned from early childhood, Sajwani managed to navigate the company through its hard times and return it to its previous level of superior success.
DAMAC withstood the crash of 2008 and came back on top. The real estate company is back to developing luxury properties across the country of Dubai. DAMAC proved they were back to their full operational standard in 2013 when they were listed on the London Stock Exchange. Today they hold the title of being the first Middle Eastern company to do so and their IPO now stands at $379 million, making Sajwani the 4th richest Arab man on earth.