Hussain Sajwani is a real estate developer and billionaire. He is the brains behind Damac Properties, a real estate company headquartered in Dubai. Sajwani attended the University of Washington and graduated with a Bachelor of Arts degree. He began working with a food service company that served the U.S. Military before switching to real estate. Sajwani also collaborated with established luxury brands such as Fendi and Versace in designing apartments. In the eve of 2016, he was a guest at Donald Trump’s home. He once collaborated with Trump in the development of golf courses.
Hussain Sajwani founded Damac Properties after the Dubai government allowed foreigners to invest in the emirate. Sajwani became a billionaire after developing and selling a 38-story residential structure. He currently serves as the CEO and chairperson of Damac Properties. The real estate company has satellite offices in Europe, North Africa, and The Middle East. In 2013, the company announced its mission of raising about $500 million. The money was to be raised from the sale of depository receipts on Europe’s London Stock Exchange. One year after the announcement, Damac was worth $4 billion. As a major shareholder (85 percent) of the company, Sajwani is worth $3.5 billion.
Sajwani worked as a contracts manager for GASCO. He founded DICO Invest as an investment company that serves publicly traded companies in the world. He is the creator of the Al Jazeira Services CO SAOG that is worth $125 million based on the Muscat Securities Market records. As an investor in the insurance industry, Hussain Sajwani bought 40 percent of Al Ahlia Insurance Company.
Hussain Sajwani also invested in Al Anwar Ceramic Tiles Co SAOG. The company is renowned as the first tile manufacturer in UAE. Sajwani was instrumental in building the company to its present size. As an executive member, he chairs Al Jazeira Services Co SAOG, Draieh Management Services Co LLC, and Al Anwar Ceramics Co SAOG. He also sits on the executive boards of JUNO Online, Emirates Takaful Company, and Majan University College.