Hussain Sajwani is a successful businessman residing in Dubai in the Middle East. He is the owner of DAMAC Properties, a very prosperous real estate development company in the region. As a boy he worked for his father in the family business for many hours after school. Young Hussain swore that he would never be a self-employed entrepreneur because of the long hours involved. He claimed that he would be a degreed professional so he would be able to work normal hours.
After receiving a degree in engineering from the University of Washington in America, Sajwani returned to Dubai and got a job with an oil company as an engineer. While this seemed to be what he wanted, it obviously was not as he started a catering company that wound up serving food to the US Army very successfully during the Gulf Wars.
In 2002 he formed DAMAC properties, a real estate investment firm that would be the path for the Hussain Sajwani family for earning a fortune. The UAE had just made the decision to allow foreigners to legally and permanently immigrate to the country and Sajwani sensed that a real estate boom was about to take place.
One of Sajwani’s very strong points is his marketing ability. He put the word out by initiating a huge advertising budget with signs all over the countryside. One of his favorite slogans was, “A New Bently With Every Apartment.” His first project was sold out completely before construction could even get started.
The DAMAC owner also uses conservative business practices in order to maintain control and integrity over his business operations. He always purchases the land for his projects by paying cash full in advance. This leaves no question as to title and ownership. He finances very little of the construction and finishing, if any at all. Each project has a separate accounting and bank account so if it fails, it won’t affect any other part of the business.
DACAC currently to date has finished over 19,000 apartments with another 44,000 in differing stages of development. Sajwani is noted for the fine luxury and strong construction of his developments as people love the designs and interiors.
To learn more, visit http://www.damac.com/.