The DAMAC Owner and Chairman Hussain Sajwani
Property CEO of the Year in 2017, Hussain Sajwani is Founder and Chairman of DAMAC Properties, ranked number one by Forbes on their 2017 Global 2000 list. He is a man that means business from a humble start in the United Arab Emirates to one of the top 10 wealthiest global Arab Billionaires. Sajwani is the DAMAC owner and a juggernaut in luxury property development.
DAMAC has properties in cities like Dubai, Abu Dhabi, Doha, Amman, Beirut, Jeddah, Riyadh, and London. One of their most notable, the Paramount Hotels & Resorts which was designed to be unique and offer the most indulgent experiences of his properties. As the DAMAC owner, Hussain Sajwnai got his start in finance within the UAE oil industry after attending the University of Washington on a full government scholarship. After two years, he was already on his way to success with the start of a catering business, which today is considered a world leader in its industry.
As of late, DAMAC has expanded its operations with the addition of a pair of Tiger Woods-designed golf courses managed by the Trump Organization. The DAMAC owner sees this as an excellent opportunity for growth despite concerns regarding decisions recently in the press where President Trump recognized Jerusalem as the capital of Isreal. Sajwani stated that they were pleased with the design and quality of the courses so much so that they could be the best in the world.
Wih the success they’ve seen in recent years, Hussain Sajwani may sell a stake in the company to allow for more liquidity. Though he did not provide exact figures, he did clarify that it would depend on several factors such as price, timing, and market conditions. With the company experience strong cash flow he believes it is being underutilized and expressed interest in expanding further into the United Kingdom. This eye for growth is in part due to Brexit where the pound is far more favorable, and the property market is softening to a point where it is an ideal local for expanding their portfolio. Sajwani also added that North America is something they are also looking into.