The Global Leader: Hussain Sajwani

If you listen to successful people’s stories, you realize that they all started somewhere. Hussain Sajwani is a good example of having a strategy towards long-term goals. His entrepreneurial spirit is from his father who was a businessman who traded in watches, and at times he would import items from China. Hussain Sajwani grew up watching his father which could have been a contributing factor to his success today.

The first encounter he had after quitting his job was opening up a company in the food industry. It dealt with providing catering services. It’s during this time that he created a network of influential people who were high profile. He got involved with big American firms globally.

In 2002, Hussain Sajwani discovered a chance to venture into real estate as the demand was higher than the supply. That is when DAMAC Properties was formed. He is now the Chairman. Hussain Sajwani realized the actual revenue that could come from developing property which was a big motivator.

DAMAC Properties has its headquarters in Dubai. It deals with property development both commercial and private. The firm has worked to make a name for itself and is considered among the most significant real estate companies.

Most Importantly, DAMAC has a business model whose focus is on three principles. One, the firm ensures that they purchase land with cash, no debt. Two, DAMAC retains cash reserves in government bonds and fixed deposits just in case the market does not favor them. Lastly, their escrow accounts are different. As such, every project facilitates itself with its specified capital.

The DAMAC owner has helped reshape Dubai. His net worth has earned him a slot in the Top 1O billionaires Forbes list as one of the wealthiest Arabs in 2017 globally. The Sajwani family has had close ties with Donald Trump as they have had business deals together. They have partnered to work on two golf courses in Dubai. One is already complete while the other is underway.

Hussain Sajwani understands that not everybody is equal. Therefore, he has been making cash donations to initiatives geared towards helping the needy people. He believes that cultivating in them is a way of securing a brighter future.

 

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