Hussain Sajwani, DAMAC owner, has not forgotten the roots of his company. Many people often associate DAMAC Properties with luxury property developments such as the Trump International Golf Course in Dubai. Sajwani’s objective of transforming the economy of the Middle East through developing high-end properties is coming to fruition.
Hussain Sajwani started running the company in the early 1990s. DAMAC’s breakthrough came during the first Iraq war in 1991. During the military action, DAMAC Properties was charged with the responsibility of providing food service to the United States Army. In addition, the company provided the army with similar services in Bosnia and Somalia. It also worked with mega companies such as Bechtel in the provision of different services.
As the company grew, Hussain Sajwani believed that it was time for the company to diversify its offing and engage in other activities. To this end, Sajwani ventured into the lucrative real estate business and started developing luxury properties.
Most of these properties have been developed in partnership with companies from the West such as the Trump Organization. The recovery of the worldwide real estate industry has seen the company earn millions of dollars from its investments in various countries. It is rumored that DAMAC Properties will make billions from the sale of luxury apartments located in the Trump International Golf Course in Dubai.
DAMAC Group is gearing towards going public by undertaking an Initial Public Offering (IPO). Hussain Sajwani is confident that they will be able to raise large capital, which will enable the company to invest in different projects around the globe.
Although the IPO’s exact details are still scanty, it is believed that their shares will trade in the London Stock Exchange. Hussain Sajwani notes that the company will hold a press conference to divulge further information after the banks involved in underwriting have finalized their activities. He is confident of the IPO’s success. Learn more about Hussain Sajwani Family: http://www.emirates247.com/news/richest-arabs-youngest-billionaire-wealthiest-family-2016-04-17-1.627434
DAMAC Properties was established in 2002 as a private residential, leisure, and commercial developer in Dubai. The company has now expanded its operations to various counties, including Saudi Arabia, Lebanon, Qatar, Jordan, and North Africa.
Hussain Sajwani’s visionary leadership has enabled the company to undertake various projects and complete them within set timelines. Moreover, its staff and robust business partners have played an integral role in enhancing its market success. Notably, Hussain Sajwani family have been friends with the Trumps.
The two families have been working together on different projects. President Trump invited Hussain’s family to the New Year’s Eve celebration where he recognized their presence.