CNBC covered the developments in Davos a couple months ago where the World Economic Forum was being held, and one man they ran into was Hussain Sajwani, the Executive Chairman of DAMAC Properties and its subsidiaries. They asked Sajwani if his ties to President Trump were going to cause any backlash against some of his vacation properties due to Trump’s recognition of Jerusalem as Israel’s capital, and he said that he believes despite the president’s hard line that his vacation properties have actually seen an increase of popularity. They also asked him if DAMAC had any new continents they had their sights set on. Sajwani said that they are currently exploring building major properties in the UK and possibly moving into North America, and he also said he’s considering selling up to 15% in ownership stakes in DAMAC.
Hussain Sajwani has been renowned as a property developer in the Arabian peninsula not only because of the quality and glamor of the buildings he’s had constructed, but also because he’s been known for some of the most sound financial management. In fact, DAMAC Properties has just about never been in debt, and his top management skills have even earned him recognition as one of the Middle East’s top CEOs in various business organizations. Some of the top properties he’s invested in include the Trump World Resort which he and the family of the current US President have partnered in, but he’s also investing in a project worth hundreds of millions known as AYKON City which is going be like a city within the main city of Dubai and will have high-rise hotels like none ever seen before. But Sajwani still points to his beginnings as being why he is where he is today.
Hussain Sajwani got his business degree at the University of Washington and actually started out in both the oil and the catering industry before going into real estate and hospitality. The catering business pulled in millions in revenue and he even was honored by the US Army for supplying food to troops stationed during Operation Desert Storm. It was in the 1990s that he started considering going into hotel and vacation property investments, and though he actually started the DAMAC holdings company back in the 1990s and bought the stakes in Anwar Tile that same year, he officially founded DAMAC Properties in 2002. In addition to the billions of dollars in property holdings he’s built since then, Sajwani is also a philanthropist who has helped the UAE’s Red Crescent program in helping refugees escaping from the Huda.