Hussain Sajwani is a Dubai businessman who founded and is the owner of DAMAC Properties, Inc., a real estate management and development company. The company came about when the United Arab Emirates made the decision to allow foreigners to purchase real estate in the country and for them to be able to take up residence there.
Sajwani saw a real opportunity because he suspected that this would create a real estate boom and he wanted to be in a position to take full advantage of the situation. As things turned out the venture has been an outstanding success and Hussain Sajwani is known throughout the Middle East as a savvy businessman and entrepreneur.
When Sajwani was a boy he worked for his father after school in the family variety store. The hours were long and the work was less than pleasant. However, he learned how to work hard and work with people, two traits that were to hold him in good stead later. He told his father that he would rather be a professional man than a businessman, so he would be able to work regular hours. He would turn out to become a businessman in spite of that statement.
While still in school, young Hussain found a great price for a large volume of candy that he and his schoolmates liked a lot. He bought the candy and sold it to fellow students which earned him a nice profit. That venture probably did a lot to sway his leanings toward being in business. More info about this can be read on his website.
Sajwani uses conservative business principles which have helped his businesses along the way. He always pays cash for land, keeps separate accounts for each project in the accounting and banking areas. He also has a cash reserve in government bonds for each property. These practices helped DAMAC to weather the storm when an economic downturn occurred several years after the company was started.
Hussain Sajwani owns properties all throughout the Middle East as well as in London and Paris. He is always looking for opportunities for his luxury apartments and resorts so he constantly has his eye on areas where the business can be expanded. He has also placed family members in key management positions throughout the company, which helps to ensure the future of the company.
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