As a schoolboy in Dubai, Hussain Sajwani learned the important lesson of hard work as he worked for his father in the family business.
He worked long hours in the variety store his father had founded, selling Chinese imports, office supplies, and consumer goods. He complained to his father that he would probably never be a self-employed businessman because of the long hours. He thought it would be much better to be a professional and work normal hours. Learn more about Hussain Sajwani Family: http://www.nbcnews.com/news/world/dubai-billionaire-hussein-sajwani-ready-do-more-deals-trumps-n695566
Hussain went on to college where he earned degrees in engineering and economics at The University of Washington in the United States. After that, he returned to Dubai where he landed a job with a gas company.
That position didn’t last longer than a couple of years because he saw an opportunity and took advantage of it. He founded a catering company that sold food to the US Army during the Gulf War.
The catering company was a great success and taught Sajwani how to manage a large company effectively. The company is still in operation today.
In 2002 DAMAC Properties was formed by Sajwani to accommodate the need for a growing population in the UAE. The government had eliminated restrictions on immigration for foreign nationals and Sajwani correctly predicted that there would be a real estate boom in the land.
One of Sajwani’s many talents included marketing and promotion. One of his favorite slogans was, “A New Bently for Each Apartment.” Obviously, slogans such as this got the attention of potential customers in a hurry.
He did not let any time go to waste either as his first building project was completely sold out even before construction had begun. Since the inception of DAMAC, there have been 19,000 apartments sold with an additional 44,000 structures in various stages of production.
People like the luxurious apartments and villas that DAMAC builds with the plush Italian interiors and appointments. Sajwani had a joint-venture with Donald Trump prior to the US elections where several Trump golf courses were constructed at DAMAC properties.
Sajwani practices very conservative business practices by paying cash up front for all land purchases. He also keeps separate bank accounts and accounting for each property to keep from mixing up of the of money from project to project.