As a young schoolboy in Dubai, Hussain Sajwani worked long hours after school in his father’s variety store. The store was the family business and it handled Chinese imports, office supplies, personal items, and consumer goods. After a time, Hussain became very frustrated by all of the working hours his father had made him work. He told his father that he would never be self-employed because of the hours. His goal was to become a degreed professional so his hours would be “normal.” Learn more about Damac Owner: http://www.nbcnews.com/news/world/dubai-billionaire-hussein-sajwani-ready-do-more-deals-trumps-n695566
Hussain did receive a degree in economics and engineering from the University of Washington, as he had been fortunate enough to receive a scholarship there. He then returned to Dubai where he found work in the gas industry as an engineer. Read more: Hussain Sajwani | Instagram and Hussain Sajwani | Forbes
Hussain’s time as an employee was to end, however, as contrary to his boyhood oath, entrepreneurship was to be his lifelong quest. He saw an opportunity and formed a catering company that served food to the US Army in during the Gulf Wars in the nineties. This turned into a great success and taught Sajwani much in regard to owning and managing a large company.
When the UAE announced that the restrictions regarding the immigration of foreign nationals into the UAE was going to be relaxed, Sajwani saw another opportunity. In 2002 he formed DAMAC Properties, a real estate development and management company. Sajwani had correctly predicted that the new stance by the government would produce a boom in the real estate needs of people coming into the country.
Sajwani was a good marketer and promoter and he wasted no time in getting started. It was not long before the entire region knew of DAMAC and its offerings. DAMAC, the company that would be the source of the Hussain Sajwani family fortune, was being promoted everywhere. The people found the Italian Versace and Bugatti styled apartments and villas to be much to their liking and the company flourished.
The DAMAC owner took great pride in his employees and the ability of his team to break all records as far as the production of such real estate projects. As of this date, DAMAC has sole 19,000 apartments and over 44,000 more that are in various stages of development.