DAMAC owner and founder, Hussain Sajwani was named the wealthiest billionaire in the UAE. Previously in the catering industry, the DAMAC owner has been able to increase his wealth and business in a short amount of time.
The successful property investor tributes most of his success to his property investment knowledge of being able to effectively forecast the market and take the necessary steps to make decisions based on the forecasts. Recently working alongside the Trump Organization, Hussain Sajwani praises his company for their uncanny ability to predict future significant market fluctuations with enough time to react in favor of the company.
With the birth of Damac Hills and Akoye Oxygen, in response to the market growth, the company saw significant profit losses, but Sajwani is still strongly hopeful that the company will exceed the 2,800 units originally estimated because he doesn’t predict the loss to be a continuous trend. Moving forward, the DAMAC owner and billionaire will continue growing its investing portfolio in the Dubai property market by enhancing its large ongoing projects. Historically, figures prove to have risen from $30.7Bn to $35.9Bn in the span of just one year. There is no denying the successful increase in the market over time, which Hussain Sajwani attributes to the regulations of the local government. New regulations presents buyers the opportunity to complete payment on investments through payment plans, but Sajwani calls for more effective regulations.
With recent visits to Croatia, Malta, Montenegro and a few others, the DAMAC Owner seems to be interested in investing in other markets once his current UAE investments are handed over between 2017-2021. With these efforts, the mogul looks to expand and potentially venture into different European markets. Even with eyes on other markets, the businessman makes it very clear that the company is still remaining a part of the Saudi Arabian market. The potential expansion projects, set to commence in 2018, are merely expansions of the already successful firm. He confirms this by assuring the golf course, that falls along the Trump brand, will be completed by the end of the year.
Content reference: https://www.elwatannews.com/news/details/2973567