As a boy, Hussain Sajwani worked hard for his entrepreneur father in the family retail store. Hussain worked lots of extra hours in the Dubai store after school, and he dreamed of someday becoming a professional with a degree so he would be able to work regular hours.
While Hussain did go on and get a degree, his dream changed in a hurry when he discovered an opportunity that had his name written all over it. After working as an engineer for an oil company for a short period of time, he started a catering company that served food to the US Army during the Gulf War in Kuwait and Iraq. This turned out to be a very profitable enterprise and the company is still in business.
In 2002, Sajwani founded DAMAC Properties, a real estate development company in Dubai. The government of the UAE had just announced that the restrictions regarding immigration had just been eliminated for foreign nationals. This created an expected real estate boom which Sajwani wanted to be ready for.
Sajwani is a great marketer and promoter, and he started right out beating his own drum in that area. Soon his signs and placards were everywhere and his first apartment project was all sold out before the construction on it was even started. One of his favorite slogans was, “A Bently For Every Apartment.” It was tactics like that that helped to push the DAMAC brand to the top.
DAMAC was to become the Hussain Sajwani family beacon for success as project after project came to a successful conclusion. DAMAC has built and completed 19,000 apartments and currently has over 44,000 in different stages of completion. People have come to count on DAMAC for the best luxury accommodations in Dubai.
Sajwani uses very conservative business practices. For example, he pays cash for his property purposes. This assures that the land will always be intact and that foreclosure will be that much more difficult. Very little financing of the construction is involved as only 10 to 20 percent is usually the norm.
The DAMAC owner has also made sure that the family legacy will continue with many family members taking part in management positions.
To learn more, visit http://www.damac.com/.