Hussain Sajwani is the owner and founder of DAMAC Properties, a global property development company. His company was ranked at number one by Forbes in their Global 2000 list in 2017 as the fastest growing global company, based on data from 2013 to 2016. In addition, to being listed among the top 100 most influential Arabs, Hussain Sajwani was listed by Forbes in 2018 as the 4th richest Arab in the world, having a net worth of $4.1 billion
Despite the fact that DAMAC grew into a successful international company, it is not that first business success of Hussain Sajwani. He obtained a scholarship and went to the United States in order to get his bachelor’s degree from the University of Washington in Industrial Engineering and Economics. Before he became the DAMAC Owner he worked for Abu Dhabi Gas Industries, and started a catering venture (which operates to this day under the name Global Logistics Services). His catering business was launched in 1982 and quickly became a market leader, serving more than 150,000 meals every day and managing over 200 projects.
Sajwani saw another opportunity in the real estate market which was developing fast, and established DAMAC in 2002. During his career, the DAMAC owner considers that the biggest decision and risks he took was when he decided to make DAMA a public company. He stated that the step required them to make a lot of internal changes, in order to be compliant with different financial regulations. The DAMAC owner considers opening their books to the public scrutiny and review is a big decision for business owners to make.
Nowadays DAMAC is not limited anymore just to Dubai. What started as a small venture focused on developing small hotels grew and is part of many countries in the Middle East and also the United Kingdom, having approximately 2000 employees. DAMAC developed an impressive portfolio which includes more than 17,900 homes as well as 44,000 units. Hussain Sajwani considers that DAMAC reached a size and level of maturity which enables it to look beyond the region, believing that DAMAC can leverage its expertise in order to expand its presence.