Hussain Sajwani may be the most influential individual in Dubai’s real estate industry. The founder and CEO of Damac Properties is a prominent figure in business throughout the region. He is largely credited as a driving force behind the city’s gigantic real estate boom, which was the world’s biggest of all time. He reshaped the city with his impactful real estate projects. Many thought the market crash 10 years ago would was near impossible for it to bounce back from until Sajwani once again reshaped the city with his real estate projects. That feat in itself deserves a round of applause. Many people havebeen curious about how the Arabian businessman could pull it off twice. In a recent interview he explains how he rebuilt his empire and what is the next step for him and his company moving forward.
Since Damac Properties had grown so big and so rapidly when the property crash hit it fell the hardest. The Damac owner admits that those were troubled times.
The first business Sajwani founded wasn’t in real estate. It was a catering company called Global Logistics Services, which he still own today. With Sajwani’s leadership it quickly became the top catering company in the region. He didn’t enter the real estate industry until many years later.
Then in 2001 the Dubai government declared a new rule that would allow expats to have property leases. A year later foreigner were also given the opportunity to buy property. The same year Sajwani founded Damac Properties looking to capitalize on the new rule changes. He knew it was a great investment opportunity. With some great investments and decision making Damac properties became Dubai’s largest private developer in less than a decade. Luckily Sajwani saw the fall of the market coming and put measures in place for when it inevitably happened. Because of his foresight Damac was able to quickly mount a comeback. By 2013 it was business as usual for the real estate juggernaut.
Hussain Sajwani says the company is looking to expand into Europe in the near future. His dream is to have Damac towers in gateway cities around the world.