Hussain Sajwani was at the World Economic Forum and did a short interview with the CNBC business media where he gave some updates about things that were happening at his company, DAMAC Properties and its subsidiaries. He said that he was looking to increase liquidity by selling a small percentage of the controlling shares, but he couldn’t give an exact amount. Sajwani also said that though his company has had to decrease some of their hotel and vacation home unit construction, he has no concern about a surplus of real estate in Dubai. He did mention though that the company was looking at buying properties in the UK and possibly North America.
Hussain Sajwani has not been a world-class real estate and private equities manager, he is also a known partner and friend of President Donald Trump. He has worked on several properties with Trump and his family including the Tiger Woods Golf Course at one Trump resort in 2011, and then the Trump International Golf Club was completed and officially opened in 2017. But prior to that Sajwani had many other partnerships with European and US real estate companies.
Hussain Sajwani is a graduate of the University of Washington and a former oil company contracts manager for one of the UAE’s most prestigious oil companies. He started his own company, Dariah Management Services Company which offered food catering services to all kinds of clients including the US Army who gave him an award for the quality of food delivered to troops stationed during the Gulf War. He started making his way into real estate in the 1990s when he started DAMAC Invest and Al Jazeira Services which started bringing in capital for small hotel investments. He officially began DAMAC Properties in 2002 and also bought stakes in Al Ahlia Insurance and Al Anwar Ceramic Tiles.
Sajwani put completed his first 5-star property construction contract in 2005 when Marina Terrace was finished, and not long after had DAMAC Tower built with a partnership with the Versace brand. After 2010 his real estate investments really took off when he acquired a deal for AKOYA Oxygen in the outskirts of Dubai, and then began his AYKON City project. AYKON City is a part of Dubai that stands apart as almost a small city of first class hotels that also have entertainment outlets and clubs included with them. Sajwani has won several awards such as CEO of the Year from Arab business magazines and his latest Real Estate Tycoon Awards reception.