The UAE has had many awards ceremonies for CEOs and businesses who have turned investments into huge gains and given the region an industries a huge boom. Hussain Sajwani has been among the most awarded at these ceremonies taking home awards like “Top Arabian CEO” and “Top Real Estate Tycoon” along with being featured in magazines like Forbes Middle East edition. But his latest award is “Real Estate Legend” because he’s been a man of vision who has not only pursued investments in buildings of the most eye-catching designs, but has also kept his company DAMAC Properties out of debt. Part of keeping it that way has been his management of Escrow and having private equity holdings to bolster capital.
Hussain Sajwani came from a working family in the UAE who ran a trade shop, but he had the opportunity to attend the University of Washington to get a formal education. Several years after graduating and doing contract work for an oil company, Sajwani started his own business in catering, and his clientele spanned across the Middle East even into Europe and North America. The profits he made from that business and stock trading led to him getting the capital to buy hotels in the 1990s. They were just regular 3-star lodgings, but he began incorporating his catering services along with them and his revenue grew even more. Sajwani bought bigger properties around the early 2000s and officially founded DAMAC Properties in 2002. The company was completely privately-owned until just a few years ago when it became publicly-traded on the London Stock Exchange and Muscat Exchange.
The portfolio listings of DAMAC Properties are immense, but some of the most famous are the Marina Terrace housing, the Park Towers in the Dubai International Financial Center, AYKON, AKOYA Oxygen with the Trump International Golf Club, and DAMAC Tower. Along with being DAMAC owner, Hussain Sajwani owns Al Anwar Ceramic Tiles and an insurance company in Oman. He is also a proud supporter of non-profits like the Red Crescent’s rescue operations and Bill Gates’s One-Million Arab Coders initiative which is meant to increase technology education investments.