Hussain Sajwani is a leader in the real estate industry in the Middle East. Starting out as a major food supplier to the U.S. Army during the first Desert Storm War, the Hussain Sajwani family established itself as a smart business operation. Read more: Hussain Sajwani | Forbes
Since then they have taken advantage of opportunities in the region to build additional opportunities through Damac, their main entity company. As the Damac owner, Hussain Sajwani saw opportunities in and around Dubai in the UAE. He purchased land in the outskirts of the city in the early 2000s and dabbled a bit in the mid-range real estate market, building several hotels.
This was at the time of the collapse of the Soviet Union and many Russians were immigrating to the Dubai area. Soon, Sajwani got into the market in a big way. In 2002 he began to build top of the market developments, and with an aggressive marketing campaign, it was a huge success.
The in 2008 the market skidded to a halt, but Sajwani saw it coming and had accumulated a sizable amount of cash reserves which got him through the crisis at the time.
Since then he had become a partner with Donald Trump, a relationship that began its start before Trump was running for the Presidency of the United States. There have been two Trump-style golf courses build on Sajwani’s properties, but the relationship is now with Trump’s children while he is in the Presidency.
Hussain Sajwani family has three primary business principles that he always adhere’s to which defines the success of his enterprises. First, the always owns the land 100% before anything else happens. As there are no debts for land, it opens up other paths of opportunities when they appear.
Secondly, all escrow accounts are independent, and there is no switching of money between accounts. Therefore, each development supports itself. Thirdly, there is an adequate amount of cash reserves maintained in fixed deposits and government bonds. This way there is adequate cash to continue construction of new properties should the market turn bad as it has in the past.
Sajwani and Damac are looking to other countries for investment possibilities, but are wary yet of political winds, and not the UEA is very stable.