Hussain Sajwani is the CEO and founder of DAMAC Properties, the Dubai company listed by Forbes as the number one growth company in the world based on the annual growth rate of revenues from the years 2013 to 2016. That’s not too bad for a young boy who told his father that being a self-employed businessman was not for him because the hours were too long.
Young Hussain worked for his entrepreneur father in the family business after school. It was a medium-sized variety store that sold Chinese imports, stationery, office supplies, Parker Pens, and other consumer items. Although the hours were long by the standards of a teenager, it was there that he learned how to work and organize, as he readily admits today.
Sajwani did get a college degree and worked for a Dubai oil company for a short time until he discovered an opportunity and took advantage of it. He started a catering company which sold food to the US Army during the Gulf war in that region. Needless to say, the operation was a grand success, and the company is still in operation today.
When it was announced that the UAE would be relaxing its immigration policies in order to allow foreign nationals come to the UAE as residents, Sajwani claimed that there would be a real estate boom. He founded DAMAC for that purpose, which would turn out to the defining moment for the future of the Hussain Sajwani family.
Sajwani is a genius when it comes to promotion and marketing and he started right away with a heavy dose of each. In fact, his first real estate project, which was an apartment complex sold out completely before the construction was even started. His projects were mostly all high-end affairs, which many people in the region could afford and were demanding. One of his favorite slogans was, “A Bently For Each Apartment.” This type of outrageous marketing went over big and propelled DAMAC to new heights.
From the inception of the company, the DAMAC owner has built over 19,000 apartments and has over 44,000 more in various stages of development and construction. There is still room for growth and with second generation management in place, there is no reason to believe that the growth will slow down anytime soon.
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