Hussain Sajwani From Part-Time Helper to Multi-Billionair

When Hussain worked for his father after school in Dubai as a teenager, he put in some very long hours. The family business was a retail variety shop that sold Parker Pens, office supplies, and other imported items. Hussain swore that he would never go into business for himself, but that he would become a degreed professional with regular working hours.

 

Then while in school he located a very cost-effective source of candy which he then sold to his schoolmates for a nice profit. He went on to college winning a scholarship to the University of Washington where he graduated with a degree in engineering. After a stint as an employee as an engineer at an oil company in Dubai, he formed a very successful catering company that supplied the food to the United States Army during the Gulf Wars. That company is still very successful today.

 

In 2002, Sajwani founded DAMAC, a real estate investment company when he learned that the UAE was going to relax its immigration policy and allow foreign nationals to become residents. Sajwani, sensing a real estate boom, wanted to be ready. Sajwani was a very good promoter, so good that his first real estate project was totally sold out before the construction had even begun.

 

Sajwan, the DAMAC owner, uses a very conservative approach to his business. He always pays cash up-front and he finances very little of the actual construction process. This way he is in a solid financial position with each project. He also keeps a separate bank account for each project as well as a separate accounting system. That way one bad project will not affect the rest of the business.

 

Since the inception of DAMAC, Sajwani has built over 19,000 apartments with an additional 44,000 in some stage of production. And he claims that there is room for many more projects, as they are in great demand. This progress has certainly made the Hussain Sajwani family very prosperous.

 

Sajwani is internationally known for not only his vast success, but also as an authority of what is happening in the middle east from a business standpoint.