Hussain Sajwani owns and operates a company in Dubai known as DAMAC Properties. His specialty is luxury properties that are primarily residential in nature plus accompanying space for luxury retail stores. He is the chairman of the company and oversees the business’ strategic vision in the property development industry.
After graduating from college, Hussain Sajwani briefly worked for Abu Dhabi Gas Industries, the state-owned oil company. He soon left and founded Global Logistics Services in 1983. This is a company that he still owns and as a catering company has as its two biggest clients the United States military and Bechtel Corporation which is an American construction business that does projects throughout the Middle East.
Through DAMAC Properties, Hussain Sajwani has built real estate developments throughout the Middle East. His leadership has led to DAMAC Properties becoming on the biggest property development businesses in the region. He often partners with other luxury brands on his projects, such as the Trump Organization. DAMAC Properties has built one large real estate development near Dubai, with a second underway, that contain golf courses which Donald Trump’s organization provides management services for.
In recent years Hussain Sajwani has expanded DAMAC Properties into Europe with plans for North American property developments as well in the future. The first market he entered was London, both because Brexit brought down the costs of real estate there and because the pound has dropped in value against the American dollar. He invested in a tower, expected to be completed in 2019, that sits right next to the River Thames.
Other European real estate investment opportunities that have caught Hussain Sajwani’s eye are located along the Spanish coast and in Berlin, Germany. He says that DAMAC Properties has had difficulty expanding in the Middle East in recent years just due to how big his company has gotten so he decided to make other areas of the world a focus. He thinks a lot of this opportunity to invest in real estate will mostly be in the United Kingdom, though, as he sees the pound continuing to weaken in the future. He said that property sellers in the UK have been more willing to sell since Brexit which makes doing deals easier. He expects a number of DAMAC Properties developments there due to this reason as well as dropping land prices.
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