In 2002 DAMAC Properties Dubai Company was established by Hussain Sajwani. He is the chairman of this business which builds luxury properties in the Middle East. Their property developments include residential properties as well as commercial and leisure facilities. Hussain Sajwani was born and raised in Dubai and he went to the United States for his college education. He attended the University of Washington on a scholarship and graduated with a bachelor’s degree in economics.
After briefly working for GASCO, a subsidiary of the state-owned oil and gas company in the United Arab Emirate, he established his own company in 1982. This is a catering company that started out small but now provides it services at 200 locations where it serves about 150,000 meals each day. His company serves food at places like universities, construction campsites, oil well locations, and high-end hotels.
It was in the middle of the 1990s that Hussain Sajwani became interested in real estate. His first ventures in this field were hotels he built in Dubai. These were built for the many foreigners who come to Dubai in order to engage in business activities. At DAMAC Properties they have now built over 20,000 homes. In addition to building luxury properties, Hussain Sajwani’s company also handles all of the sales, marketing, and other activities it takes to build and sell these homes.
Hussain Sajwani likes to partner with luxury brands to build and sell his homes. Examples of this include partnering with Fendi who designed the interiors in a number of his company’s apartments, villas, and cottages. Some of his other apartments had their interiors designed by Versace. He also has partnered with Bugatti who designed a series of cottages for DAMAC Properties.
Another way that Hussain Sajwani makes money is by investing in other companies through another company he owns, DICO Investment Company LLC. He has invested in private equity firms and has also merged or acquired other companies. Some of the companies Hussain Sajwani now owns are Al Jazeera Services, Al Anwar Ceramic Tiles Company, and Al Amana Building Materials which is headquartered in Oman.