An article from Albawaba Business discusses DAMAC owner Hussain Sajwani. According to forbes, the successful billionaire and businessman’s net worth is now at $4.3bn. His fortune and DAMAC’s fortune is seeming to grow at significant rates after DAMAC opened its first golf club. The golf club was a partnership with the Trump Organisation.
The DAMAC owner explained in the article that he is confident his business will over exceed its sales targets by the end of the year. The company predicted that they would have $1.9bn in sales by the end of the year, but Hussain Sajwani believes they will more than exceed that goal.
The article discusses that Hussain Sajwani started DAMAC in 2002. Sajwani was originally in the catering business. The article mentions that Sajwani saw an opening in the Dubai real estate market in regards to foreign investors and jumped at the opportunity.
Sajwani said that DAMAC began to focus “heavily on delivery” before the company started its new project in 2012 of December. After this, the DAMAC owner launched a huge development, DAMAC Hills, that had mansions and apartments surrounding a golf course. This project was 42 million square feet and was in partnership with the Trump Organisation. The following year, Akoya was launched. This business venture was even bigger than the first at 55 million square feet.
Hussain Sajwani says in the article that he credits his company’s success to the ability of its adaptability to the market and its changes. The DAMAC owner says he spots the market changes very quickly and deals with and accepts them.
Sajwani mentions in the article that they saw the 2008 crisis very early and were able to take immediate severe actions to mend things. This made Damac the only survivor of the dormant companies.
The article mentions that Sajwani saw the market was going places in 2012 and made the move to launch DAMAC Hills and Akoya Oxygen. The company and DAMAC really keep a watch on the market so that they know when to make their next business moves.
DAMAC’s owner is very optimistic in regards to the property market. The article mentions that as DAMAC sales continue to climb, the company is still working on growing its project portfolio. These hotels and apartments that make up this portfolio are almost 30 percent in DAMAC’s sales.
According to the article, Damac is also working on the developing a $1bn Mina Sultan Qaboos Waterfront, which is a tourism and residential development. Sajwani is also open to other markets as well. The savvy businessman has made trips to many other markets in the past year.
Sajwani is very passionate about growing his company even further and expanding its market to countries outside of Dubai. The DAMAC owner wants to pull together his resources and connections to grow overseas. Right now he is very interested in the European and Saudi Arabian markets
With the help of the Trump Organisation, Sajwani and DAMAC are building another golf course. Sajwani mentions in the article that the team is doing an amazing job working to develop this golf course together.
Hussain Sajwani is very confident that DAMAC will only excel from here and that the company’s market will only expand over the years.