Hussain Sajwani

Hussain Sajwani
Born 1952/1953 (age 64–65)[1]
Residence Dubai, UAE
Nationality Emirati
Alma mater University of Washington
Occupation Founder and chairman, DAMAC Properties[2]
Known for Real estate development
Net worth US$4.1 billion (August 2018)[1]
Children 4
Website http://www.hussainsajwani.com/en/

Hussain Sajwani (born 1952/53) is an Emirati billionaire property developer, and the founder and chairman of real estate development company DAMAC Properties.[1][2][3][4] DAMAC Properties was ranked number one on the Forbes 2017 Global 2000 list of the fastest growing global companies based on the compound annual growth rate of revenues from 2013 to 2016. [5]

In the Forbes 2018 rankings, Sajwani was the world's 4th richest Arab with a net worth of $4.1 billion.[6]

Early life

Hussain Sajwani was born to an entrepreneur father, who had a shop where he sold watches, Parker pens, shirts and goods imported from China. He obtained a government scholarship, being one of the first few students sent by the government to the US, where he got a bachelor's degree in Industrial Engineering and Economics from the University of Washington.[7]

Career

Sajwani started his career in 1981 in the finance department in Abu Dhabi Gas Industries. Two years later, he started a catering venture, with customers including the U.S. military and Bechtel. The venture is still operational and is now called Global Logistics Services.[7]

In 2002, Sajwani established DAMAC Properties, one of the largest property development companies in Middle East. The company has developed around 19,000 apartments since its inception, and has over 44,000 units under various stages of development.[8] In 2015, the company got publicly-listed with shares traded on the Dubai Financial Market.[9]

Some of the well-known projects developed by DAMAC Properties include a golf course designed by Tiger Woods and managed by The Trump Organization,[10] luxury apartments with interiors by Italian fashion-houses Versace and Fendi, luxury villas styled by Bugatti,[2] and Paramount Hotels and Resorts in partnership with Paramount Pictures.[11]

Sajwani invested £600 million in London, UK, through its Versace-branded Aykon London One tower in Nine Elms.[12] Sajwani was listed among the 100 most globally influential Arabs by Gulf Business in 2017.[13]

CSR

In 2017, the Hussain Sajwani – DAMAC Foundation sponsored Dubai Future Foundation's One Million Arab Coders Initiative, which was launched by UAE Vice President and Prime Minister, and Ruler of Dubai, Sheikh Mohammad bin Rashid Al Maktoum, to provide free software development training to one million young Arabs. [14] [15]

Personal life

Sajwani is married, with four children, and lives in Dubai.[1] His son, Ali Sajwani, is an economics graduate from North Eastern University in Boston, Massachusetts, and the general manager of operations at DAMAC Group. He was called one of Middle East's Future Stars by the Arabian Business Achievement Awards 2017, organized by Arabian Business.[16]

Awards

  • Ranked Number 15 on Hotelier Power 50 - CEO Middle East Awards 2017 [17]
  • Property CEO of the Year – CEO Middle East Awards 2017 [18]
  • Real Estate Legend 2018 - Arabian Business Real Estate Awards [19]
  • Real Estate Business Leader of the Year 2018 - Gulf Business Award 2018 [20]

References

  1. 1 2 3 4 "Forbes profile: Hussain Sajwani". forbesmiddleeast.com. Retrieved 23 August 2018.
  2. 1 2 3 Moukheiber, Kerry A. Dolan,Zina. "How The Donald of Dubai Used Outrageous Marketing To Score A $3 Billion Real Estate Fortune".
  3. ↑ "Trump's sons in Dubai to open Trump International Golf Club". The National. Retrieved 11 November 2017.
  4. ↑ "Damac Maison Hotels & Resorts to add 6,050 keys in ME". tradearabia.com. Retrieved 11 November 2017.
  5. ↑ Murphy, Andrea. "Global 2000: Growth Champions". forbes.com. Retrieved 30 August 2018.
  6. ↑ amro. "Forbes unveils list of 31 richest Arabs in the world".
  7. 1 2 "Hussain Sajwani: The Donald of Dubai - Forbes India". Forbes India.
  8. ↑ finanzen.net GmbH. "DAMAC Chairman Explores Toronto's Sizzling Property Market During Visit to Canada | Markets Insider". markets.businessinsider.com. Retrieved 11 November 2017.
  9. ↑ "Dubai's Damac plans more London projects to follow launch of Versace-themed development". The National. Retrieved 11 November 2017.
  10. ↑ "Second time lucky for Tiger Woods? Golfer completes designs for new Dubai course". ArabianBusiness.com. Retrieved 11 November 2017.
  11. ↑ "Damac goes to Hollywood with Paramount partnership for hotel". The National. Retrieved 11 November 2017.
  12. ↑ "Donald Trump's Dubai business partner targets fresh London push". London Evening Standard. Retrieved 11 November 2017.
  13. ↑ "Top 100 Most Powerful Arabs 2017". Gulf Business. Retrieved 11 November 2017.
  14. ↑ "The One Million Arab Coder Initiative can help attract billions in foreign investment to MENA region". MENA Herald. Retrieved 20 April 2018.
  15. ↑ Report, Staff (2017-10-26). "Foundation to sponsor One Million Arab Coders initiative". GulfNews. Retrieved 2018-05-29.
  16. ↑ "Ali Sajwani Recognised as Future Leader at Business Awards Honouring Region's Top Achievers". zawya.com. Retrieved 20 April 2018.
  17. ↑ www.urrzaa.com, Urrzaa ::. "Hussain Sajwani - Chairman of Damac Properties / Damac Hotels & Resorts". hoteliermiddleeast.com. Retrieved 20 April 2018.
  18. ↑ "UAE hoteliers win top accolades at CEO Middle East Awards". arabianindustry.com. Retrieved 20 April 2018.
  19. ↑ "MAG, Wasl and Dubai Properties take top honours at Arabian Business Real Estate Awards". arabianbusiness.com. Retrieved 20 April 2018.
  20. ↑ "Revealed: Winners at the Gulf Business Awards 2018". gulfbusiness.com. 11 September 2018. Retrieved 19 September 2018.
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