As a schoolboy growing up in Dubai, Hussain Samwani not only had to mind his studies, but he also worked with his father in the family variety store business after school. The hours were very long which bothered Sajwani, the DAMAC Owner. He mentioned often that he would never become a businessman because the hours were much too long. Instead, he would rather be a professional person with a degree so he could work regular hours.
Albawaba.com mentioned that after receiving a college degree in the United States, Sajwani returned to Dubai where he worked various jobs until he formed a catering company that sold meals to the US Army during the two Gulf wars. His company did very well and it is still doing business today.
It was not long after that when the United Arab Emirates declared the go-ahead for foreign individuals to be able to purchase property and take up residence in the Emirates. Sajwani correctly surmised that there would soon be a great demand for properties and living accommodations. This was the birth of DAMAC Properties, Sajwani’s real estate and development company.
As he began to purchase land in and around Dubai, his promotional activities began to be very successful and sales of his apartments were very high. Sajwani offered the high end of luxurious living quarters along with many accessories. For example, he offered a new Bently with each purchase. See properties built by DAMAC here.
According to the Analyst of Finance, Sajwani followed rigorous business practices such as paying only cash for land and financing very little of the rest of the project. He also instituted a separate banking and accounting model for each project so each one would stand on its own.
Today, Sajwani owns and manages real estate from London, Paris, and many areas of the middle east. There are even Donald Trump resorts and golf courses in several of his projects. Many members of his family now hold responsible management positions within the company and Hussain Sajwani is sought out quite often for municipal as well as private real estate advice.
Hussain Sajwani did actually become a businessman and certainly, he still continued to put in the necessary hours to make everything work well, and he enjoys it thoroughly.
Sajwani on LinkedIn: https://ae.linkedin.com/in/hussainsajwani