Never take experience for granted for one never knows what advantages that experience can bring. That is the story that Hussain Sajwani likes to tell about his youth when as a young student he worked for his father after school. The family variety store business was the setting and long hours were what was required by his father. He told his father that he would never be a businessman when he grew up because the hours were too long.
It didn’t work out that way, however, as right after college, Sajwani started a catering company that did business with the US Army by providing them meals. The venture was a great success and Sajwani owes that successful time to his father making him work as a youth. With the catering venture, he learned to organize large groups for effectiveness and to grow a large company.
In 2002, Sajwani founded DAMAC, Inc., a real estate development and management company. It was about this time that the United Arab Emirates (UAE) decided to allow foreign residents to purchase property and to live in the UAE. This was a new event and Sajwani foresaw a large real estate boom. He began to purchase land immediately and his hunch was correct as a huge number of people immigrated to the UAE.
Sajwani is a great promoter and marketer and his tactics worked well. One of his favorite slogans was, “A New Bently With Each New Luxury Apartment.” His first project was all sold out even before any construction had begun. The living accommodations that were built by DAMAC were top-end luxury apartments and resorts, as he knew that there would be a considerable amount of the population would have the money to purchase higher-end properties and he was right.
According to independent.co.uk, by paying cash for land, financing very little of the rest, and having separate accounting for each property in the banking and accounting areas, Sajwani was able to weather later economic downturns and keep his projects alive. Today, Sajwani sits atop a real estate empire that extends throughout the Middle East, London, and Paris. His foresight and business acumen have afforded him the notoriety and prestige that his him in great demand for advice and planning for large communities and companies.