Hussain Sajwani Shares his Bad Experience with DAMAC Properties

Hussain Sajwani is the owner of the famous DAMAC Property. He attained his entrepreneurial skills from his father, Ali Sajwani. When Hussain was a little boy, he used to spend his afternoon at his father small shop. Two years after his graduation (1982), he implements his father skills and established a catering company that gained much success. In an interview, he mentioned that he schooled in the University of Washington. This company has massively grown and is currently referred to as Global Logistics Services. He launched his first ever property development business venture that entailed building hotels in Dubai. Hussain Sajwani established DAMAC Properties in 2002.

According to Independent UK, DAMAC Properties diversified its services in various massive and luxurious real estate projects in Dubai between 2002 and 2005. This company drastically became an essential part in the growth and development of Dubai hotspot and architectural phenomenon. This company went internationally viral in 2005 with various developments in Egypt, Lebanon, Jordan and Saudi Arabia. Surprising, DAMAC Properties managed to finance its drastic growth without taking any donations from the investors. All credit goes to the lucrative regional stock market investments and Hussain Sajwani smart side business revenue. As per Forbes Middle East, DAMAC Properties was able to emerge as one of the tremendously successful, visible and influential property development companies in Dubai, the entire Middle East, and the United Arab Emirates. There was great excitement all over the world as they witnessed the prolific growth in Dubai. They were highly eager to see what DAMAC Properties would do next.

Unfortunately, DAMAC almost failed during the 2008 property crash. As Hussain Sajwani was addressing Arabian Business, he noted that he was among the few who oversaw this tragedy. He was quite aware that a dangerous situation is on their way. To counter the underlying negative impact, they acted randomly and released many people, cutting their overheads as well as consolidating their lands and projects. They were severely attacked by the press and media merely because they were the first ones to do that. The Arabian Business profile by Hussain Sajwani also incorporates insightful information on how the self-made mogul was able to DAMAC Properties afloat all through this period.

More info: ideamensch.com/hussain-sajwani/

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