Born in 1952, Hussain Sajwani is the Emirati billionaire chairman and founder of real estate company DAMAC Properties.
He is a resident of Dubai, United Arab Emirates and a graduate of the reputable University of Washington. We give you a rundown of his early life and his successful career.
Hussain Sajwani’s Early Life.
Hussain Sajwani wasn’t actually born into riches. His parents were Shiite Indians from Hyderabad. They were spice tradespeople who also traded pens, shirts, watches and other imported goods.Because of this background, Sajwani has a fluent command of Hindi and often speaks it at work.
Sajwani was fortunate enough to be among the few students sponsored by Emirate’s scholarships to the United States. The now DAMAC owner studied Industrial Engineering & Economics in the US where he acquired his bachelor’s degree.
Hussain Sajwani’s Career.
Following his graduation in 1981, Sajwani kickstarted his career in the finance department of the Abu Dhabi Gas Industries. Two years after, he began a catering project which has Bechtel and the United States military as its target audience. The project is still functional till date and is known as Global Logistics Services.
Sajwani founded DAMAC Properties in 2002. Few years over its first decade, the company was listed among the biggest real estate development firms in the Middle East. Today, the company has successfully developed over 19,000 properties with more than 44,000 units in different development stages. The company was publicly listed in 2015. One of the thousands of projects accomplished by Hussain Sajwani’s DAMAC Properties is the popular golf course designed by golf star Tiger Woods. Others include luxury apartments by Fendi and Versace, luxury properties designed by Bugatti and Paramount Hotels & Resorts.
In 2017, Hussain Sajwani was named by Gulf Business in the list of the 100 most globally-influential Arabs.
Based on the estimated annual growth rate of the company’s revenue, the firm occupies the No. 1 spot on the list of Forbes Magazine’s fastest-growing Global 2000 companies.
Today, the DAMAC owner is worth $4.1 billion. According to Forbes ranking of billionaires in 2018, this makes him the fourth richest Arab in the world.