How Hussain Sajwani Became Very Wealthy

A native of the United Arab Emirate, Hussain Sajwani is an entrepreneur who established his own company called DAMAC Group. He is presently both the chairman of the board and chief executive officer of this firm which he created in 2002. He is now worth around $4 billion and he says that he feels very fortunate about this because he grew up in a pretty humble family of conservatives.

 

Hussain Sajwani was born in 1954. His family was middle class and his father owned a shop in Dubai where he sold imported items to customers such as pens and watches. His father worked really long hours so he didn’t spend a lot of time with his children, although he did have Hussain and his siblings work in the shop sometimes. His father also invested a bit in real estate but really his main focus was the success of his shop. His mother also chipped in financially, he says, by buying and selling household goods such as fabrics which other women in the area needed.

 

Initially, Hussain Sajwani wanted to become a medical doctor. He moved to Iraq and started attending one of Bagdad’s medical colleges paid for by a government scholarship. However, he eventually decided that it wasn’t for him so he left Bagdad and moved back home to Dubai. He was in business for a number of years before founding DAMAC Group. His company develops properties that are used for residential, leisure, and retail purposes. He started out building properties in Dubai, expanded that to throughout the UAE, and now has developed properties all over the Middle East. He specializes in luxury developments.

 

Hussain Sajwani says that DAMAC Group always has a number of developments going on. Presently his two biggest ones total 100 million square feet of development between the two of them. The first one to be completed is DAMAC Hills which is in Dubailand. Like the other one still to be completed it is a luxury style golfing community built in a partnership with Donald Trump. It is a mix of luxury apartments, mansions, villas, and townhouses.

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