Saudi billionaire and DAMAC owner Hussain Sajwani is looking to expand the real estate wing of the DAMAC Empire. The business mogul believes the time is right to invest beyond UAE, and he already has international connections to his advantage. DAMAC is also considering an IPO with Sajwani almost retiring from the business.
The Hussain Sajwani Family first ventured into the food industry before switching to real estate. Hussain Sajwani managed the family business growing its profits and supply networks beyond Saudi Arabia. DAMAC was the sole company supplying food products to American soldiers fighting the Iraqi war of 1991.
Even with such a huge contract with America, Mr. Sajwani still felt the business was not reaching the potential he wanted. To become a billionaire, he had to invest in something more lucrative. He exited the food industry and consolidated capital from the business to open a real estate firm.
In 2002, DAMAC joined the Dubai Property Market when it was at its peak. Sajwani had also invested in mid-market hotels in Deira which catered to expats flying in from the Soviet Union. His property portfolio was expanding, until July 2008 when the real estate market was hit with the global recession.
Fortunately, Hussain Sajwani had seen the recession coming and started taking necessary measures. He reduced spending costs and instilled a few strict measures like foreclosures for mortgage owner who had defaulted. Hs shrewdness managed to save his business from crumbling, and by the next year DAMAC had enough cash reserve to continue with its property projects.
Today Hussain Sajwani is one of the prominent billionaires in the UAE who is well connected to wealthy and powerful people. One of his long-time investment partner is Donald Trump with whom they opened the Trump International Golf Club Together. With his close friendship to the Trump family, Sajwani is confident that the Trump presidency definitely favors his business interests.
The 57-year-old Arab billionaire has solid plans for the future. As he exits the business, he intends to leave a strong and accountable leadership structure behind courtesy of the IPO they are considering. Mr. Sajwani also plans to expand the family real estate business to Riyadh and Jeddah in Saudi Arabia, as well as Turkey.
Visit http://hussainsajwani.com/ to learn more.