When it comes to how Dubai looks today, DAMAC owner Hussain Sajwani is one of the people who has played the biggest role. He was born in Dubai in the 1950s, and he has had a key role in shaping both the city and the emirate.
Hussain Sajwani grew up in a middle class family in Dubai. His father was the purveyor of imported goods at the shop that he owned. This was the first glimpse into the world of being an entrepreneur that Hussain Sajwani got as a boy.
He did not, however, immediately strike out on his own after graduating with a bachelor’s degree in Industrial Engineering and Economics from the University of Washington. Instead, he went to work for a gas company. However, his entrepreneurial drive led him to open his own food services firm within a couple of years. Learn more about Hussain Sajwani: https://www.damacproperties.com/en/investor-relations/corporate-governance/meet-our-board and http://www.albawaba.com/business/pr/damac-needy-children-518106
That first venture proved quite successful, and it was his primary focus for about two decades. Then, in 2002, Hussain Sajwani expanded his focus. That was when he established property development company DAMAC–a company poised to enjoy the benefit of a recent change in Dubai law.
That change in Dubai’s law allowed for the purchase of property by foreigners. This meant a large number of potential customers for the newly founded DAMAC, and Hussain Sajwani was eager to do business with them. In fact, non-emiratis were the primary demographic for the first project DAMAC undertook: a high rise apartment building.
During its nearly 20 years in business, DAMAC has established itself as a leader in luxury property development throughout the region. The company has been responsible for residential, commercial, and mixed-use projects that have helped to shape Dubai and have had a definite impact on the region overall.
DAMAC Owner Hussain Sajwani has also made a point of giving back to the region. In conjunction with DAMAC, he has created the DAMAC Foundation. It is the philanthropic wing of the DAMAC Group.