How Hussein Sajwani’s Damac Group Became a Success

Overview

 

Hussein Sajwani was born in the year 1956 in United Arabs Emirates (U.A.E). He attended Washington University and pursued a degree in Economics. After school, Sajwani got employed as a contract manager at GASCO a subsidiary company of ADNOC (Abu Dhabi National Oil Company). After working for GASCO for a period, Sajwani decided to start his company in the year 1982. The company was registered under the name Draieh Management Services Co LLC. Later, the company was renamed to DAMAC group.

 

Damac Properties

 

In the year 2002, the government of Dubai allowed foreigners to own properties in the country. Sajwani took this advantage and founded DAMAC properties. The company dealt with real estate businesses, and it turned out to be successful. In fact, within the first six months, the company had managed to make a sale 38-story residential building. Damac Properties concentrated on the resale of land in the undeveloped parts of Dubai.

 

 Collaborations

 

Today, Damac has teamed up with several luxury companies including Fendi, Versace to come up with the best apartment’s designs. The company also teamed up with United States President Donald Trump to come up with one of the most exclusive golf course in Dubai. He has been collaborating with various foreigners to help them make investments in Dubai.

 

Marketing tactics have helped Damac properties to get the success it has now. The company is famous for giving out a luxury car i.e. a Lamborghini, Bentley or a Ferrari to its clients with every purchase. Sajwani has also worked in the food service business and attracted lots of big clients such as U.S military and Bechtel, a giant construction company.

 

Conclusion

 

Damac Group is one of the most exclusive companies in Dubai. It is also one of the fastest growing and high profit yielding companies in the country. It was founded following a government policy to allow foreigners to own properties in the country. The company has worked with some companies to design and develop high-end buildings which have helped to build a better face of the country in the world. Sajwani’s career has been successful, and he was ranked 527th richest man in the world by Forbes 2016.

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http://gulfnews.com/culture/people/high-riser-1.25193