Hussain Sajwani is the creator and leader of DAMAC. Now his son, Ali Sajwani, is gaining recognition of his own. He was one of a few young Middle Eastern entrepreneurs that received a “Future Stars” award at the Arabian Business Achievement Awards. The award show took place in Dubai, and guests included business moguls from the area and successful people from various industries.
The award show was put together by Arabian Business, a weekly business magazine published in Dubai that focuses on the Middle East. The purpose of the ceremony was to celebrate business executives who have taken compelling action in the are during the past thirty years. At the ceremony, Arabian Business honored just nine youthful, but accomplished people who have shown promise to become leaders in their area of expertise.
Ali Sajwani received recognition for his entrepreneurial spirit and remarkable learning of key components of the business while working as General Manager-Operations at DAMAC Group. The other eight bright young minds that were awarded included success stories from the fields of technology, science, government, and more.
To paraphrase Ali Sajwani’s sentiments regarding the award, he made it a point to mention how honored he was to receive such a distinction. Ali also recognizes how much responsibility comes with the award, and sees it as a symbol that he must continue to be a leader in his business and industry. He hopes to continue to make positive contributions to both the business world, and the Middle East.
Ali graduated from North Eastern University, located in Boston, Massachusetts, just a few years ago in 2014. He majored in Economics. He is continuing his education by earning a Level 3 CFA Certification. At the same time, he is responsible for the day-to-day operations at DAMAC Properties. He has worked for the family business since a very young age, and leads numerous working groups within the company. These groups focus on global development, vacation properties, and standard quality audit and control.
The father of Ali, Hussain Sajwani, began his property management business at the start of the millennium. He did this with a real estate investment that resulted in a residential building that was over thirty-five stories. The entire building was sold out in less than six weeks.
His unique selling proposition is fusing luxury brands with housing. For example, he’s created residencies that are branded by luxury names like Fendi, Bugatti, and Versace. He also uses unique marketing and promotion strategies. For one residential property, he gave a Lamborghini to whoever rented an apartment. He has even put attractions on some of his buildings. For instance, at one of his newer locations, Aykon City, you can put on a harness and walk on the outside of the building some eighty stores in the air.
In 2011, Sajwani began work on what he called the “Beverly Hills of the Middle East”. Its a large community just outside of Dubai. He teamed up with Donald Trump on the project, so the community includes a 500-acre Trump golf course and villas that have Trump branding.
During the creation of these projects, Hussain Sajwani founded DAMAC Properties, a property development company that does international business. He still acts as Chairman today.
Hussain Sajwani is also a United Arab Emirates national. He graduated from the University of Washington and then began working at GASCO, where he managed contracts. GASCO is an extension of it’s parent company, Abu Dhabi National Oil Company. Oddly enough, his first entrepreneurial venture was a catering business he put together in 1982. What many people do not realize is that the catering business still lives on today, and now serves 150,000 meals a day across multiple continents. The organization is seen as a market leader in the catering industry. They provide service to construction sites, army bases, schools, and resorts. The company also provides maintenance and staffing.
Sajwani is also credited as one of the leaders of the property market that expanded in Dubai during the 1990’s. During this time, he built multiple resorts to accommodate the high volume of visitors coming into Dubai due to growing opportunities. As the market continued to grow, he founded DAMAC in 2002.
One reason DAMAC has seen continued success is that Sajwani has a wide range of expertise. Because of his entrepreneurial background, he has extensive knowledge when it comes to advertising, selling, legal issues, investing, and general business conduction. This has allowed the company to complete projects in important international destinations that include Dubai, Abu Dhabi, and London.
With just fifteen years in business, DAMAC Properties now has two thousand employees. They are a company that can be traded on Dubai’s stock market. They have an excellent track record in their industry and forty-four thousand units in their portfolio.
Hussain Sajwani is an absolute powerhouse in the entrepreneurial arena, creating businesses in both catering and property management that have gone on to become extremely successful. He has been able to do this with a wide array of business tactics and knowledge, but one important skills he showcases is knowing his market. For example, due to the high income clients he has in Dubai, he arranges properties to be branded by the luxury brands they love, a strategy not before seen in property development. It’s no wonder that his son is now rising in the ranks, having worked for the family business since a young age. It’s clear that Hussain and Ali will be able to keep the business headed in a positive direction for years to come.