Businessman

The Making of Hussain Sajwani and Damac Properties

Hussain Sajwani is a United Arab Emirates-based real estate developer and philanthropist. He is the founder of Damac Group of companies. Sajwani attended the University of Washington. There, he graduated with a degree in economics. In 1982, he got a job with GASCO, a subsidiary of Abu Dhabi National Oil Company as a contracts manager. It wasn’t long after that he established his enterprise and called it Damac LLC. Later, the company became Damac Group. In the early 90’s he developed DICO Invest, an investment firm that currently holds portfolios of securities in several companies. Sajwani also founded Al Jazeira services that currently, stands at a market capitalization of over $125 million. He consolidated the company strengths and invested in Bahrain-based Al Ahlia Insurance Company. He acquired a 40 percent stake in the firm.

 

Sajwani has also taken part in the foundation and development of Al Anwar Ceramic Tiles. The institution was established in 1998 and is the only tile manufacturer in the country. He holds shares in different companies. He also holds a board membership position at Majan University College.

 

Hussain Sajwani and President Donald Trump spent the New Year’s Eve together. The two businessmen had partnered in several deals even before the election of Trump as the president of USA. Together, they developed the Trumps International Golf Club. The luxury villas brought a net of $ 2 billion. According to a statement made to NBC News by Sajwani, it was evident that the relationship between the two entrepreneurs went beyond the business boundaries. Sajwani told the news station that his children were much involved with trumps’. He also said that his wife has a close relationship with Ivanka. Additionally, on several occasions, they have traveled to New York and had dinner and lunch together. Ivanka and her children have visited their Dubai home on several occasions.

 

Sajwani is also known for his philanthropic activities. A twitter handle said that it more of sharing and not about charity. In a recent event, he donated one million AED in a cause that sought to clothe a million needy children.

Learn more:

http://www.nbcnews.com/news/world/dubai-billionaire-hussein-sajwani-ready-do-more-deals-trumps-n695566

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