DAMAC Properties is a global property development company that focuses on commercial, residential and leisure properties in Dubai and the Middle East. The company also deals in real estate projects. It is based in Dubai and was founded in 2002 by Husain Ali Habib Sajwani. Husain Sajwani currently acts as the chairman and chief executive officer of the company. Sajwani started the business when the Dubai government allowed foreigners to own property in the emirate. He discovered that most buyers would be foreigners, so he acquired land in an underdeveloped part of town. In less than six months, he had sold units in his 38storey building even before construction began.
Pioneers like DAMAC owner Sajwani have helped paint Dubai as one of the dream destinations of the world. He attended Washington University. After graduation, Sajwani worked as a contracts manager for GASCO, a sister of company of Abu Dhabi National Oil Company. He worked for a short period then moved on to start his own business in the catering sector in 1982. It was while in the catering business that he worked with clients such as the U.S military and construction company Bechtel. He later invested in property markets by establishing Damac properties.
Just like many other successful entrepreneurs, Sajwani has connections with top entrepreneurs in the world. He collaborated with Donald Trump in 2013 to develop two Trump-branded golf courses. International Golf Course Dubai was opened in February 2017 in DAMAC’s Akoya residential development, and the Trump World Golf Course is expected to open at a different DAMAC property in 2018.
As Trump celebrated his victory on New Year’s Eve at Mar-a-Lago resort in Florida, he praised his business partners in Dubai. The Sajwani family had attended the event, and Trump gave them a mention, saying that they are wonderful people. DAMAC Properties employs around 2000 employees and has shares on the Dubai Financial Market. The company is one of the leading in luxury property development having completed more than 16,800 homes. DAMAC supports many charitable activities. In 2013, Husain Sajwani handed over a cheque of AED two million to a campaign aimed at clothing poverty-stricken children around the world.