Who is Hussain Sajwani?
Hussain Sajwani (born 1953) is an Emirati billionaire businessman and the founder of DAMAC Properties and his private investment company, DICO Group. DAMAC Properties was rated first on Forbes’ 2017 Global 2000 list of the world’s fastest-growing corporations based on sales compound annual growth rate from 2013 to 2016.
Sajwani was named to Gulf Business’ list of the 100 most powerful Arabs in 2017, 2018, and 2020, as well as Arabian Business’ list of the 100 most powerful Arabs in 2018 and 2019. Sajwani’s private investment business secured the purchase of Italian fashion group Roberto Cavalli in 2019. According to Forbes, Hussain Sajwani is one of the top ten richest Arabs as of April 2021, with a net worth of US$2.6 billion.
Hussain Sajwani Personal Life/Early Life
Hussain Sajwani is the eldest child of five. His parents were also business owners. His father was a dealer who had a shop in the local, selling watches, Parker pens, clothes, and Chinese imports. Sajwani received a government scholarship to attend medical school in Baghdad. After his first year, he moved to the United States to study industrial engineering at the University of Washington.
Hussain Sajwani Relationship Status
Sajwani is a married man and lives in Dubai with his four children. Ali Sajwani, his son, is the general manager of operations of DAMAC Group and a graduate of Northeastern University in Boston, Massachusetts. The Arabian Business Achievement Awards 2017, produced by Arabian Business, named him one of the Middle East’s Future Stars.
His daughter, Amira Sajwani, is a University College London (UCL) graduate with a major in Construction Project Management and a Masters in Finance from the London School of Economics (LSE). She is the Senior Vice President of Operations of DAMAC.
|Age (As of 2022)||68–69 years|
|Famous For||Real estate development|
|Net Worth||$2.6B USD|
|Height(Approx)||In feet & inches: 5’8”
In centimeters: 173 cm
|Weight(Approx)||In kilograms: 70 kg
In pounds: 154 lbs
|Family Background, Education|
|Father Name||His father was a trader
|Mother Name||Not Known
|College||University of Washington
|Girlfriend, Wife, Marriage|
|Wife/Spouse||Name Not Known|
|Favorite Things & Assets|
|Favorite Actor||Not Known|
|Favorite TV Show||Not Known|
|Favorite Book(s)||Not Known|
|Favorite Comic Character||Not Known|
|Car Collection||Not Known|
|Social Media Accounts|
Hussain Sajwani Career Highlights
Sajwani began his work in the financial department of Abu Dhabi Gas Industries in 1981. Two years later, he launched a catering business, with clients including the United States military and Bechtel. The company is still in business and is now known as Global Logistics Services. Sajwani founded DAMAC Properties, one of the major property development enterprises in the Middle East, in 2002. Since its founding, the firm has produced around 27,400 houses and has over 35,000 units in various phases of development.
DAMAC Properties debuted its hospitality branch, DAMAC Maison Hotels & Resorts, in October 2011. The firm went public in 2015, with shares trading on the Dubai Financial Market. DAMAC Properties’ projects include a golf course designed by Tiger Woods and managed by The Trump Organization, luxury apartments with interiors designed by Italian fashion house Versace, Fendi, and Roberto Cavalli, and brands such as Paramount Hotels and Resorts in collaboration with Paramount Pictures. Sajwani spent £600 million in the Versace-branded DAMAC Tower London in Nine Elms, London, UK. Hussain Sajwani resigned as chairman of Damac Properties in June 2021 and offered to take the firm private.
The Hussain Sajwani – DAMAC Foundation supported the Dubai Future Foundation’s One Million Arab Coders Initiative in 2017, which was launched by UAE Vice President and Prime Minister, and Ruler of Dubai, Sheikh Mohammad bin Rashid Al Maktoum, to provide free software development training to one million young Arabs.
The foundation committed AED 3 million in February 2020 to the Arab Hope Makers initiative’s Humanitarian Cause of the Year, the development of Egypt’s Magdi Yacoub Global Heart Centre. The Hussain Sajwani-DAMAC Foundation has given Dh 1 million to the ‘100 million meals’ campaign, the UAE’s largest food distribution push for families impacted by the coronavirus, in April 2020.
- Hotelier Power 50 – CEO Middle East Awards 2017 ranked 15th.
- CEO Middle East Awards 2017: Property CEO of the Year
- Arabian Business Real Estate Awards – Real Estate Legend 2018.
- Gulf Business Awards 2018: Real Estate Business Leader of the Year
- In 2019, he was ranked 26th on Construction Week’s Power 100 list.
- Sajwani was named one of the most prominent persons in the MENA real estate business by Cityscape Intelligence in 2020.
Hussain Sajwani Wealth and Net Worth
According to Forbes, Hussain Sajwani is one of the top ten richest Arabs as of April 2021, with a net worth of US$2.6 billion.
Some Amazing Facts At A Glance About Hussain Sajwani
- Hussain Sajwani is the chairman of Damac Properties, a premium real estate developer located in Dubai that he launched in 2002.
- He began his career in the foodservice industry, catering to the US military and construction behemoth Bechtel.
- He switched to real estate in 2001, once Dubai enabled foreigners to purchase property, and sold apartments in a residential complex in less than six months.
- In 2013, Damac partnered with Donald Trump to build two Trump-branded golf courses in Dubai projects.
- Sajwani is noted for his flamboyant marketing, including the provision of free Lamborghinis to condo purchasers. Versace and Bugatti have co-branding agreements with him.