Hussain Sajwani: From Rags to Riches
Hussain Sajwani is a real estate billionaire who belongs to the UAE. Born in 1952 in Dubai, Sajwani comes from an entrepreneurial background. His father used to sell imported goods from China. He is the famous DAMAC Owner (DAMAC is the famous real estate development company). As of August 2018, the billionaire has a net worth of around 4.1 billion USD. Not all times was a bed of roses for Sajwani. He was born into a middle class family. After spending time in school, he used to assist in the family business during the day. This experience was crucial to the young boy then, as he developed an ability to take risk.
Hussain Sajwani has had a privileged educational background with a graduate degree in Industrial Engineering and Economics from University of Washington. An added privilege on this degree was that it was achieved on a government scholarship. During his time at the university, Sajwani continued his entrepreneurial journey by selling apartments during vacations. He started his professional career at GASCO in 1981. Two years down the line he was operating his own venture, a catering company for the elitist of the customers. The company today is called Global Logistics Services. It is currently running a vast number of projects and offering a variety of services in camp supervision, maintenance and manpower resources.
In 2002, Sajwani established the famous DAMAC Properties. The idea was inspired by the gap in the up and coming real estate market in the UAE. The firm has grown into a giant in the property niche in the Middle East. The DAMAC Owner’s ability and experience within the advancing ground of property from sales, administration, and economics is one among the driving forces of the company’s accomplishment. DAMAC Properties consists of about 2,000 employees today and is working on high profile projects in key cities around the globe. The attained prestige of the property giant can only be attributed to the DAMAC Owner, Hussain Sajwani. The billionaire tycoon has an added investment in Al Jazeera Services, which has a worth of over 110 million USD on the MSM.