DAMAC OWNER: Hussain Sajwani

He ranks as the richest billionaire. Hussain Sajwani has upped his wealth from $3.7bn to an astounding $4.3bn in just a mere six months. The DAMAC owner, who company’s shares soared after Donald J Trump took the White House, has become more richer than ever before in the UAE. With his golf partnership along side the Trump Organization, Hussain Sajwani’s fortunes continue a steady rise and don’t seem to be stopping anytime soon. It’s his first business venture with Trump that was made by in February. The Damac Hills mega project was the place the business deal was affirmed.

The Dubai Financial Market reports that a spike from DHs2.69 in January has moved to Dhs3.4. for November. Hussain Sajwani is one of the richest men in the entire world as described in Forbes Magazine. While at the Barsha Heights main headquarters, the DAMAC owner says that 2017 was good and stable. He had expectations for it going beyond target sales and even further by year end of December 31. Hussain Sajwani says with the forecast of going for Dhs7bn in sales, he knew it would go much further than that projection. They are currently on spot and exactly where they expected to be.

According to albayan.ae, Hussain Sajwani is very optimistic and has successfully moved Damac into a full swing turnaround. He started in the catering business prior to discovering the company way back in 2002. While working at Draieh Management Services Company, he saw the great opportunity to bring in foreign investors to the Dubai real estate market. At that time many developers took their time and laid low due to the 2008 real estate burst. They watched as the market dropped by 60 percent.

The Damac owner relies, as he states, “heavily on delivery.” The goal was to give 50 per cent of units to peers in the recovery of 2010-2011 prior to the launch of their initial projects back in December 2012. The movement soared to 2013 and they began a 42-million square foot Akoya, known as Dama Hills. This is an exuberant development that has branded mansion, apartments and villas.

My source: http://www.akhbarak.net/

Leave a Reply

Your email address will not be published. Required fields are marked *