Forbes Names DAMAC Owner Sajwani as the 4th Richest Arab In The Globe

Forbes released their 2018 rankings from the richest individuals in the globe. On that list, one Hussain Sajwani is ranked the fourth riches Arab with a net worth of 4.1 billion dollars. Other than being ranked by Forbes, Hussain Sajwani has marked his influence by associating with some of the most influential individuals on the globe including President Donald Trump of the United States with whom his family celebrated New Year’s Eve together. These two high profile individuals have partnered in the development of the Golf Courses in the Middle East that are under the management of the president Trump administration and were developed by real estate developer Hussain Sajwani’s company called DAMAC properties. The two are set to collaborate in more projects once the president has completed his term.

The background and career of Hussain Sajwani

DAMAC Owner Hussain Sajwani was born in the year 1952 in United Arab Emirates’ Sharjah town. Through hard work, Sajwani was able to get a government scholarship that saw to his studies in the United States’ Washington University where he got his degree in industrial engineering and economics.

In the year 1981, Sajwani began his career working at the Abu Dhabi Gas industries department of finance. Two years into the job, he began a solo business venture that involved catering to the military of the United States and the Bechtel. With the money he made from this business which currently goes by the name Global Logistics Services, Hussain Sajwani began investing in real estate and developing properties in different parts of the Middle East. This venture proved profitable, prompting him to start DAMAC Properties in the year 2002. Since then DAMAC Properties has grown to become one of the leading property development firms in the Middle East with more than twenty thousand complete apartment projects and units under different phases of development. The company is famous for working with Tiger Woods on the Trump Golf Course projects, developing apartments whose interiors were designed by famous fashion brands like Fendi and Versace as well as villas designed and styled by Bugatti.

DAMAC Properties also runs the DAMAC Foundation that sponsors other charitable foundations in the United Arab Emirates and other parts of the Middle East

Additional source: https://analystoffinance.com/2018/05/damac-owner-hussain-sajwani-re-built-dubais-real-estate-market/

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