When Husain Sajwani was still a student he worked for his father in the family variety store in Dubai. He worked very long hours and complained but gained valuable experience in regard to working with people and working hard. Even so, he told his father that he would never be a businessman because the hours were too long.
It was during this time as a student he came across an opportunity to purchase a large quantity of candy at a great price. By selling the candy to his fellow students, he made a nice profit. According to Property Finder, this experience had much to do with his later decisions to continue towards more entrepreneurial pursuits.
Husain did receive a degree and after a brief job as an engineer at a gas company in Dubai, he founded a catering company that sold meals during the Gulf War to the US Military. This turned out to be an exceptional business Ashe earned big profits and made key acquaintances throughout the region who would be of great help later in his career.
Sajwani formed DAMAC Properties, Inc. in 2002 to accommodate a ruling by the United Arab Emirates which allowed non-citizens to buy property and live in the UAE. Sajwani anticipated a real estate boom and he wanted to be in a position to capitalize on it. His marketing and promotional talents came into play and people clamored for his high-end luxury apartments.
One of Sajwani’s most effective slogans was “A New Bentley With Each New Luxury Apartment.” It was very effective as he sold out completely his very first project prior to the beginning of any construction. His strict business practices of paying cash for land, cash reserves for each project, separate bank accounts and accounting for each project went a long way towards solidifying the business.
Today DAMAC has property all over the Middle East as well as in London and Paris. Sajwani has partnered with Donald Trump by installing Trump golf courses at several DAMAC resorts. Of course, these transactions were made prior to the Trump presidency.
Sajwani is well-known throughout the region and is sought out for his advice and consultation in real estate matters.
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