Hussain Sajwani, the fourth richest man from the Middle East has spent the last three decades building his empire in the real estate sector. He was born into a middle-class family but defied all odds to rank among the elite in the Arabian country. He is the owner of DAMAC Properties, a company that has dominated the real estate sector in the Middle East since the wake of the New Millennium. But Hussain’s path to success wasn’t that easy; it was filled with challenges that he worked hard to overcome and emerge victoriously.
Hussain Sajwani is the eldest son of Ali Sajwani, a renowned businessman in Deira. Hussain was his father’s favorite. He started accompanying his father to the family shop from a young age. Hussain notes that interacting with his father in his shop helped to nurture his entrepreneurial spirit from a tender age.
He attended the University of Washington in the U.S where he studied Economics and Industrial Engineering. He then returned home and he was employed as a project manager in an Oil and Gas company. But a burning desire to venture into entrepreneurship could not let him continue working at the company. He quit his managerial job and founded his first business venture.
Hussain’s first business was in the catering field. He founded the Global Logistics Services, a catering company in 1982. The company performed extremely well with a huge market in Africa, the Middle East, and the CIS. In 1996, Hussain Sajwani decided to venture into the real estate market by developing his first five three star hotels. His first real estate project was a big success and it opened a way for other bigger projects.
In 2002, Hussain Sajwani took advantage of the government’s decree of allowing expatriates to have a 99-year property lease in Dubai. He established the DAMAC Properties, a company that has played a huge role in the transforming the skyline in the Middle East countries.
Recently, the DAMAC owner attended an interview with the ideamensch where he opened up about his personal life and business. One of the key things that the DAMAC Owner emphasizes in the interview is that both success and failure are part of the journey. When you fall, pick up yourself and carry the lessons with you into the future.