Hussain Sajwani is a renowned contributor to the boom of the real estate industry in Dubai. He has been very instrumental in the success of most of the real estate projects in the country. In the given film TV interview after the World Economic Forum, the DAMAC owner gave a recount of how his success and current zeal in commerce has been built up since he was young.
He begins by explaining how his father assisted him to build the business by having been going to his (father’s) shop since when he was eight or seven. Let’s now see how Hussain Sajwani built himself up in real estate and some other business ventures.
Since these childhood encounters with his father who was also a great businessman, Hussain Sajwani says that he has since developed economic thinking over the years. The DAMAC Owner also indicates that he has a restless psyche in business and very quickly adapts to the prevailing market conditions since he easily learns any emerging trends.
This kind of zeal has seen him get ranked the tenth wealthiest Arab. After completing his studies at the University of Washington, Hussain Sajwani started to think his career course seriously. He began with the Abu Dhabi Gas business venture, and by 1996 the DAMAC Owner made his way to what raised him to success. He built the first five 3-star hotels in Deira.
Despite the fact that Hussain mainly ventured into real estate property, he also reveals how he has had some investments in the stock market. He surprises the interviewer by citing that these investments gave five times more returns that his real estate investment between the years 2002 and 2006.
He then did put all these stock market returns to his real estate. The DAMAC owner then also gives a review of the great fall that his property business undergone. He says that he, fortunately, saw this crisis coming.
The crisis subjected the business drop to about 60% per year. In 2013, the business got restored and recorded a great success by gaining up to $379m. Hussain Sajwani then got into the idea of continuously doing projects. He finally states that real estate is a business in a circle, today rising – tomorrow going down.