DAMAC Properties was launched in 2002. The DAMAC owner is Hussain Sajwani who still remains the majority shareholder of this now publicly traded company. They build luxury real estate projects in Dubai, United Arab Emirates, and other major Middle East cities. They have also expanded into the United Kingdom and have some projects under development in Europe. DAMAC Properties is known for having a passion for great design and excellent build quality. This brand has been called iconic and has developments in some of the most desirable neighborhoods in the world.
As the DAMAC owner and Chairman, Hussain Sajwani guides where developments will be built and approves the overall designs. Some of his luxury properties are DAMAC Hills, Reva Heights, Dubailand, and AKOYA Oxygen. The latter two properties have 18-hole golf courses as part of the package, one of them designed by none other than Tiger Woods. In addition to homes, these properties also include many other amenities. The developments include schools and nurseries, luxury spas, hydroponic café, luxury retail stores, entertainment, and five-star hotels among other options.
Hussain Sajwani grew up in Dubai and is a graduate of the University of Washington. After moving back home he became a contracts manager at GASCO but he soon left so that he could pursue his own path. He launched a catering venture in 1982 which is still going strong and is now international in scope. He first entered the real estate industry in the middle of the 1990s when he built a number of hotels which were designed for international businessmen doing work in Dubai.
He first became the DAMAC owner when he saw an opening in the residential real estate market. The monarch of the UAE decided to allow foreigners to buy real estate in his country for the very first time in 2002. Hussain Sajwani saw the huge potential this entailed and so launched DAMAC Properties. He is an expert when it comes to marketing, sales, property development, management, and operations. His company now employs almost 2,000 people and was listed a few years ago on the Dubai Financial Market.
Article reference: albayan.ae/economy/local-market/2016-04-27-1.2627119