DAMAC Owner Hussain Sajwani: Luxury Real Estate Developer and Trump Friend

Hussain Sajwani, 65, is the Chairman of Damac Properties, a real estate development firm. Damac’s focus has been on luxury residential developments. Sajwani’s firm also developed two Trump-badged golf courses in 2013. Sajwani has a flair for the dramatic, at times revving up excitement for new residential projects by offering an exotic car as an enticement to luxury apartment buyers.

Though his name now appears on Forbes Magazine’s list of billionaires, Hussain Sajwani’s first business venture was not quite so splashy. Sajwani’s started in the food-service industry. Sajwani’s catering business serviced energy firm Bechtel’s employees throughout the Middle East. Feeding US Military forces during Desert Storm was one of his first big contracts. His food business went on to work for the US in Bosnia, Somalia, and the Persian Gulf.

When Hussain Sajwani founded his luxury real-estate-development firm (Damac) in 2002, he brought his food company along, and it remains a part of his business empire. Damac became a publicly-traded company in 2015.

Damac came through the 2008 crisis in excellent shape. Sajwani trimmed his sails decisively at the first sign of an ill wind. When considering the possibility of IPO (in 2013) Sajwani made it clear that Damac was financially sound and had cash on hand to fund its all its operations. He indicated that on the plus side, an IPO might allow for more rapid expansion and that it might allow the family to pull some money out of the company

Sajwani apparently enjoys a good working relationship with not only Donald Trump, but his three children, Eric, Don Jr., and Ivanka. Sajwani’s wife and Ivanka are said to be friends. Sajwani said his business relationship with Trump was warm, not just a hard-nosed working partnership. Sajwani has been a guest a Trump’s New Year’s Eve party at Mar-a-Lago and attended President Trump’s inauguration.

Charity is an integral part of Hussain Sajwani’s life, and he is particularly vulnerable to pleas to help the needy during Ramadan. In 2013, in response to an appeal from His Highness Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai, Sajwani contributed AED 2 million to a Red Crescent campaign to clothe the world’s needy children. See Sajwani’s career history here.

Twitter: @hussainsajwani

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