Hussain started DAMAC as a catering service offering organization in the 1980s. In 2002, he realized that his future was in property as Dubai was at a six-year boom in real estates. He previously had some hotels in the mid-market developed in Deira. Hussain Sajwani, the Damac Owner, managed to hold the company together during the challenging economic times in 2008 by lowering the cost. The three principles that keep DAMAC going are ensuring that it is debt free and their accounts are independent. At the same time, their cash reserves are retained. Hussain says that he considers succession only that his son to too young to handle business at the moment.
Damac Properties is a public company founded in 2002 by Hussain Ali Habib Sajwani. Dubai is its headquarters, in the United Arabs Emirates. It deals with construction, engineering, real estates, and architecture. It develops commercial, residential, and leisure properties in the Middle East and Dubai. The company has also started dealing with projects on the golf course. Sajwani points out that Damac started as a food service offering organization for the American army in the 1980s during Desert Storm operation in Iraq’s war one in 1991. He clarifies that the food business is still a part of Damac.
Relationship between Donald Trump and Hussain Sajwani
Billionaire Hussain Sajwani wishes that his business relations with Donald Trump’s firm on real estate will be enhanced. He points out that their business relationships should not be affected by the fact of Donald Trump emerged victorious as the president of the United States. Both Trump and Hussain worked together in realizing the luxurious Trump International Golf Club. Hussain hopes that Trump’s children who he says are well involved will work together with him in maintaining, growing, and expanding their business relations. Hussain recalls that before elections, Trump said that if he won, he would leave their business sector to his children to manage. Both the Hussain Sajwani family and Trump’s family enjoy strong and friendly ties and they visit each other from time to time. Sajwani hopes to receive a business boost after Trump’s election as president.
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