Hussain Sajwani is a Dubai-based billionaire investor and the owner of DAMAC companies. He recently stated that he is ready to enhance a business relationship with U.S. President Donald Trump’s firm, The Trump Foundation. So far, DAMAC and Trump Foundation have partnered on the development of Trump International Golf Club based in Dubai. The club’s luxury villas have sold for almost $2 billion.
Hussein said that he was pleased to work with Trump and his children (Ivanka, Donald Jr., and Eric). He noted that they were not only quite protective of their brand but also had great leadership qualities. He added that if Donald Trump won the U.S. election, he would have to leave the management of his business to his three children.
Hussein Sajwani brushed off concerns about his close relationships with Dubai’s elite and the next U.S president. He reiterated that he was a businessman and had no political positions in the Middle East.
Hussain Sajwani is the founder and owner of DAMAC Properties, a real estate development company based in Dubai, United Arab Emirates. He started the company in 2002 after the Dubai government decreed that foreigners were allowed to own property in the Emirates. He was able to sell his first residential property, a 38-story building, in under six months. The firm relied on off-plan sales, which helped it grow and develop into a premier real estate developer.
Sajwani has not always worked exclusively in the real estate industry. His brand, DAMAC, has vested interests in numerous industries including the food industry. As early as the 1980’s, Hussain Sajwani and his company, DAMAC, had secured U.S. Army contracts to supply its soldiers in Iraq with food. He, however, states that the catering business did not have high returns compared to real estate.
Hussain Sajwani has cultivated numerous global contacts in high places. He revealed that he foresaw the 2008 global recession and tried to protect his interests by carefully husbanding cash, cutting costs, and applying strict measures on buyers experiencing payment difficulties. Today, DAMAC is poised to take advantage of the booming Dubai real estate market.