With a net worth of 2.7 billion dollars, DAMAC CEO, Hussain Sajwani is among the top ten richest Arabs on the planet. He has made his wealth from among other ventures, DAMAC Properties, a Dubai based luxury real estate company which he founded in 2002. Currently, DAMAC is one of the largest real estate development firms in the Middle East, having extended their operations to other GCC member states like Qatar, Jordan, Lebanon, and Kuwait. The company also made its debut in the UK after landing the deal to construct AYKON London, a luxury homes project which they created in partnership with Versace Homes. Hussain also teamed up with Donald Trump in 2013 to create the exquisite Trump International Golf Course in Dubai, and now, he says that the next step in his entrepreneurial strategy, is China.
DAMAC Owner, Hussain, observes that even though DAMAC has had a presence in the Asian economic powerhouse, there is still an opportunity for growth. For the past few decades, China’s economy has been growing exponentially, and their middle class has expanded, leading to more people with higher purchasing power. Being the excellent entrepreneur that Hussain Sajwani is, he sees the opportunity to tap into these additional investors.
How is DAMAC doing Regarding Diversity?
Sajwani confides that one of the vital ingredients that have fueled the growth of DAMAC is the way that they embrace diversity. When a company has employees from more than 77 nationalities, you can expect a comprehensive worldview which puts them ahead of the competition in meeting the needs of their clients.
How is DAMAC able to navigate the current political and economic turbulence and maintain their success?
The DAMAC Owner reiterates that with the current trade wars, geopolitical instability, flux exchange rates and the emergence of a new demographic, it may feel a little overwhelming to try and stay afloat in business. But he states that he only minds the politics which directly affect his organization.
Hussain Sajwani concludes by saying that entrepreneurship always came naturally to him and that long before DAMAC, he had started other ventures with varying levels of success. The DAMAC Owner has a vision that in the next five years, his business will be a global success.