DAMAC Properties is a well-known company in the UAE that specializes in the development of high-end properties. It is known for some expensive stunts such as offering a free Bentley for every luxury apartment purchase. Besides that, the company is into designing golf courses. It is the company behind the development of golf courses for Trump’s company in the Middle East. Read more: Hussain Sajwani Interview | Crunchbase
Hussain Sajwani Still Remembers His Roots
Hussain Sajwani’s career began in the food industry. He even has a plaque that commemorates the good work that he did for the US armed forces during the first Iraq war. During operation Desert Strom, he was in charge of supplying food to personnel serving in the US military. Learn more about Hussain Sajwani: http://www.nbcnews.com/news/world/dubai-billionaire-hussein-sajwani-ready-do-more-deals-trumps-n695566
Besides Iraq, he has helped the Americans in many other places such as Bosnia, the Gulf, and Somalia. Hussain Sajwani’s food business is still in existence today. However, it has been cut down to allow DAMAC Properties to concentrate mainly on real estate.
Hussain Sajwani’s Talent
Hussain Sajwani’s talent is his ability to make friends with almost anyone. It is a skill that has been acquired throughout the course of his career. It has given him access to some of the most astute businessmen on earth such as Donald Trump.
Hussain Sajwani has combined his good people skills with his great business skills to take advantage of the property market in the UAE. Besides that, he plans to take DAMAC public through an IPO at the London Stock Exchange. With the IPO in its initial stages, he cannot divulge too much.
About DAMAC Going Public
However, Hussain Sajwani has said that DAMAC is not in a hurry to offer the IPO. One reason for this is that they still have quite a lot of cash. Their debt/equity ratio stands at only 10 percent.
However, the DAMAC owner does acknowledge that an IPO would provide his company with some cash for expansion. Although he has refused to speculate about the value of the IPO, some experts put DAMAC’s capitalization to be in the single digits billions area.
DAMAC Properties began to emerge in 2002 to take advantage of the real estate opportunities in the UAE. Since then, it has expanded into much of the Middle East.