Damac Properties is the Middle East’s largest real estate developer founded on the 20th of June, 1976 by its current CEO and chairman Hussain Ali Habib Sajwani. DAMAC has its current headquarters in Dubai and is involved in developing properties used for commercial, leisure, and residential purposes. Hussain Sajwani started his career in GASCO, a subsidiary of the Abu Dhabi National Oil Company as the Contracts Manager after his graduation from the University of Washington. In the 1980s, Hussain Sajwani started his own catering business. During this time, he was involved in supplying food services to the US army in their operations in the Middle East and also to workers in Abu Dhabi energy sector.
Hussain was unsatisfied by the food business due to low-profit margins and decided to focus on the real estate business in 2002 after Dubai had a rise in real estate development. Hussain Sajwani got a head start in the real estate business since he had formerly developed several hotels in Deira which promised a lot of returns following a high number of visitors from the Soviet Union after its collapse and also from his family’s partial involvement in the real estate industry. DAMAC properties thus rose in 2002 with some top of the art developments and together with great marketing strategies gave it a significant boost.
In 2008, a crisis affected the company with sales dropping forcing DAMAC to apply new marketing strategies and eventually got through that period the following year. Unfortunate legal actions and complaints arose from the customers after the crisis, but Hussain still got through. DAMAC Properties has relations with the Trump Organization and has completed the Trump International Golf Club. DAMAC Properties has teamed up with Paramount Pictures to market a hotel project in Dubai. DAMAC has built luxury apartments with Italian fashion-houses Versace and Fendi designing the interiors. They have also made luxury villas with Bugatti as the stylists.
Hussain Sajwani as a philanthropist has given a check of AED two million to a campaign to clothe one million children around the world. DAMAC Properties in partnership with the Emirates Red Crescent has donated money to cover over fifty thousand needy children