In 2002, Hussain Sajwani established DAMAC Properties firm after a new Dubai government verdict that allowed outsiders to own properties was issued. Sajwani further succeeded to sell off his first 38-story residential building in just six months.
DAMAC Properties allied with Trump to develop two Trump-branded golf courses. One was opened in February 2017 at DAMAC Properties’ Akoya residential development based in Dubai. The other, Trump World Golf Course (designed by Tiger Woods), will be launched officially in a different DAMAC Property development by late 2018.
DAMAC Properties is a UAE firm located in Dubai. It handles property development, appealing market exploits, and now a popular golf course project with Donald Trump. Today, catering is still part of DAMAC Group’s operations since the service reminds Hussain of his first business enterprise and his ability to nurture friendships across the world. As the firm continues to develop, Hussain insists on applying his past skills to help in the recovery of UAE property prices.
DAMAC Properties’ chair praised the firm for its resilience in overcoming crises through cautious husbanding of money, controlling costs, reining in some projects, and applying strict measures appropriately. Further, he mentioned that DAMAC Properties is based on three principles: land should not be held on debt, escrow accounts should be autonomous, and that cash reserves should be retained by the firm in either fixed accounts or government bonds to support construction schedule in case of an overturn in the market.
The Association of Hussain Sajwani and Donald Trump
The real estate developer is aiming to advance his business relationship with Donald Trump’s The Trump Organization. Sajwani further told NBC News about his close ties with Trump, which extended towards the president-elect’s family. On New Year’s Eve, while celebrating his elections victory at his Mar-a-Lag resort in Florida, Mr. Trump praised his Dubai-based business partner and his entire family.
Hussain Sajwani’s Generosity
Hussain Sajwani handed a cheque worth AED two million for a campaign to clothe a million needy children worldwide. The Ramadan initiative was launched by the UAE’s VP and Prime Minister His Highness Sheikh Mohammed bin Rashid Al Maktoum – who also happens to be the leader of Dubai. He made the donation as part of the company’s support of the Dubai government to improve the living standards of people globally. Additionally, the firm’s donation will offer clothing and warmth for over 50,000 deprived children.