Hussain Sajwani Capitalized on Opportunity
Hussain Sajwani learned how to work by working after school for his father in the family variety store in Dubai. He had to work long hours which did not suit his demeanor and he let his father know it. He swore that he would not grow up as a self-employed businessman because the hours were too brutal. It would be much better to become a professional with a degree so his hours would be more reasonable.
Hussain did earn a degree and worked for a short time as an engineer for an oil company in Dubai, but his wish to be a professional was not to be. Hussain followed an opportunity and established a catering company that served food to the United States Army during the two Gulf wars. The operation was a great success and the company is still in business at the present time.
In 2002, Sajwani started a company called DAMAC Properties, a real estate development firm. At the time, the UAE had decreed that immigration restrictions for foreign nationals had been lifted, allowing foreign nationals to move to the country. Sajwani correctly forecasted a real estate boom and he wanted to be ready.
One talent that Sajwani has is that of promotion and marketing skills. He quickly got the attention of the buying public with his saturation marketing techniques. His signs and placards were everywhere. One of his favorite slogans stated that there would be a Bently given to the buyer of each apartment. That certainly got the attention of everyone.
The DAMAC owner had success on his very first project as it was all sold out way before the construction got started. DAMAC was becoming the Hussain Sajwani family security for the future right from the very beginning.
Hussain Sajwani uses some very basic business tactics that ensure success again and again. He always pays cash for the purchase of the land. A very small portion of the construction is financed, if at all. Each project has its own bank account and its own accounting so that if one project goes bad the rest of the business will not be affected.
Connect with Hussain Sajwani on LinkedIn.