Hussain Sajwani started is known for his food service expertise when he supplied the U.S. Army during the first Gulf War, and today the Hussain Sajwani family is getting into real estate in a big way in the UAE. Sajwani feels that the future hold promise in real estate and he put his money on the line to prove it.
Recently the UAE opened up the investment channels to foreigners, and Sajwani took advantage by purchasing raw land in the outskirts of town and built his first highrise apartment structure which had high volumes of sales withing six months of building. Sajwani is also known for his business dealings with Donald Trump, which began before Trump ran for the Presidency of the United States.
Trump and Vijay Sajwani have partnered together to build two Trump designed golf courses, and they are also a hit. The Damac owner, Sajwani is very pleased to be working with Trump, and although Trump has put a halt to being involved, Sajwani claims that it is business as usual as he deals with the Trump children who are actively running the business while their father is President.
In the early part of 200s, Sajwani had “dabbled” in some mid-range Dubai real estate, establishing some hotels in the area. That was at the close of the Soviet Union, and there were influxes of Soviet citizens coming to Dubai. However, with the establishment of Damac, it was anything but midrange as Sajwani went full speed ahead and began to build top of the line, luxury hotels, and properties. Learn more about DAMAC owner: http://www.hoteliermiddleeast.com/23813-the-rise-and-rise-of-damac/
The formula for success is simple according to Sajwani. First, there is no debt for the land, as it is always paid 100 percent upfront. Secondly, escrow accounts are independent and stand alone, supporting themselves. Thirdly, cash reserves are retained, either in government bonds or fixed accounts so that if the market goes south, there will be money to finish construction schedules.
Sajwani is proud of the fact that Damac and his organization is ahead of the curve and is already set up for success. By careful attention to details and political winds, Sajwani feels he and his company are in a good position for the future.