Success and hard work are concepts that are understood very clearly by Mr. Hussain Sajwani, a resident of Dubai. The United Emirates Economy is considered to be a very viable for business. However, it is impossible to mention its success without making reference to personalities such as Mr. Hussain Sajwani. Middle East region boasts of unique infrastructure development that has created a favorable business environment. This atmosphere has been made possible thanks to the effort of people like the Damac owner Hussain Sajwani.
Being the CEO and owner of a Billion Dollar Company is not something that can easily be attained as it requires a great initial effort. Hussain Sajwani, who initially specialized in the food industry started out by purchasing a section of land that was undeveloped. His previous experience in marketing helped him sell 38 units of a building which had not even started being built. As time passed by, he saw the greater opportunity that existed in the real estate market. So, he ended up creating Damac Properties back in 2002. His company primarily specializes in Real Estate Development.
Hussain Sajwani did not start out as a successful business person, but he initially had to work for other firms such as the Abu Dhabi National Oil Corporation and GASCO. It is after graduating from the University of Washington that he ended up in the employment industry and worked for such big Companies. He eventually gained vast experience and skills which helped him to venture slowly into the real estate market. Currently, Damac Properties boasts of having employed over 2000 workers and having developed over 16000 houses.
Hussain Sajwani, a close personal friend to Mr. Donald Trump, has managed to set foot permanently in the real estate development industry. His friendship with Mr. Trump is also, somehow based on the different business undertakings of the two billionaires. Hussain Sajwani’s firm has helped in creating two golf courses for the Trump Organization namely; the Trump International Golf Course and Tiger Woods Golf Course that was also designed by Tiger Woods himself.
The Hussain Sajwani family is very united. Most of the time, he seeks the advice of his household. For instance, the advice that he got from his father was what partly propelled him to great success. His family is also very close to that of Donald Trump since it is evident that they spend holidays together. This closeness is an indication that their association is not entirely based on the businesses that they individually have.
Giving back to the society is something that Hussain Sajwani treasures. His Philanthropic character was exhibited, when he offered to provide food and clothing for the needy persons all over the world during the Ramadan period.
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Hussain Sajwani, the founder and CEO of Damac Properties, is acclaimed to be a key player in the Emirates real estate industry. As an investor and influencer of the industry, he has gone through high and low that have significantly affected his business. For instance, the 2008 economic recess severely affected the real estate industry. Despite these challenges, Sajwani has been able to build an empire that is influencing the industry in the region and across the world. In a recent interview with the Arabian Business, he illustrates his success story of how his business rose, fell, revived and the future.
The first questions revolved around his childhood. He contemplated that he started working at a very young age at his father’s shop. Although the shop may have been small, the experiences imbued ambitions in Hussain Sajwani. After spending time studying in the US, he returned to the Emirates in 1982 where he started his career in the gas industry. After two years, he ventured into businesses by establishing a catering company. In 1996, he started the Sajwani properties which constructed the first three-star hotel in Deira. The name of the company was later changed to Damac properties and continued to soar to greater heights until the 2008 economic crush.
Damac Properties had grown exponentially and dominated the market during the crash. It was apparent that the company would suffer immensely. The Damac owner indicated that he saw the crisis coming and immediately put measures to mitigate the situation. Although the measures slightly cushioned the business, it was very difficult that it took several months to get back.
Revival and the future
After the crisis, Damac Properties made a stunning comeback by raising an IPO in the London Stock Exchange. It was the first real estate company from the Middle East to list in the London Stock Market. The IPO raised over three hundred million dollars that helped the company get back to business. According to Sajwani, the company is looking at investing Aggressively overseas especially in Europe. His dream is to spread Damac properties across the world.
Jose Auriemo Neto heads the JHSF Participacoes SA as its chairman and chief executive officer. He is an alumnus of Fundacao Armando Alvares Penteado where he did engineering and also studied Business Administration from FACE. Through his leadership at JHSF Participacoes, the company has grown to be one of the top real estate companies. Mr. has been involved in all aspects of the business which has made JHSF develop some of the high standard buildings in Brazil. Jose Auriemo Neto joined the company in 1993 and became its CEO in 2003. He was very resourceful, and he established Parkbem, a parking lot management company in 1997.
Neto’s Accomplishments in the Real Estate
As a visionary leader, Jose Auriemo Neto established a department that was focused on shopping center development. He did this in 1998 by acquiring the rights to progress the company in the direction of shopping malls developments. This led to JHSF’s development of its first mall known as the Shopping Santa Cruz. The brand is also involved in developing other building facilities where its investments includes, an executive airport, classy hotels and restaurants, shopping centers, and real estate developments. Some of the renowned shopping malls that have been established by the company include Shopping Cidade Jardim, Shopping Bela Vista, Catering Fashion Outlet, and Shopping Ponta Negra.
What’s more, the company has even gone international to have developments of real estate beyond country. This has seen the renowned entrepreneur having to relocate with his family closer to where the business is to ensure perfection in work done. An instance is where he had to move with his family to New York for a six month period when JHSF was developing a skyscraper building on the Fifth Avenue in New York. Additionally, the company is responsible for some of the residential real estate in Uruguay known as the Condominium Las Piedras.