Hussain Sajwani is an influential investor and philanthropist from the United Arab Emirates. It has taken Hussain four decades to amass a personal fortune estimated by Forbes Magazine to stand in at $4.4$. Today, DAMAC Properties has grown to become a behemoth entity working in close to a dozen Middle East countries.
What DAMAC Does
The firm mostly specializes in luxury and commercial property developments. The company’s portfolio has investments in other unrelated interests for instance, in the legal, finance, sales and marketing sectors. According to DAMAC’s Linked In page, the firm has a core staff of around 2,000 professionals.
Capital Markets Analyst
Hussain is a revered expert in the capital markets niche. In recent years, the Dubai-based billionaire businessperson has set up a venture capital firm called DICO Investments Co LLC. The VC firm has overseen several multi-million dollar M&A deals by Hussain and his team.
Rethinking Dubai’s Future
In the 90’s, the Emirates region witnessed a relaxation of the existing property ownership rules and regulations. The leaders hoped to attract foreigners and investors to boost the oil-dependent economies of the area. Hussain made quite the killing selling properties, mostly to western foreigners. In 2002, DAMAC finally went public on the London Stock Exchange raising millions in the process.
Here’s the financial report card of DAMAC Properties for the year ending 2016:-
- Market Capitalization $15.3B
- Total Enterprise Value $16.6B
- Earnings Per Share $0.6B
- Total Equity $12.6B
- Revenue $7.16B
- Total Debt $3.82B
DAMAC’s success is made possible by dependable and renowned suppliers. Here are some of the leading development partners associated with Hussain’s firm:-
LVMH is a luxury goods retailing venture. The establishment deals in selling perfumes, cosmetics, fashion apparel, wines, spirits, jewelry and designer watches.
- The Trump Organization Inc.
DAMAC owner, Mr. Sajwani got thrust into the limelight in the early days of the Trump administration. Many folks didn’t realize just how close the UAE business person was with the incoming president. That was until the Hussain Sajwani family got a special invite to usher in 2017 with the new president.
- Drake & Scull International LLC
DAMAC relies on this engineering and architecture firm for a myriad of core activities. Drake & Scull provides comprehensive support for DAMAC’s foremen building the apartments and the five-star hotels in the ME and beyond.