When Hussain Sajwani was a young boy in school in Dubai, his father made him work in the family clock shop until all hours of the night. He figured that after he graduated from high school he would go to college and learn a profession so he could work regular hours. His desire to be a business man was nil,
However when he discovered a source for cheap candy, he bought up a bunch of it and resold it to fellow students for a good profit. His eyes were opened to entrepreneurship.
Hussain graduated from the University of Washington in Seattle with a degree in engineering and took his skills back to the Middle East to work for an oil company. However when the Gulf wars broke out, he started a catering company that fed the US Army and other contractors during that conflict. The catering business is still a part of Sajwani’s overall business operations to this date.
When the UAE decreed that foreigners would be allowed to settle in the country, Hussain saw another opportunity. At this point he established his real estate company, DAMAC, LLC. The DAMAC owner bought up some vacant land in a part of Dubai that was unoccupied and promoted a new, luxury apartment project. The entire project was sold out completely within six months and construction had not yet even begun.
Sajwani became known for his flamboyant marketing techniques such as, “A Bentley For Every Apartment.” Today, he has real estate projects all over Dubai and many other countries as well, and his net worth is in the billions.
Sajwani has a proven system that fuels his real estate success. First of all, he pays cash for the land for his projects. That way he will always be there on solid footing. secondly he never finances a project for more than 20 percent. He holds money in reserve for construction on each project, and each project has its own banking and accounting, so that each project stands on its own. There is no transferring of funds between projects. This formula is a safeguard against economic fluctuations, as the economy will change from time to time.
The Hussain Sajwani family has also become very involved in the business as well, as the company continues to expand.
To learn more visit http://hussainsajwani.com/.