Hussain Sawjani is the Chief Executive Officer (CEO) and Chairman of the DAMAC Properties Dubai Co. The company, founded in 2002, focuses on the development of commercial, leisure and residential properties, as well as investing in other real estate projects. The company is located in Dubai, the United Arab Emirates.
The DAMAC owner, Sawjani, hopes to enhance his business dealings with the Trump Organization. Trump and Sawjani have collaborated on projects such as the Trump International Golf Club. Now that Donald Trump is the President of the United States, Sawjani expects to work with the Trump children – Donald, Jr., Eric and Ivanka. Mr. Sawjani sees the association continuing because the three have been very involved in the family business, Sawjani sees no problem maintaining a relation with the Trump Organization and even expanding their association.
The food service business is still part of the DAMAC brand. The company provided food service to the United States Army during the Desert Storm conflict. There is a plaque recognizing the effort in Dubai and Sawjani is quite proud of that recognition. The food service entity is a reminder of Sawjani’s first business venture and the relations he was able to cultivate on an international scale. Using that knowledge as a foundation, he has propelled himself to greater heights in the business world.
As a result, Sawjani has been very effective in dealing with and providing development services as United Arab Emirates are recovering. He is also considering offering shares with the London Stock Exchange as a possible IPO (initial public offering). The cash from such a sale will provide for expansion purposes, but the value of such a sale has been determined.
The business model for DAMAC Properties is based on three principles and includes paying for land up front, keeping escrow accounts separate and keep cash reserves in government bonds or fixed deposit accounts. The practice makes sure projects are self supporting and in the event the development and construction industry turns, the projects can continue.
The Hussain Sajwani family would like to expand into other areas of the Mid East such as Saudi Arabia. There is an interest in Jeddah and Riyadh as potential development areas while other parts of the Mid East, such as Syria, are seen as politically difficult at this time.
To learn more, visit http://www.damac.com/.