Hussain Sajwani is the founder of DAMAC properties, established in 2002, and remains the chairman to this day. DAMAC Properties is unrivalled in luxury accommodation and is based in the United Arab Emirates. However, it has a foothold in countries across the globe, including the Gulf Cooperative Council, the Middle East and the UK. The DAMAC owner has numerous other investment projects outside of DAMAC properties.
The 16 year old company has established a reputation for the best quality luxury real estate. DAMAC Properties has over 44,000 units worldwide and Sajwani was able to keep his company alive during the 2008 financial crash, retaining his portfolio while most other developers went bankrupt. DAMAC Properties is viewed as the leading luxury real estate development company in the Middle East and is a publicly listed company. It has nearly 2000 employees. DAMAC Properties is not limited to residential real estate and has a large portfolio of recreational and real estate development projects. This include the Trump International Golf Course Dubai as well as the DAMAC Towers featuring 1,200 hotel apartments, a business center, and a shopping plaza. DAMAC apartments and hotels often features interior designs from Versace, Paramount and Bugatti.
Nine Elms Property Ltd
Nine Elms Property is a joint project between DAMAC International Company and DAMAC Properties Dubai Co PJSC, split 80% and 205 respectively. Hussain Sajwani is the sole owner of DAMAC International Company Limited. Nine Elms Property Limited is set to become London’s tallest residential building as well as one of the most prestigious addresses in the area. This is no small feat given that prices in London are prohibitively expensive. The South China Morning Post reported that Nine Elms Property was a bargain and that strong growth can be observed year on year. Former London Mayor Boris Johnson referred to it as “The last and greatest single prospect for regeneration in Central London.”
AYKON Maldives Resort
The AYKON Maldives Resort development is owned by Hussain Sajwani himself through his own company, DAMAC International Company Limited. The development features a 5-star hotel with over one hundred luxury suites, villas and bungalows. The resort is in the development phase, but will offer the finest dining experience, world class spa and fitness facilities, and entertainment amenities.
Mina Al Sultan Qaboos
Mina Al Sultan Qaboos is a joint development between the Oman government and DAMAC International Company Limited. It is currently being redesigned to a $1 Billion development as an integrated tourism destination and high end living area with a number of attractive hotels, leisure amenities, and dining outlets. According to Hussain Sajwani – “This historic agreement reflects the vision of His Majesty Sultan Qaboos bin Said to transform Oman into a world-class tourism and investment destination”
This was one of Hussain Sajwani’s earlier investments, established 10 years before the DAMAC Properties empire would unfold. This is also the chief investment arm of Hussain Sajwani, created in 1992. Investments are divided into four key sectors – strategic holdings, subsidiary ownership, long term bank investments and regional debt ownership. DICO Investments is incorporated in the UAE and operates in the financial sector, providing conventional and Islamic direct investment in a number of different industries.
Al Anwar Ceramic Tiles Co
The DAMAC owner is also the chairman of the Al Anwar Ceramic Tiles Co, the biggest producer of ceramic tiles in Oman. This was another pre-DAMAC Properties investment, built in 1998. The best tiles in the world are brought to the regional market and can be used for other development projects. These tiles are featured in some of Sajwani’s luxury real estate properties.
Al Amana Building Material
Hussain Sajwani is the leading shareholder in this project and like Al Anwar Ceramic, the company has a reputation for providing the best building products made from the finest materials. Al Amana Building Material extends past tiles towards a variety of building products for floors, surfaces and bathrooms. The company is able to bring well recognized brands to the area, making them accessible to customers in the region.
Al Jazeira Services Company SAOG
Hussain Sajwani remains the majority shareholder of Al Jazeira Services Company SAOG. Al Jazeira is listed on the Muscat Securities Market and its stated values are to focus on effective management practices and increasing shareholder value.
The DAMAC owner, Hussain Sajwani, has further plans to develop gateway accommodation outlets in major hubs across the globe, including London, Singapore and Manhattan.