One of the leading businessmen in the United Arab Emirates who has helped in transforming the real estate landscape of the country and the region is Hussain Sajwani. Since the early 2000s, Hussain Sajwani has been highly active in the real estate sector after he formed the Damac Properties, which has gone on to become one of the largest real estate company not only in the UAE but globally as well. The company has operations in many other countries other than the UAE, including in the United States, United Kingdom, Turkey, Lebanon, Saudi Arabia, South Africa, and a few other countries. Hussain Sajwani has contributed heavily to the real estate sector through the innovative commercial and residential projects that Damac Properties has developed.
According to Watanserb, as Damac owner, Hussain is always focused on finding new business and expansion opportunities. It is why he continues to develop new properties in different parts of the world that strategically place. It helps the company to boost its revenue as well as strengthen its grip on the international real estate space. Hussain Sajwani studied economics and industrial engineering from the Washington University in the United States and worked for an oil and gas firm named GASCO for a couple of years as a local contractor. However, he left the job soon to start his catering firm that he named Al Jazeera Services. Even while his catering firm was booming and growing consistently, he moved back to Dubai as soon as he heard that the government had passed a decree that would allow the foreigners to buy land and properties in UAE. More details can be read on his website.
Hussain Sajwani knew that with this decree having passed, it would become much more comfortable to attract foreign investments. Tax liabilities on the purchase of land in the country would also decrease drastically. It is how he became the Damac owner and started his real estate firm. The first purchase of land he made after moving back to Dubai was in the suburbs of the city where he planned to build a luxurious residential complex. He managed to sell the entire project in just a few days even before the first brick was laid on the land for construction.
More details: http://uae.argaam.com/article/articledetail/625283