DAMAC Group is associated with many high-end developments in the Middle East. Recently, the company hit the headlines for its partnership with Donald Trump’s company. The partnership resulted in the development of luxurious properties, including the Trump International Golf Club Dubai. In addition, the UAE-based company engages in other fields such as the hospitality industry.
Hussain Sajwani is fond of the company’s humble beginning. The 57-year-old talks about the company’s first business activities like it were yesterday. The company started operations by serving as a food service company to the United States army during the Operation Desert Storm. Its outstanding services in the campaign saw the company receive a special plaque marking from the army. It also earned the company the opportunity to continue providing its services to soldiers involved in other operations. DAMAC Group worked alongside major American companies like Bechtel in Bosnia, the Gulf, and Somalia.
Twenty six years later, food business remains an integral part of DAMAC Group. The business is a testimony to Hussain Sajwani’s business expertise and his ability to make friends on an international scale. This ability is still conspicuous even today given his partnership with Donald Trump. Over the years, the president’s family and Hussain Sajwani family have maintained cordial relationships. The depth of this friendship was proven when the DAMAC owner received a special mention during this year’s New Year Eve speech, which was made by President Trump. Hussain Sajwani and his family were invited to the diner party that was hosted by the American president.
Although DAMAC Group suffered after the 2008 economic crisis, the recovery of property prices in UAE helped the company to recover and start working towards making more investments. Hussain Sajwani plans to take advantage of the boom and oversee the company’s initial public offering (IPO). The shares will be publicly traded on the London Stock Exchange. However, the business leader is not saying much about the planned IPO. Hussain Sajwani does not talk about the IPO saying that it is premature given that experts are yet to finalize on its planning.
DAMAC joined the real estate industry during the boom of 2002. This is because of the influx of wealthy visitors from the Soviet Union. Hussain Sajwani knew that he needed to capture such clients in order to succeed in the business. He began developing top-of-range properties and marketing them aggressively. Over the years, he has managed to expand DAMAC Group’s operations in the UAE, Saudi Arabia, Lebanon, Turkey, Egypt, and Qatar.
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