The billboards disappeared. Constructing new developments stopped. The sales reports reported low numbers that no hard-working and founder and chairman wishes to see for his company. But this is exactly what Hussain Sajwani felt in 2008 when the real estate market crashed.
Hussain Sajwani now looks back on his time when he had to call on the memories and lessons his father taught him as a young boy about business. His father being a businessman instill customer service principles into his son very early on in life. It was these teachings his father instilled in him that allowed him to preserve enough to rebuild Dubai‘s fourth largest company.
The real estate developer began venturing with real estate in 1996 with what would become the fist of five star hotels. Back then his business model was “Buy, lease, sell. Next, next, next.” This business model that scaled him to success would be the same business model that would turn DAMAC around.
Once Hussain Sajwani implemented his business model into the rejuvenation phase of DAMAC, the company raised hundreds of millions dollars. This capital rebirthed the company. The company expanded its real estate dealings into foreign land. The company worked on projects for major companies like Paramount and Trump Developments. The company had prjects popping up all over the Middle East. With the company getting back on its feet, a couple of new business practices. Now the finances of the company are looked at on a weekly basis. New IT systems have been streamlined into the business.
Today, the business mogul eyes his many golf courses, tall towers of Dubai and future plans of expansion. He is rather proud of his struggle and how he was able to take his company from the depths of despair to being the first Middle East real estate company to be listed on the London Stock Exchange. Although the company has had great success, Hussain Sajwani has huge plans for his company. He wants to expand DAMAC into Asia and the Americas. With his recent dealings, he has the capital to turn his dreams into reality.