The DAMAC owner Hussain Sajwani has become one of the world’s leading real estate investors on the back of his ability to gamble on where the next area of regeneration will be. In the late 1990s and early 2000s, Hussain Sajwani began lobbying for a change in regulations allowing foreign investors the opportunity to own property in the desert kingdom of Dubai. Sajwani saw the kingdom becoming a major luxury vacation resort and believed there was a large amount of untapped potential in terms of investment opportunities for foreign nationals who had fallen in love with this region of the United Arab Emirates.
Hussain Sajwani began moving towards a luxury real estate empire by purchasing vast areas of the property in Dubai regardless of whether the region was seen as fashionable or not. Understanding the arrival of foreign investment would result in the regeneration of much of the kingdom, the DAMAC owner was among the first to announce plans for a luxury apartment tower when the regulations finally changed in Dubai in 2001. Many experienced real estate investors did not believe Sajwani could make a profit from his tower because of its location. However, all 40 units in the first tower were sold in just 40 days and allowed the catering services expert to fund his development in total before construction began.
This was not the first gamble taken by Hussain Sajwani as he set about developing his career as an entrepreneur from an executive position with the Abu Dhabi National Oil Company. The main ambition for the career of the DAMAC owner was to become a professional in the oil and gas industry, but after achieving this he found himself spotting entrepreneurial opportunities. The first opportunity undertaken by Hussain Sajwani brought catering services to the oil fields of the Middle East with the Global Logistics Services brand still operating around the world today. Gambling on the future remains one of the most impressive parts of the work of Hussain Sajwani as he reads the direction different markets are taking on a regular basis.
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