DAMAC Properties Dubai Co., is a luxury property developer located in the United Arab Emirates area of Dubai. The company was established in 2002 by Hussain Ali Habib Sajwani. The organizations focuses on high end residential, commercial and leisure properties. They often use over the top marketing methods to sell their properties such as “a free Bentley with every luxury apartment.” Sajwani and his company has partnered with Donald Trump to design and construct two golf courses.
DAMAC owner Hussain Sajwani always dabbled in real estate before making the head long dive into the industry, but prior to that Sajwani was in the food service industry. He worked with the United States military during Operation Desert Storm in 1991 delivering meals to military personnel. Sajwani also worked for American companies such as Bechtel provide catering services. Food service is still an important aspect of DAMAC Properties and Sajwani still utilizes the expertise he accrued from that experience.
Sajwani looked at the real estate industry as a more profitable industry. He knew he could make millions in food, but he could make billions in real estate. He saw great opportunities emerging in real estate in 2002 and decided to take advantage of them. He was always a risk taker and always aimed high when pursing anything and real estate was no different. As some parts of the world were collapsing and its residents relocating, Sajwani saw a housing boon for DAMAC Properties. They started out that year building top line developments and put in place a very aggressive marketing plan to sell at an accelerated rate. Their business model was based on the off-plan sales method and it proved to be very successful.
Hussain Sanjawi also had a keen eye for the volatility of the real estate industry and when the development crash was approaching in 2008, Sanjawi was one of the few to take immediate and aggressive action to stem the tide of ruin that was heading his way. He put methods in place to cut cash flow and preserve what cash they had on hand. When the crisis passed DAMAC Properties emerged in a health position with a cash cushion to support its uptick in business.