How Hussain Sajwani Grew DAMAC Into One Of The Largest Real Estate Developers In The Middle East

Hussain Sajwani is a native of the United Arab Emirates. He attended the University of Washington before returning to the UAE in 1981. In 1982 he founded DAMAC, a catering company.

He quickly grew this company into a regional company with operations throughout the Middle East, North Africa, and the countries that used to make up the Soviet Bloc. DAMAC was also used by the United States during the first Iraq war in order to serve food on their bases in the region. Learn more about DAMAC owner: http://www.arabianbusiness.com/the-world-richest-arabs-2014-574217.html?view=profile&itemid=574179#.WHgeI2QrIUs

In 2002, the UAE issued a decree that opened up the owning of real estate to foreigners. Hussain Sajwani saw this as a great business opportunity to sell luxury real estate to foreigners. He founded DAMAC Properties which is now part of DAMAC Group.

His first development was sold out months before it was even breaking ground on the project. DAMAC Properties now employees over 2000 people and has built almost 18,000 homes and has another 44,000 in various stages of development.

In order to market his property developments to high net worth individuals, Hussain Sajwani has designed some over-the-top marketing techniques.

As an example, he offers a free Lamborghini or BMW to customers who purchase one of his homes in the month of January each year. He’s has also given free jet skis and, for a few months in 2016, he gave a free studio apartment away for the purchase of one of his villas or mansions.

Hussain Sajawni and DAMAC Properties recently completed a huge new property development, Akoya, which was done in partnership with Donald Trump.

The development encompasses almost 1,000 acres and has an 18-hole golf course that is named after Trump. He also partnered with other luxury brands in order to furnish the homes including Fendi, Versace, and Bugatti.

Another property is in development with The Trump Organization as well. this property, called Akoya Oxygen, will be on 1,260 acres with another golf course named after Donald Trump and designed by Tiger Woods.

Under Hussain Sajwani’s leadership, DAMAC Properties earned $2.3 billion 2015 and had profits of 50%. Hussain himself is worth an estimated $3.2 billion.

Dick and Betsy DeVos Reveal Their Philanthropy Contribution

Following her nomination to the post of the Secretary of Education of the United States, Betsy DeVos and her husband Dick decided to shed light on their contributions.

 

A report published on their website revealed that the couple had contributed over $139 million towards different causes. In 2015, they contributed approximately $11.9 million to various charity organizations. 26% of that amount- $3 million was contributed in support of the education system.

 

Most of their contributions are made in support of the education sector. Dick DeVos commented that they had prioritized the education sector because they want to see a significant change in the industry.

 

Even though the couple decided to reveal the information themselves, the actions were criticized. The critics said that it was a ploy to divert the attention of the public from their political contributions. Whether that is true or not, they have taken a step towards transparency.

 

Dick and Betsy DeVos philanthropic work is no surprise. They come from families that are known for their philanthropy work. It has been reported that the DeVos family has made over $1.33 billion towards different causes.

 

About Dick DeVos

 

Born Richard DeVos Jr. ‘Dick’ is the son of the Richard DeVos Sr. Richard Sr. is the co-founder of the Amway Corporation. The Corporation focuses on distributing the health and household care products through the different distributors.

 

Dick joined the Amway Corporation in 1974, and he was in charge of manufacturing, marketing, sales, and research. Ten years after joining the Company, he was promoted to the position of Vice President of the Company. He was in charge of the operations in 18 offices of the Company.

 

In 1991, his father acquired the Orlando Magic, and for a brief period, Dick was the President of the Franchise. He resigned from the Company and rejoined the Amway as the president in 1993. Under his leadership, the Company attained great success. When he left the Corporation, Amway reported $4.5 billion in sales.

 

While still working at Orlando Magic, he was involved with the Windquest group. This is a management firm dealing with technology and manufacturing.

 

Dick DeVos founded the Dick and Betsy DeVos Foundation. Through the Foundation, he has supported different charities including Kids Hope U.S.A, the West Michigan Aviation, established in 2010, and the Potter’s House among others.

 

The Foundation has been supporting the ArtPrize, an art competition since 2009. The couple later established the Dick and Betsy DeVos Scholarship which supports students pursuing Master of Science, Master of Arts and Master of Business Administration.

 

In 2006, Dick announced his gubernatorial candidacy in Michigan.

 

He was awarded the Art of Giving Award by the Spectrum Health Foundation for his philanthropy work.