Hussain Sajwani is a United Arab Emirates National, and the founder and chairman of DAMAC properties. He graduated from the University of Washington with a Bachelor’s Degree in Industrial Engineering and Economics. His career began as a Contract Manager at GASCO, which is a subsidiary of Abu Dhabi National Oil Company (ADNOC). Shortly after embarking on his career, he established his own business and began a catering venture in 1982. The business grew to managing more than 200 projects and serving more than 150,000 meals every day in various markets including the Middle East, Africa, and the Commonwealth of Independent States (CIS). The company still operates today and is known as Global Logistics Services. It services many locations including education institutions, army camps, five-star hotels, construction campsites, among other locations. They provide services like maintenance work, camp management, and manpower supply.
During the mid-90’s, Hussain Sajwani built hotels in accommodation of those traveling to Dubai for business and trading purposes. The birth of DAMAC Properties happened shortly after, in 2002. DAMAC Properties employs close to 2,000 employees. It has delivered over 20,880 units and encompasses a development portfolio of over 44,000. DAMAC owner has joined forces with other projects including Tiger Woods designed golf courses, managed by the Trump Organization, luxury apartments with Versace Home, Fendi Casa, and Just Cavalli, and luxury villas with Bugatti. He has also partnered with properties with Paramount Hotels and Resorts. DAMAC owner also launched a project called DAMAC Maison (or DAMAC Hotels and Resorts as it is currently known) in 2011. This business provides service to over 13,000 hotel rooms and apartments.
In 2017, Hussain Sajwani was listed among the most 100 globally influential Arabs by Golf Business. DAMAC owner also shows interest in the world of trading including Al Amana Building Materials, and Al Anwar Ceramic Tiles Co. He has also made investments with Al Jazeira Services which was listed on the Muscat Securities Market in 1997 and has a capitalization of more than $110 million. Sajwani also serves as the member of boards to companies including Majan University College, Juno Online, and Emirates Takaful Company.
Hussain Sajwani is a Dubai, United Arab Emirates national, who currently serves as the founder, chairman and chief executive officer of DAMAC Properties, a luxury real estate property developer. He graduated from the University of Washington with a Bachelor of Science degree in Economics and Industrial Engineering, after receiving a highly coveted government-issued scholarship. He was one of the first students in Dubai to have been selected to attend school in the United States.
In 1981, he began his career at GASCO, a subsidiary of the Abu Dhabi National Oil Company, and worked as a contracts manager in its finance department. After several years, he ventured into the catering business and established his own company. Today, his catering venture is still active, and it now manages over 200 projects in the hospitality industry, as well as various U.S. military camps. It delivers over 150,000 meals each day across the Middle East, Africa and the Commonwealth of Independent States.
In 2002, Hussain Sajwani launched DAMAC Properties and became one of the first property developers in the emirate to expand his market to accommodate expats. DAMAC Properties had succeeded in becoming a multi-billion dollar company, and the largest luxury property developer in Dubai. In 2018, he was listed as the world’s 4th richest Arab by Forbes, with a net worth of $4.2 billion. DAMAC Properties has completed numerous projects that had exclusive interiors by luxury brands Fendi, Versace and Bugatti. The company also partnered with Paramount Pictures to complete the world-famous Paramount Hotels and Resorts.
In his personal life, Hussain Sajwani, the DAMAC Owner, resides in Dubai and is married with four children. His eldest son serves as the general manager of operations at DAMAC Group, and his eldest daughter is the vice president of operations at DAMAC Properties. He actively served on the Majan University College Board of Directors in Muscat Oman. He remains as a close business partner and friend to President Donald Trump, whom he collaborated with in the past to develop several world-class luxury golf courses in Dubai. One of the golf courses was fully designed by golf legend, Tiger Woods.
The real estate market in New Jersey shows a significant trail in the US as captured in Philly Purge.com. New Jersey has surpassingly grown in shares and the rates of residential foreclosure mortgages. There is an ongoing drop in delinquency and rates of foreclosure because of the impacts of the severe post-crisis events as well as the development of households, increased rates of employment, and the revenue from home prices. Consequently, plans are underway to ensure the positive trend continues, shortages get resolved, and the affordability crisis sorted.
Lawrence Yun, an expert in economics, however, predicts on centraljerseyworkingmoms.com further shortages in housing that might transpose into a housing emergency if the housing suppliers continue being less than the housing demand. The homes available for auctions are decreasing; newly build houses are selling rapidly, and the housing permits and those falling are befuddling. Housing prices are thus expected to appreciate and with the appreciation comes a demand to improve the selling conditions in future. In the midst of this crisis, there are those house owners who create demand by holding off their houses from the market waiting for the prices to hike.
Presently, most of the towns in New Jersey are moving towards game-changing developments like the building of thousands of new apartments. According to Bloomberg.com a growing trend in the state is the patent accessibility to transit; the New Jersey Transit Station is an incredible draw and appeals to many of the prospective home customers. Predictions show a shift in the real estate markets: lower house prices and high- interest rates and increased homes coming into the market. The growing job opportunities also considerably increase the housing demand. Mortgage rates unlike the rent rates remain relatively slow making mortgages more convenient.
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