DAMAC Group is associated with luxurious property developments. The company is credited for developing a glamorous golf course project in partnership with Donald Trump’s company. However, DAMAC Property engages in other sectors of the economy, including the hospitality industry. The corporation, which is owned by Hussain Sajwani, is one of the leading real estate companies in the United Arabs Emirates.
The DAMAC owner looks back at the early days of the enterprise. At the beginning of the 90s, the company was just a startup struggling to establish itself in the market. Hussain Sajwani posits that the company’s breakthrough started when it was hired by the United States Army to provide food service to its army during the Desert Storm.
The Army praised the company’s outstanding services. After the first Gulf War, DAMAC Properties continued to work with the Americans in Bosnia, Somali, and the Gulf. DAMAC’S involvement with the US Army saw it work alongside renowned American companies such as Bechtel.
Almost three decades later, the food business is still part of DAMAC Group’s operations. This division remains as a reminder of how far Hussain Sajwani and the company have come and their commitment to success.
The department is also a proof of the entity’s exemplary business expertise and Hussain Sajwani’s entrepreneurial abilities. Learn more about DAMAC owner: http://www.albawaba.com/business/pr/damac-needy-children-518106http://www.albawaba.com/business/pr/damac-needy-children-518106
Following the recovery of the real estate market in the United Arabs Emirates, Hussain Sajwani took advantage of his outstanding business strategies to undertake the company’s initial public offering (IPO). DAMAC group floated its shares in the London Stock Exchange. The process of underwriting the IPO went well. The business leader remains tight-lipped on vital information like share price.
DAMAC Group entered the real estate business during the boom of 2002. The company enjoyed six years of good business before the financial crisis of 2008. However, the industry has since recovered, and Hussain Sajwani is back to business. Read more: Meet Our Board | DAMAC Properties
The shrewd entrepreneur has worked closely with President Trump’s Trump Foundation. To avoid conflict of interest, the president cannot conduct his personal businesses. However, his children will spearhead the already existing business relation with Hussain Sajwani family.
According to Hussain Sajwani, DAMAC has employed a new business strategy to ensure that it cushions itself against future financial crises. This approach involves making full payment for all land before developing any properties.
In addition, the escrow accounts involved in the transactions are independent, and each project’s account is managed separately.