Hussain Sajwani
Emirati businessman From Wikipedia, the free encyclopedia
Hussain Sajwani (Arabic: حسين سجواني; born 1952–1953) is an Emirati billionaire businessman and the founder of the property development company, DAMAC Properties,[2][3][4] and his private investment company, DAMAC Group.[5]
Hussain Sajwani | |
|---|---|
حسين سجواني | |
| |
| Born | 1952 or 1953 (age 71–72)[1] |
| Nationality | Emirati |
| Education | University of Washington |
| Occupation | Businessman |
| Known for | Real estate development |
| Title | Founder and chairman, DAMAC Properties |
| Children | 4 including Ali Sajwani |
| Website | hussainsajwani |
Sajwani bought land and property in Dubai in the 1990s, just as Dubai was developing into a regional hub.[6] He founded DAMAC Properties in 2002.[6]
According to Forbes, as of 2025, Hussain Sajwani is ranked among the top richest Arabs with a net worth of US$10.2 billion.[7] Sajwani is a close friend and associate of American president Donald Trump.[8][9]
Early life
Hussain Sajwani was born in 1952–1953 and is the eldest of five children. Both of his parents were entrepreneurs. His father was a trader with a shop at the local souk, selling watches, Parker pens, shirts, and goods imported from China.[10] Sajwani obtained a government scholarship and attended a medical college in Baghdad. After his first year, he left for the US and attended the University of Washington, where he studied industrial engineering.[11]
Career
Summarize
Perspective
Sajwani started his career in 1981 in the finance department at Abu Dhabi Gas Industries. Two years later, he started a catering venture, with customers including the U.S. military and Bechtel. The venture is still operational and is now called Global Logistics Services.[12]
He founded DAMAC Properties in 2002.[6] In 2015, the company was publicly listed on the Dubai Financial Market.[13] Some of the projects developed by DAMAC Properties include a golf course designed by Tiger Woods and managed by The Trump Organization,[14] luxury apartments with interiors by Italian fashion-houses Versace, Fendi, and Roberto Cavalli[5] as well as brands such as Paramount Hotels and Resorts in partnership with Paramount Pictures.[15]
In 2011, Sajwani was sentenced to five years’ jail time in absentia over corruption charges in an Egyptian court, although the sentence was later suspended.[6]
In 2019, Sajwani's private investment firm completed the acquisition of Italian fashion group, Roberto Cavalli.[16] Sajwani invested £600 million in London, UK, through its Versace-branded DAMAC Tower London in Nine Elms.[17][18]
In June 2021, Sajwani resigned as the chairman of Damac Properties and offered to take the company private.[19] In 2022, Sajwani acquired the jeweler, De Grisogono, and announced two collaborative development projects in Dubai.[20][21] In addition, Hussain Sajwani began spearheading a new major venture through Edgnex, focusing on developing data centers across regions from Ireland to Tokyo. This strategic expansion includes a $1 billion investment aimed at meeting the growing global demand for data infrastructure.[22][23]
In 2022, Sajwani delisted DAMAC stock shares from the Dubai stock exchange.[6] This was controversial, as the company's fortunes were improving and investors were expecting to profit on their investment.[6]
In September 2023, Hussain Sajwani officially opened DAMAC Mall, which attracted an annual footfall of approximately 1.3 million visitors.[24]
On January 7, 2025, Sajwani alongside President-elect Donald Trump at a press conference announced a US$20 billion investment to build new data centers across the US.[25]
Personal life
Sajwani is married, has four children, and lives in Dubai.[1]
His son, Ali Sajwani, is an economics graduate from Northeastern University in Boston, US, and the managing director of operations at DAMAC Group. He was named one of the Middle East's future stars by the Arabian Business Achievement Awards 2017, organized by Arabian Business.[26]
His daughter, Amira Sajwani, is a graduate of University College London (UCL), where she majored in project management for Construction, and has a Master of Finance from the London School of Economics (LSE).[27] She is DAMAC's managing director of sales and development.[28][29]
Recognition
- Ranked Number 15 on Hotelier Power 50 - CEO Middle East Awards 2017[30]
- Property CEO of the Year – CEO Middle East Awards 2017[31]
- Real Estate Legend 2018 - Arabian Business Real Estate Awards[32]
- Real Estate Business Leader of the Year 2018 - Gulf Business Awards 2018[33]
- Ranked 26th on Construction Week's Power 100 list in 2019[34]
- In 2020, Sajwani appeared in Cityscape Intelligence's most influential people in the MENA real estate industry.[35][36]
- The 100 Most Powerful People in Global Hospitality, as recognized by the International Hospitality Institute's Global 100 in June 2022.[37]
- Gulf Business Lifetime Achievement Award 2023[38]
- 100 Power hour'24, Construction Business News[39]
References
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