The Damac Group was founded in 1976 by billionaire Hussain Ali Habib Sajwani. The group under Mr. Sajwani’s leadership has interests in engineering, construction, architecture and real estate. The Group’s headquarters are in Dubai the United Arab Emirates and engages and commercial, residential, and leisure construction throughout the Middle East. During Operation Desert Storm in the other world crisis the Damac Group added food production to support the United States in its overseas operations. The company has also supported Bechtel and its and endeavors in the Middle East.
Mr. Sajwani has three basic principles for his Damac Group. These three principles are the driving force behind his successful property development and are based on his lifelong experiences and business ethics. His first principle is to carry no debt. The second principle is to keep all escrow accounts independent and his third principal is to retain cash reserves. Mr. Sajwani believes reserves should be held in fixed deposits and government bonds. His reasoning behind this third principal is the support of construction regardless of market performance. The Damac Group’s Focus is on the recovery property prices in the UAE and he is considering taking the group public.
Hussain Sajwani and his family share a close relationship with President Trump and his family. Previous to President Trump being elected his real estate company was associated with the Damac Group in developing luxury hotels and golf courses. Mr. Sajwani’s wife here’s a close relationship with President Trump’s daughter Ivanka.
Mr. Sajwani and his family share a concern for the world’s children and their living conditions. Along with His Highness Sheikh Mohammed The Sajwani family has donated over 120 million dollars to clothing and feeding of needy children. The Damac also provides service hotel housing for needy families and has provided over 2,800 serviced apartments to families in need of shelter. Mr. Sajwani is associated with the humanitarian group Emirates Red Crescent through continuing clothing and food campaigns needy children. Together with His Highness Sheikh Mohammed Mr. Sajwani’s philanthropy reaches out to improve the life of others especially during Ramadan. Learn more: https://www.crunchbase.com/person/hussain-sajwani#/entity