For almost thirty years, certain entrepreneurs and companies from the Middle East have adopted a western style of investment and financing. This trend has coincided well with world market fluctuations, capital trends, and the involvement of the United States military and its needs. DAMAC, founded by Dubai billionaire Hussain Sajwani, is one of the most successful corporations in this very profitable circle.
Hussain Sajwani started a food service company in the late 1980s. That company was carefully managed by Mr. Sajwani, and became a contract favorite of the US military as it engaged in conflicts starting with Desert Storm under the first Bush administration.
As a close ally, Dubai entrepreneurs like Sajwani were poised to make great profits providing food service and catering to allied partners. Along with a real estate boom in Dubai, DAMAC grew into one of the most financially solid corporations in the Arab world.
Hussain Sajwani attributes the success of DAMAC and its ventures to the concentration of remaining constantly liquid in a financial climate that extols the availability of credit and speculation. Read more: DAMAC Chairman Relishes His Roots
Through real estate market ups and downs, along with increasing political tensions, DAMAC has retained a position of prominence. Its large cash holdings have created the potential for large initial public offerings of its satellite companies through stock in the world’s largest trading arenas.
As a venturing entrepreneur, Hussain has been able to use the immense success of the DAMAC name to form ties with important financial entities all over the world. He has even been able to partner with real estate developers in the United States in the creation of some of the most extravagant and popular golf resort and hotel sites.
While many of his investment partners remain private some, like newly-elected US President Donald Trump, are open about their equitable partnership with one of Dubai’s most prolific financial figures.
DAMAC is not only a large property investment firm, but a recognized name in humanitarian efforts. CEO Hussain Sajwani is adamant about his company continuing to be a positive force in the world.
DAMAC is currently involved with charities like the Ramadan Initiative, which provides clothing for needy children throughout the UAE, and its allied regions. As one of the world’s largest real estate developers, this conglomerate has been guided by Hussain Sajwani to take a vested interest in the welfare of the world’s youth.
A single donation by this company in October of 2011 helped provide clothing and essentials to more than 50,000 children.