Chris Holden

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Damac Owner and CEO Hussain Sajwani and his Relationship with the Trump’s

by Chris Holden - July 16th, 2018.
Filed under: Business, Prominent Figures on Real Estate Business.

One of the most distinguished personalities in the global real estate sector today is Hussain Sajwani, the CEO, Chairman and the Founder of the UAE based integrated concern, the DAMAC Group. The company has a long history of working with American companies operating in various countries across the world, especially in the gulf region. According to an article published on The National Newspaper, Sajwani is recognized for his glitzy property developments and partnership with Donald Trump to put up a glamorous golf course, whose villas have raked in close to $2 billion in sales.

Being a visionary leader, the DAMAC owner took advantage of the UAE property market recovery to list DAMAC Properties shares on the London Stock Exchange. The publicly listed company established in 2002 serves a number of industries, including real estate, engineering, architecture and construction. During its formative years, the company was mostly focused on building housing units targeting the lower middle market. These properties were then successfully marketed with off plan sales. Today, the company is involved in the luxury real estate market with several lavishing properties lined up for in the Middle East, North Africa and Asia.

Following the election of Trump as US President, NBCnews.com reported in January 2017 that Sajwani wanted to do more business with the Trump and his family. The real estate mogul met President Trump early this year during the New Year’s Eve celebration. However, the meeting did not pass by without raising some eyebrows. The concern pointed to a conflict of interest on the part of the President for dabbling in business. The president has been categorical that he will not be making any new business deals while in office. The relationship between Hussain Sajwani family and the Trump’s dates back many years.

Members of the Sajwani family knew Trump’s daughter Ivanka and son’s Eric and Donald Jr. through business forums. Ivanka is a close friend of Sajwani’s wife and the entire Sajwani family. With regards to performance, a financial brief on Relationship Science indicates that as of 2016, DAMAC had a market capitalization of $15 billion; revenues of $7 billion and net-profit of $3.75 billion. Besides Hussain Sajwani, the DAMAC founder and owner, the other top executives working for the company include Adil Mohamed, the Group Chief Financial Officer; Niall McLoughlin, the Senior VP, Marketing and Corporate Communications and Arunan Thayyil, Vice President of IT.

According to Albawaba.com, Sajwani and DAMAC gives back by helping the needy children.

See more here: http://www.alhayat.com/

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