Hussain Sajwani serves as the Chief Executive Officer and Executive Chairman at DAMAC Properties Co. LLC, Chairman at Al Anwar Ceramic Tiles Co, Chairman at DAMAC Holding LLC, and Chairman at Al Jazeira Services Co. SAOG.
The DAMAC group was established as a specialist catering company in the year 1992. The headquarters of this group is located in Dubai.
Early Life and Background
Hussain Ali Habib Sajwani was born in the year 1954. He was born into a conservative, middle- class family of Dubai. He received his undergraduate degree in economics from the University of Washington. He had a keen desire to acquire knowledge. Sajwani wanted to earn a degree in order to pursue his career as a white collar professional. He wanted to work for regular hours. According to his official biography, Sajwani seems like an ambitious young man. Sajwani went to attend a medical college in Baghdad after getting a government scholarship. But he did not complete the course.
Mr. Sajwani’s father had a watch and pen store in creek-side Deira district where he used to work for long hours. He also used to handle several real estate projects in Dubai. His mother used top hawk goods to local ladies. She used to purchase fabric from the wholesale market to sell this.
He started to work at the watch shop owned by his father, when he was around three years old. He learned a lot about the issues that a businessman faces in life, from his father. He used to get inspired by his father’s hard work, amazing skills and ambition. Sajwani used to hear all the stories of successes and failures of his parents. But he did not want to join the family business because of the harsh experience he gathered while working at his father’s shop. Sajwani eventually realized that the spirit of an entrepreneur was there in his blood.
During an exclusive interview, Sajwani also revealed that his father did not want him to complete high school or join university. Since Sajwani was the eldest son, his father wanted him to join the family business.
Marriages and Children
Hussain Sajwani is married and he has four children. Like any father, he wants his children to receive good education and good morals.
After completing his degree Economics from the University of Washington, he joined GASCO to serve as a contracts manager. He left this job after a short period and joined Abu Dhabi National Oil Company as a subsidiary. But he was destined to flourish as a successful businessman. He established his own business under the name of DAMAC in the year 1982. DAMAC LLC eventually became DAMAC Group because of the smart skills and hard work of Sajwani.
Hussain Sajwani established ZDICO Invets, an investment company, in the year 1992. He also found Al Jazeira Services Co SAOG which has a capitalization of over US$125 million.
Hussain Sajwani is also a board member of the US and Emirates Takaful Company in Abu Dhabi. He also serves as the board member of Majan University College in New York. Presently, he has an approximate net worth of $3.5 billion.