Hussain Sajwani
Hussain Sajwani | |
|---|---|
| Born | 1952–1953 United Arab Emirates |
| Occupation(s) | Entrepreneur, businessman |
| Years active | 1981–present |
| Known for | Founder of DAMAC Properties and DAMAC Group |
Hussain Sajwani (; born 1952–1953) is an Emirati billionaire entrepreneur, recognized as the founder of the real estate development firm DAMAC Properties and his personal investment company, DAMAC Group.
During the 1990s, as Dubai was evolving into a prominent regional center, Sajwani began purchasing land and real estate. He officially launched DAMAC Properties in 2002.
By 2025, Forbes listed Sajwani among the richest Arabs, estimating his net worth at around US$10.2 billion. He is known to maintain a strong business connection with former U.S. President Donald Trump.
Early life
Born between 1952 and 1953, Hussain Sajwani is the eldest of five siblings in a family with entrepreneurial roots. His father operated a small trading business at a local market, dealing in watches, Parker pens, shirts, and imported merchandise. Sajwani initially earned a government scholarship to pursue medical studies in Baghdad but left after one year to enroll in industrial engineering at the University of Washington in the United States.
Career
Sajwani’s professional journey began in 1981 within the finance sector at Abu Dhabi Gas Industries. Two years later, in 1983, he founded a catering company that served clients such as the U.S. military and Bechtel; this enterprise continues today under the name Global Logistics Services.
In 2002, he established DAMAC Properties, which later went public on the Dubai Financial Market in 2015. The company’s portfolio features high-end developments including a golf course designed by Tiger Woods and managed by The Trump Organization, alongside residences with interiors crafted by luxury brands like Versace, Fendi, and Roberto Cavalli. Additionally, DAMAC collaborated with Paramount Hotels and Resorts on branded hospitality projects.
In 2011, Sajwani faced a suspended five-year prison sentence in Egypt related to corruption allegations.
In 2019, his private investment firm purchased the Italian fashion label Roberto Cavalli. That same year, he invested £600 million in London real estate through the Versace-branded DAMAC Tower London located in Nine Elms.
In June 2021, Sajwani stepped down as chairman of DAMAC and proposed privatizing the company for $595 million. The following year, he acquired the jeweler De Grisogono and announced two new development initiatives in Dubai. He also launched Edgnex, a $1 billion data center project expanding from Ireland to Tokyo aimed at meeting growing global demand for data infrastructure.
Later in 2022, Sajwani withdrew DAMAC shares from the Dubai stock exchange amid improving financial performance, a move that attracted criticism from investors.
In September 2023, he inaugurated DAMAC Mall, which draws close to 1.3 million visitors annually.
On January 7, 2025, Sajwani and President-elect Donald Trump revealed plans for a $20 billion investment to establish new data centers throughout the United States.
Personal life
Sajwani is married with four children and lives in Dubai.
His son Ali Sajwani, who graduated in economics from Northeastern University, serves as managing director of operations at DAMAC Group and was honored as one of the Middle East’s rising stars by the Arabian Business Achievement Awards in 2017.
His daughter Amira Sajwani holds qualifications in construction project management from University College London and a Master of Finance degree from the London School of Economics. She acts as DAMAC’s managing director of sales and development.
Recognition
- Positioned 15th in the Hotelier Power 50 list at the CEO Middle East Awards 2017
- Honored as Property CEO of the Year at the CEO Middle East Awards 2017
- Awarded Real Estate Legend title in 2018 by Arabian Business Real Estate Awards
- Recognized as Real Estate Business Leader of the Year in 2018 by Gulf Business Awards
- Secured 26th place on Construction Week's Power 100 ranking in 2019
- Listed among Cityscape Intelligence’s most impactful figures in MENA real estate, 2020
- Included in The 100 Most Influential People in Global Hospitality by the International Hospitality Institute, 2022
- Honored with the Gulf Business Lifetime Achievement Award in 2023
- Featured within the '100 Power Hour'24' by Construction Business News