DAMAC Properties is a real estate development firm headquartered in Dubai, United Arab Emirates. It was established in 2002 by entrepreneur Hussain Sajwani. He leads this company as its chairman and chief executive officer. They specialize in building dream homes for their aspirational customers. Many of their properties are mixed-use as they include space for luxury retailers to set up shop.
Hussain Sajwani (@hussainsajwani) sets up partnerships with other luxury brands in order to build and manage the properties built by DAMAC Properties. He has partnered with high-end Italian brands such as Bugatti who have designed the interiors and exteriors of the buildings his company has built. He has also partnered with the Trump Organization a few times who manage the golf courses that are built into DAMAC Property developments.
To date, most of the DAMAC Property developments have been in the Middle East. Hussain Sajwani says that he is now looking outside that region of the world for further expansion of his company. One of the markets he has been targeting is the United Kingdom. He says that the Brexit vote that took place in 2016 makes that nation’s real estate market an excellent place to invest. Brexit reduced the value of real estate in the UK, including in London, and so he has acquired land there to build upon. His first project is in London and it is scheduled to be completed in 2020. It will be a luxury 50-story building named Aykon London One, located right by the United States Embassy building in the Nine Elms neighborhood.
Hussain Sajwani says he is also interested in expanding DAMAC Properties into North America. He had been looking at buying land in Los Angeles and New York City in 2015 but decided to pass. He said that American taxes at the time made it too expensive to be worthwhile. He says that if the Trump administration does bring down taxes he plans on moving forward with his plans to start developing luxury towers in both of these cities in the next few years.
Sajwani’s charity works: https://www.albawaba.com/business/pr/damac-needy-children-518106