Hussain Sajwani

Hussain Sajwani
حسين سجواني
Born1952 or 1953 (age 72–73)[1]
EducationUniversity of Washington
OccupationBusinessman
Known forReal estate development
TitleFounder and chairman, DAMAC Properties
Children4
Websitehussainsajwani.com

Hussain Sajwani (Arabic: حسين سجواني; born 1952–1953) is an Emirati billionaire businessman and the founder of the property development company, DAMAC Properties,[2][3][4] and his private investment company, DAMAC Group.[5]

Sajwani bought land and property in Dubai in the 1990s, just as Dubai was developing into a regional hub.[6] He founded DAMAC Properties in 2002.[6]

According to Forbes, as of 2025, Hussain Sajwani is ranked among the top richest Arabs with a net worth of US$10.2 billion.[7] Sajwani is a close friend and associate of American president Donald Trump.[8][9]

Early life

Hussain Sajwani was born in 1952–1953 and is the eldest of five children. Both of his parents were entrepreneurs. His father was a trader with a shop at the local souk, selling watches, Parker pens, shirts, and goods imported from China.[10] Sajwani obtained a government scholarship and attended a medical college in Baghdad. After his first year, he left for the US and attended the University of Washington, where he studied industrial engineering.[11]

Career

Sajwani started his career in 1981 in the finance department at Abu Dhabi Gas Industries. Two years later, he started a catering venture, with customers including the U.S. military and Bechtel. The venture is still operational and is now called Global Logistics Services.[12]

He founded DAMAC Properties in 2002.[6] In 2015, the company was publicly listed on the Dubai Financial Market.[13] Some of the projects developed by DAMAC Properties include a golf course designed by Tiger Woods and managed by The Trump Organization,[14] luxury apartments with interiors by Italian fashion-houses Versace, Fendi, and Roberto Cavalli[5] as well as brands such as Paramount Hotels and Resorts in partnership with Paramount Pictures.[15]

In 2011, Sajwani was sentenced to five years’ jail time in absentia over corruption charges in an Egyptian court, although the sentence was later suspended.[6]

In 2019, Sajwani's private investment firm completed the acquisition of Italian fashion group, Roberto Cavalli.[16] Sajwani invested £600 million in London, UK, through its Versace-branded DAMAC Tower London in Nine Elms.[17][18]

In June 2021, Sajwani resigned as the chairman of Damac Properties and offered to take the company private.[19] In 2022, Sajwani acquired the jeweler, De Grisogono, and announced two collaborative development projects in Dubai.[20][21] In addition, Hussain Sajwani began spearheading a new major venture through Edgnex, focusing on developing data centers across regions from Ireland to Tokyo. This strategic expansion includes a $1 billion investment aimed at meeting the growing global demand for data infrastructure.[22][23]

In 2022, Sajwani delisted DAMAC stock shares from the Dubai stock exchange.[6] This was controversial, as the company's fortunes were improving and investors were expecting to profit on their investment.[6]

In September 2023, Sajwani officially opened DAMAC Mall, which attracted an annual footfall of approximately 1.3 million visitors.[24]

On January 7, 2025, Sajwani alongside President-elect Donald Trump at a press conference announced a US$20 billion investment to build new data centers across the US.[25]

Personal life

Sajwani is married, has four children, and lives in Dubai.[1]

His son, Ali Sajwani, is the managing director of operations at DAMAC Group. He was named one of the Middle East's future stars by the Arabian Business Achievement Awards 2017, organized by Arabian Business.[26]

His daughter, Amira Sajwani, is Damac's managing director of sales and development.[27][28]

Another son, Abbas Sajwani, is the founder and chief executive officer of AHS Properties.[29]

Recognition

  • Ranked Number 15 on Hotelier Power 50 - CEO Middle East Awards 2017[30]
  • Property CEO of the Year – CEO Middle East Awards 2017[31]
  • Real Estate Legend 2018 - Arabian Business Real Estate Awards[32]
  • Real Estate Business Leader of the Year 2018 - Gulf Business Awards 2018[33]
  • Ranked 26th on Construction Week's Power 100 list in 2019[34]
  • In 2020, Sajwani appeared in Cityscape Intelligence's most influential people in the MENA real estate industry.[35][36]
  • The 100 Most Powerful People in Global Hospitality, as recognized by the International Hospitality Institute's Global 100 in June 2022.[37]
  • Gulf Business Lifetime Achievement Award 2023[38]
  • 100 Power hour'24, Construction Business News[39]

References

  1. ^ a b "Forbes profile: Hussain Sajwani". Forbes. Retrieved 30 June 2021.
  2. ^ Moukheiber, Zina; Dolan, Kerry A. "How The Donald of Dubai Used Outrageous Marketing To Score A $3 Billion Real Estate Fortune". Forbes.
  3. ^ "Trump's sons in Dubai to open Trump International Golf Club". The National. 18 February 2017. Retrieved 11 November 2017.
  4. ^ "Damac Maison Hotels & Resorts to add 6,050 keys in ME". Trade Arabia. Retrieved 11 November 2017.
  5. ^ a b "Damac's Aykon Hotels to boast Roberto Cavalli interiors". Arabian Business. 2 October 2018. Retrieved 17 January 2020.
  6. ^ a b c d e f Cornish, Chloe; Oliver, Joshua (14 January 2025). "'Donald of Dubai': real estate mogul rubbing shoulders with Trump". Financial Times.
  7. ^ "Hussain Sajwani". Forbes. Retrieved 30 August 2024.
  8. ^ Sweet, Jacqueline (14 March 2024). "US firm that paid indicted FBI informant tied to Trump associates, records reveal". The Guardian. ISSN 0261-3077.
  9. ^ Alderman, Liz (8 January 2025). "Who Is the Developer Behind Trump's $20 Billion Data Center Pledge?". The New York Times. ISSN 0362-4331. Retrieved 8 April 2025.
  10. ^ "Hussain Sajwani: The Donald of Dubai". Forbes India. Retrieved 7 April 2019.
  11. ^ "High riser | Lifestyle – Gulf News". Gulf News. 20 July 2007. Retrieved 16 January 2020.
  12. ^ "Hussain Sajwani: The Donald of Dubai - Forbes India". Forbes India.
  13. ^ "Dubai's Damac plans more London projects to follow launch of Versace-themed development". The National. 20 July 2015. Retrieved 19 January 2020.
  14. ^ "Second time lucky for Tiger Woods? Golfer completes designs for new Dubai course". Arabian Business. Retrieved 11 November 2017.
  15. ^ "Damac goes to Hollywood with Paramount partnership for hotel". The National. 6 March 2013. Retrieved 19 January 2020.
  16. ^ Warrier, Ranju (1 December 2019). "Damac chairman's investment firm acquires Italy's Roberto Cavalli". Construction Week Online. Retrieved 17 January 2020.
  17. ^ "Donald Trump's Dubai business partner targets fresh London push". London Evening Standard. 4 July 2017. Retrieved 11 November 2017.
  18. ^ "Over half of units in Damac Tower in London sold". Arabian Business. 12 May 2019. Retrieved 19 January 2020.
  19. ^ John, Issac. "Sajwani resigns, offers $595m to take Damac private". Khaleej Times. Retrieved 31 August 2021.
  20. ^ "Dubai's DAMAC Group Acquires De Grisogono". National Jeweler. Retrieved 1 September 2022.
  21. ^ "Damac's Hussain Sajwani has now bought a Swiss jewellery brand, de Grisogono". Gulf News. Retrieved 1 September 2022.
  22. ^ "Damac's Hussain Sajwani is all set for his next big business push - data centers". Gulf News. 17 March 2022. Retrieved 11 November 2024.
  23. ^ Turak, Natasha; Murphy, Dan; Muwahed, Joan (17 March 2022). "UAE property tycoon Sajwani makes $1 billion bet on data centers". CNBC. Retrieved 11 November 2024.
  24. ^ Salian, Neesha (1 September 2023). "Dubai: DAMAC Mall officially opens". Gulf Business. Retrieved 11 November 2024.
  25. ^ Breuninger, Kevin; Javers, Eamon (7 January 2025). "Trump announces $20 billion foreign investment to build new U.S. data centers". CNBC. Retrieved 7 January 2025.
  26. ^ "Arabian Business announces 'Future Stars' at annual awards night". Arabian Business.
  27. ^ @AradaLiving (10 December 2019). "Cover Story: Amira Sajwani – Journey of an Emirati Role Model and Business Woman". Construction Business News Middle East. Retrieved 16 January 2020.
  28. ^ "Over half of units in Damac Tower in London sold". Arabian Business. 8 April 2019. Retrieved 19 January 2020.
  29. ^ "The 100: Abbas Sajwani, Co-Founder and CEO of AHS Properties". Entrepreneur Middle East. 2024. Retrieved 2 October 2025.
  30. ^ "Hussain Sajwani - Chairman of Damac Properties / Damac Hotels & Resorts". Hotelier Middle East. Retrieved 20 April 2018.
  31. ^ "UAE hoteliers win top accolades at CEO Middle East Awards". Arabian Industry. Retrieved 20 April 2018.
  32. ^ "MAG, Wasl and Dubai Properties take top honours at Arabian Business Real Estate Awards". Arabian Business. Retrieved 20 April 2018.
  33. ^ "Revealed: Winners at the Gulf Business Awards 2018". Gulf Business. 11 September 2018. Retrieved 19 September 2018.
  34. ^ "2019 CW Power 100: Hussain Sajwani of Dubai's Damac is #26". Construction Week Online Middle East.
  35. ^ "Sultan Bin Sulayem and CEO of Saudi Arabia's NEOM City in real estate 'power list'". Gulf News. Retrieved 27 January 2021.
  36. ^ "Revealed: Cityscape Intelligence's most influential people in the MENA real estate industry". Cityscape Intelligence. 18 January 2021. Retrieved 27 January 2021.
  37. ^ Mix, Pulse (1 August 2022). "Dr Jeffrey Obomeghie and Dupe Olusola among the 100 most powerful people in global hospitality". Pulse Nigeria. Retrieved 2 August 2022.
  38. ^ Muzoriwa, Kudakwashe (29 November 2023). "Revealed: Winners of the Gulf Business Awards 2023". Gulf Business. Retrieved 11 November 2024.
  39. ^ "9. Hussain Sajwani, Founder and Chairman, DAMAC Properties". Construction Business News Middle East. 20 August 2024. Retrieved 11 November 2024.
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