Hussain Sajwani and DAMAC Owner, Regional Turmoil
Hussain Sajwani is a well-known real estate developer in the Gulf Region who is the founder and chief executive officer of DAMAC Properties. DAMAC Properties is part of the DAMAC Group which was first established in 1992. Hussain Sajwani founded DAMAC Properties in 2001 after being in the catering business from 1982. According to rankings on the Forbes list, DAMAC owner is the 5th richest Arab in Dubai. Hussain Sajwani is interested in expanding his real estate firm to China and has a good relationship with the US President Donald Trump. DAMAC Properties became the first company in the Gulf Region to be listed on the London Stock Exchange. The company is involved in a lot of residential, mixed projects and commercial properties.
During an interview with CNBC, DAMAC owner explained how Dubai benefits from regional turmoil in the Gulf Region. Many other people are deeply worried about the regional turmoil in neighboring states of Dubai, but Hussain Sajwani is not worried about any of this. According to Sajwani, regional turmoil helps Dubai in forming friendly relations with their neighbors and increasing trading activities in the country thus improving the economic conditions. DAMAC owner states that the country has always benefited from the turmoil. An exceptional example he gave was when Iraq and Iran were in the war, and the trade between Dubai and Iran increased. This happened eight years ago and only proves that the regional turmoil builds stronger relationships for Dubai.
Hussain Sajwani (@hussainsajwani) also cited the fall of Somalia that Dubai benefited from. When Somalia collapsed, most of the economic activity that happened in Somalia migrated to Dubai. This migration was prompted by the economic prowess of Dubai as well as its favorable location. Dubai is one of the safest countries in the world, and due to its safety and high security, the trade from Somalia moved to it as well.
Dubai is one of the most advanced cities in the world and is a great asset to the Middle East. Dubai is a great investment and financial hub and with time will be the world leading investment hub.