In 2002, the United Arab Emirates government passed a new law allowing expats to lease property in the country for 99 years. Following this change in law, the Hussain Sajwani family opened their DAMAC real estate company. The first year saw them open two luxurious properties along Dubai Marina. Buyers loved these upscale properties.
DAMAC in 2003
Following the great success that the company experienced in 2002, they oped the iconic Park Towers development in the heart of Dubai’s financial district. Plans were initiated to build Ocean Heights which at the time of its completion in 2010 contained 519 luxurious condominiums.
DAMAC in 2004
Hussain Sajwani has never been content to rest on his accomplishments, so DAMAC Properties became the first real estate company to launch projects in every master-planned community in Dubai. Executive Heights became the first freeholders office complex in Dubai. It was an accomplishment that Hussain Sajwani had only dreamed of earlier in his career.
DAMAC in 2005
Hussain Sajwani says that 2005 was a very important year in DAMAC’s history. During the course of the year, Hussain Sajwani oversaw 20 projects across the Middle East.
DAMAC in 2006
The company finished developing Marina Bay turning it over to customers before turning their attention to the Burj area of Dubai in 2006. This year was also pivotal because the company completed their first project in Saudi Arabia. The Al Jawharah set new heights in luxurious accommodations along the Red Sea coast.
DAMAC in 2007
While the company was just five years old in 2007, Hussain Sajwani had built an award-winning company. Work began in 2007 on five projects winning Arabian development awards. Regardless of where the development was located in the Middle East, their projects were widely accepted by expats and others looking for investments in the Middle East.
Real estate investors around the world know Hussain Sajwani develops luxurious properties under his DAMAC Company. If you are looking to invest in the Middle East, then contact this DAMAC owner today.