Being apart of the real estate market ups and downs is nothing new to Hussain Sajwani. Even after the global real estate market took a turn for the worst in 2008, he did what most successful people do: he rebuilt his real estate empire.
Residing in Dubai, the founder and CEO sits for an interview while overlooking one of is real estate developments. He tells the interviewer at the young age of seven years old his father would take him to his shop after school. He suggests that by being around a commercial business so young in life stuck with him as an adult and can be accounted to his much success. It was his father that taught him how important adapting to one’s customer base is. Still to this day, Hussain Sajwani knows how to adapt to an ever-changing market.
The lessons of Hussain Sajwani‘s father has paid off. According to Forbes, the real estate mogul is the tenth richest Arab worth $3.7 billion. DAMAC Properties is the fourth biggest public company. The company has very little competition to compete with because of it large scale.
With success comes challenges. In 2008 when the real estate market to a turn for the worst, Hussain Sajwani surely felt the downside of a changing market. The billboards advertising DAMAC properties were gone, the cranes began disappearing out of Dubai’s skyline and the sales reports began coming in with decreasing numbers. Many predicted this would be the end for DAMAC Properties. But the company’s founder saw otherwise.
The comeback was incredible. Hussain Sajwani led his company to being the first real estate company to be listed on the London Stock Exchange. The company raised hundreds of millions of dollars. The CEO put the money to work by finishing older projects, selling properties and investing. He led the company to creating developments in foreign countries like the United Kingdom.
Today, Hussain Sajwani looks over his luxury estate and remembers the trials his company has faced. He is proud of how his company revitalized itself and is an example of how to overcome challenge.