Source: Arabian Business
He was one of the first to grab the opportunities provided by the Dubai government decree that allowed foreigners to own property in the emirate, having founded DAMAC Properties in 2002. The company ultimately played a major role in orchestrating one of the world’s biggest real estate booms. It went on to become the first real estate firm from the Middle East to list on the London Stock Exchange in 2013, before it moved to the Dubai Financial Market in January 2015 to list in its home market exchange.
“I’ve been in business for almost 38 years. Profits and net worth? They go up, come down. I’ve seen cyclical markets”
Some of its projects include the $6.5bn AKOYA Oxygen, a 55 million sq ft community development, and DAMAC Hills, expected to house 10,000 units. This year, the company’s investment arm DICO International signed a hospitality partnership with Italian fashion house Roberto Cavalli Group to feature luxury interiors in its AYKON Hotels in Dubai. The first hotel is set for completion by 2023. Situated in Dubai Marina, it will offer 220 rooms overlooking the city skyline and Palm Jumeirah. Sajwani is among the world’s 10 richest Arabs with an estimated net worth of $3.7bn.
Industry: Real estate
Company: DAMAC Properties
Designation: Founder and Chairman