Steering a business to success is usually not an easy feat because even the slightest changes in market conditions tend to result in significant setbacks. The scenario is even worse when the business in question is an international conglomerate. For instance, due to the reinforcement of strict global trade conditions in the past year, DAMAC Properties, a real estate giant based in Dubai suffered a significant fall in its share prices, a factor that saw DAMAC owner Hussain Sajwani’s fortune reduce to $3.6 billion.
Setbacks are a frequent business element says DAMAC Owner Hussain Sajwani
Speaking in an interview with Bloomberg, DAMAC owner Hussain who has a long string of golf course projects with the Trump organization admitted that in his over three decades of experience in business he has witnessed his profits and net worth dwindle and then go up more times than he can recall. He even pointed out that the 2008 financial recession was rough on his business and hopes such times do not come back again. As a seasoned entrepreneur, Hussain is determined to ensure that his real estate company retains its high level of activity by doubling its luxury real estate investments in various European cities.
Hussain is not interested in US politics
Hussain Sajwani also addressed the issue of his company being in business with the Trump organization by saying that DAMAC’s ties with the said organization do not hinder its effectiveness in any way. If anything, being in business with the Trump organization has enabled DAMAC to make the luxury golf courses a reality due to its top-notch services.
Many a person has been speculating that Hussain’s close relationship with the Trump’s might result in him influencing some of US policy’s to favor DAMAC. He set the record straight on this matter by saying that first, he is a believer in free trade and secondly, he is not a politician. Therefore he’s always busy steering his businesses and lacks interest in influencing US’s policies. He, however, addressed the issue of China tightening the rules of international trade citing that these hinder business development.
Who is Hussain Sajwani?
Sajwani is a pioneer of Dubai’s real estate arena and is also one of the most influential business people in the UAE as well as international trade. As noted, he owns DAMAC, a luxury real estate business that he established in 2001. Besides real estate, Hussain also holds a series of other companies in the hospitality sector and is one of the wealthiest people in the UAE with a net worth of over $2 billion.