Many real estate experts would consider the current economic situation in the UK a sign that you should avoid investing there until Brexit has run its course. DAMAC Owner Hussain Sajwani however is continuing full force with his next DAMAC Tower as part of AYKON London which at this time is actually ahead of construction schedule. He admits the Brexit situation has put some speed bumps in the road, yet he has been unsurprised by it. His take is that the market is still very valuable in the UK and believes in his plan to expand there outside the Middle East because of the clients from that area he’s noticed renting his Dubai properties. Sajwani says the London real estate market is a bit overstocked at the moment, but he believes within two years demand will pick back up.
Hussain Sajwani really has delved into many business and finance endeavors since graduating from the University of Washington and beginning his own catering company. He still runs it as part of DAMAC’s operations, but mentioned that he shifted from just the food industry because he saw a demand for vacation properties growing in the 1990s, and also saw a good ROI on several hotels he purchased initially. Sajwani officially became DAMAC owner in 2002 when he started his first office, and then laid the groundwork for his first major property, Marina Terrace in 2003. From there DAMAC Properties took off and has become the lead investing company in billions of dollars in Middle East and international properties.
Hussain Sajwani has added several other entities to DAMAC Properties including a ceramic tile manufacturing company, an insurance company and also an insurance company. As DAMAC owner, one of his most noted accomplishments has been joining forces with the Trump Organization in both building luxury housing and even two major golf courses, one of which has already been completed. One of Sajwani’s biggest projects that has risen in Dubai is AYKON City, a conglomerate of buildings that has become almost a city within Dubai dotting the canal by the gulf. Sajwani was recently named Real Estate Legend at an Arabian business awards show.