One of the primary success factors for Damac Group is its strategic networking. The Dubai-based company specializing in real estate and commercial properties has strategically partnered and networked with influential entities and individuals to grow its portfolio of high-end properties.
Under the leadership of its founder, board of directors’ chairman and chief executive officer, Hussain Sajwani, the company has partnered with the current United States President Donald J. Trump. The company is current two golf courses in its luxurious property in Dubai. The legendary golfer Tiger Woods has designed one of the two golf courses but both will carry the famous Donald Trump brand.
Additionally, Damac Group has used the connections Mr. Sajwani made while working in the hospitality industry to find new markets for its properties. To increase its brand awareness, the company has offered expensive cars to customers who purchase some of the glitzy properties.
Growth and Expansion: Towards Suave Financial Management
Hussain Sajwani family has adopted a unique financial management approach that ensures that Damac Group is sheltered from the market forces that affect property prices. This includes directing the company finances to invest into niche markets with significant returns on investment. Learn more about Hussain Sajwani: http://www.forbes.com/sites/kerryadolan/2016/03/01/the-donald-of-dubai-hussain-sajwani-interview/#1b049a722f15
The Damac owner successfully managed to cut the company’s cost significantly and ensuring that it overcomes the market volatilities. Such financial stability has seen the company not only list on the financial market in Dubai but also initiate the process of opening it IPO AT London Stock Exchange.
It has helped the company expand its operations beyond Dubai into new territories in the Middle East. Moreover, Damac Group has increased its employee base to over 2,000 and subsidiaries since its founding in 2002.
Career History and Philanthropic Activities
The Sajwani family is renowned for their strong interest real estate development. It was one of the first places Hussain honed his skills before founding a small real estate company. The company specialized in low-end housing.
He also operated a food catering company, which he has included in its current portfolio of Damac Group. After graduating from the University of Washington, he worked at GASCO. He is also a philanthropist who has financially supported various charities including clothes for the poor.