Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. He is a graduate of Northeastern University in Boston, Massachusetts, where he majored in Economics. A graduate from the University of Washington, he started his career as a Contracts Manager in GASCO, a subsidiary of ADNOC (Abu Dhabi National Oil Company). Notable exceptions include cars and meat, which will see tariffs in place to protect British farmers, NatWest is trialling a new bank card that will allow people to touch their hand to the card when paying rather than typing in a PIN number. He is currently pursuing his Level 3 CFA certification while overseeing day-to-day operations at global property developer, DAMAC Properties. The daughter of Hussain Sajwani, Founder and Chairman of DAMAC Properties, Amira developed an interest for the business at a very young age. A UAE National founded the Dubai-based luxury estate company in 2002, but his beginnings were far more modest. Damac spokesman Niall McLoughlin said the company is “exploring opportunities in major gateway cities across Europe and the US, hence the numerous and ongoing meetings over the past many years” by Sajwani. The Trumps have previously described the Damac properties chairman and founder as a "great friend". Sajwani wanted to earn a degree in order to pursue his career as a white collar professional. The local branch of Colliers International, a commercial real estate firm based in Toronto, said it organised the three-day trip for Sajwani, trying to pitch him on developments on the Istria peninsula and Central and Southern Dalmatia. They were placed on your computer when you launched this website. “Therefore, and as per company information, almost 31 percent of all company shares held through companies in foreign jurisdictions are in fact owned by UAE nationals,” DAMAC said. “Once foreign investors see the Damac name in Europe, they’ll follow it all the way back to the source, which is Dubai, so they can capitalise on it here.”. Want to bookmark your favourite articles and stories to read or reference later? DAMAC’s private investment arm The DICO Group announced recently the appointment of a senior vice president for acquisitions, whose new mandate includes exploring possibilities for further acquisitions overseas. It also raised the public profile of a billionaire whose fortune grew in part out of contracting work his companies did in supplying US forces during the 1991 Gulf War that expelled Iraqi forces from Kuwait. Hussain Sajwani is the founder and Chairman of the global property development company, DAMAC Properties Dubai Co. Sajwani lives in Dubai with his wife and four children. Marketing executives say that product placement in films and televison shows on streaming services such as Netflix may be tailored to individuals in future. Screen, analyze and compare projects in the Middle East and North Africa across Infrastructure, Real Estate, Industrial and Energy sectors with Refinitiv’s Eikon. That can drive business for any possible Damac project in either country, as well as create new European interest in Dubai, where the developer makes its real money, said Issam Kassabieh, an analyst with the UAE-based firm Menacorp Finance. An ongoing diplomatic dispute between Saudi-led group of Arab nations and Qatar has likely also affected Damac, as 6 per cent of all its customers from 2014 to 2016 were Qataris, according to an April filing by the company on the Nasdaq Dubai. 2 Jan 2019, Coca-Cola has paid £3.9bn for Costa Coffee. Are you sure you want to mark this comment as inappropriate? Enter Sajwani’s Damac Properties. Airline Flybe has collapsed. It told the AP that the villas are “not a new project” and represented “our longstanding relationship with Damac Properties.”, While Damac merely mentions Trump as representing “the most respected developments throughout the world,” one Dubai newspaper more bluntly suggested buyers could “own a piece of the Trump name.”. According to Forbes, Hussain Sajwani is the world’s tenth richest Arab, with an estimated net worth of $3.7bn. To get better results, add more information such as First Name, Birth Info, Death Info and Location—even a guess will help. Please pay your fair share", The government has announced that it would slash almost all tariffs in the event of a no-deal Brexit. “In total, circa 34 percent of all company shares are held through companies in foreign jurisdictions and therefore, the balance 3 percent of all company shares are owned by foreign investors,” it added. Dubai’s real estate developer DAMAC Properties clarified on Wednesday that only a small portion of the company’s shares are owned by foreign investors and that the majority ownership, approximately 85%, is still controlled by the founder, Emirati billionaire Hussain Sajwani and his family. He received his undergraduate degree in economics from the University of Washington. 89.9k Followers, 84 Following, 814 Posts - See Instagram photos and videos from Hussain Sajwani (@hussainsajwani) Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. However, the company isn't issuing shares, but rather, shares held by Spotify's private investors will be sold. You can find our Community Guidelines in full here. It was reported last week that more than a third (33.82 percent) of the company, representing a little over two billion shares, are owned by “foreign investors”. It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. Have news to share? Hussain Sajwani, a UAE National, is the founder and Chairman of global property development company, DAMAC Properties and founder and Chairman of the DICO Group of Companies. Hussain Sajwani, chairman of Dubai’s largest private sector property developer, is on a mission to persuade the world that he – like his home town – is back. Damac Properties was the Arab world’s fourth biggest public company in 2017, with Emaar its only real competitor in terms of scale. Hussain Sajwani, a billionaire property tycoon who recently snapped up Italian fashion house Roberto Cavalli, has bought 6.8 per cent of the FTSE 100 company. From a tender age, Sajwani knew he did not want to follow his father’s footsteps and join the family business. Facing that sluggish market, Sajwani has begun to look abroad. That made Sajwani, who owns over 70 percent of Damac stock, even richer. Damac Properties declined a request to interview Sajwani made by Associated Press. A FEW WEEKS AFTER Donald Trump announced a travel ban on seven Muslim nations, his billionaire real estate partner in the United Arab Emirates, Hussain Sajwani, is a … The deadline to award a contract to make blue British passports after Brexit has been extended by two weeks following a request by bidder De La Rue. This week Damac Properties launched a new set of Trump-branded duplex villas, priced from £624,000, including three years’ golf course membership. During recent trips to Croatia and Malta, a Dubai-based billionaire and business partner of the Trump Organisation looked more like a head of state himself, mingling with government dignitaries, receiving a presidential reception and visiting the glittering Mediterranean sea. The Beast from the East wiped £4m off of Flybe’s revenues due to flight cancellations, airport closures and delays, according to the budget airline’s estimates. Sajwani then travelled to Malta, an archipelago nation off Italy in the Mediterranean Sea, and met with Prime Minister Joseph Muscat. Only 3% of company's shares, not 34%, have been sold to foreign investors. Hussain Sajwani is the chairman of Dubai-based luxury real estate developer Damac Properties, which he founded in 2002. Ali Hussain Sajwani is a graduate of North Eastern University in Boston, Massachusetts, where he majored in Economics. All future flights on the Exeter-based airline have been cancelled – leaving more than 2,300 staff facing an uncertain future, and wrecking the travel plans of hundreds of thousands of passengers. Hussain Sajwani grew up in Dubai in a middle-class family focussed on selling. Hussain Ali Habib Sajwani was born in the year 1954. Hussain Sajwani, a UAE national, is the founder and Chairman of global property development Company, DAMAC Properties. His father owned a watch shop and also controlled small real estate projects in Dubai. The Trump Organisation, now run by Trump’s sons though the president hasn’t divested from it, also tweeted that the new villas were for sale. With my father Hussain Sajwani & Mr. Michael Milken, Chairman of the Milken Institute. Please continue to respect all commenters and create constructive debates. Each summer, “Tokyo, Toronto, New York, Paris, I don’t know. However, economies overall have slowed across the Middle East amid a glut in global oil prices. All Rights Reserved. In Oman he signed a deal in June with the state-run Oman Tourism Development Co. for Damac to help redevelop Port Sultan Qaboos in Muscat, a project valued overall at $1bn (£773m). Born in 1954, Hussain Ali Habib Sajwani grew up in Dubai. With the US-UAE Business Council Fin Tech delegates at our home. In February, Trump’s sons Eric and Donald Jr. opened the Trump International Golf Club in Dubai, the first of two to be built in the kingdom by Sajwani. Hussain Sajwani pictured with his daughter Amira Sajwani. Trump Sons attend Damac family wedding in Dubai. Chairman of Damac holding Hussain Sajwani attends a Reuters Summit in Dubai March 26, 2007. Hussain Sajwani is third richest man in the UAE. Damac Holding chairman Hussain Sajwani started work at his father's shop in the Deira Souq at the age of 3. ​Sajwani wholeheartedly embraced Trump, even as the US presidential candidate’s campaign saw him call for a “complete shutdown” of Muslims coming to the US. Damac share prices have nearly doubled from 2.17 dirhams (46p) a share on the day of the US election in November, to a high of just under £1. Ali Hussain Sajwani oversees day-to-day operations at global property developer, DAMAC Properties. With my family in London. Sajwani also visited tourist towns along the coast of the Adriatic Sea, according to a Damac statement at the time. Hussain Sajwani has transformed the desert skyline with luxury apartments and lavish mansions using outrageous marketing strategies (free Lamborghini, anyone?). Quickly uncover hidden opportunities with comprehensive data and content. Email us at [email protected], or send us your company press releases to [email protected]. Read our full disclaimer policy here. Read our full mailing list consent terms here. He was born into a conservative, middle- class family of Dubai. Hussain Sajwani met with leaders in the two European nations and addressed local journalists, many of whom made reference to his ties to President Donald … Hussain Sajwani (born 1953), is an Emirati billionaire businessman, and the founder and chairman of the property development company, DAMAC Properties, and his private investment company, DICO group. Disclaimer: This article is provided for informational purposes only. That restless energy has seen Sajwani orchestrate some of the boldest schemes in the country. Hussein Sajwani outlines his close ties to Ivanka and says he hopes to do more business with the president-elect's children. The company previously offered standalone villas at priced from around £1m up to just over £3m. This website uses cookies to improve your online experience. He wanted to work for regular hours. Both Croatia and Malta are members of the European Union, which Emirati citizens have been able to travel to without visas since 2015. You can change your cookie settings through your browser. Start your Independent Premium subscription today. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Edit your search or learn more Are you sure you want to delete this comment? 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And while it remains unclear how Sajwani trades on his Trump ties in private meetings with foreign leaders, advertising and marketing by Damac prominently features Trump. Sajwani genealogy and family history facts. The future of pay day lenders is in doubt after Wonga, Britain's biggest, went into administration on August 30, Elon Musk has concluded that Tesla will remain public. Celebrating iftar at home with diplomats and consular representatives to the UAE. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Damac Properties founder and chairman Hussain Sajwani’s arranged the marriage party of his daughter Amira Sajwani over the weekend, and among the chief attendees at this marriage ceremony were Dubai Crown Prince Sheikh Hamdan and two eldest sons of US president Donald Trump, Eric and Donald Jnr. He had a keen desire to acquire knowledge. A graduate from the University of Washington, he started his career as a Contracts Manager in GASCO, a subsidiary of ADNOC (Abu Dhabi National Oil Company). Hussain Sajwani, chair of Dubai’s DAMAC Properties, said he would welcome the chance to expand his firm’s relationship with Trump. REUTERS/Mohammed Salem. Damac “continues to look at the investment opportunities” in Croatia, primarily along the Adriatic, said Vedrana Likan, the managing partner of Colliers’ Croatian arm. He is a graduate from the University of Washington, having studied Economics and Industrial Engineering. Sajwani is looking to make more acquisitions overseas and expand his portfolio. DAMAC Properties sets new standards for design, craftsmanship and inspired lifestyles. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. Suhoor at home, May 2019. Want an ad-free experience?Subscribe to Independent Premium. Hussain Sajwani owns a real estate company whose Trump-branded properties are raising eyebrows among the US President’s critics, Find your bookmarks in your Independent Premium section, under my profile. The chief executive, Mark Anderson, said: “Europe’s largest independent regional airline has been unable to overcome significant funding challenges to its business. Recently, the firm took over 100 percent ownership of Italian fashion house Roberto Cavalli. Investors and company directors were angry at Musk for tweeting unexpectedly that he was considering taking Tesla private and share prices had taken a tumble in the following weeks, Iconic British car maker Jaguar Land Rover warned on July 5, 2018 that a "bad" Brexit deal could jeopardise planned investment of more than $100 billion, upping corporate pressure as the government heads into crucial talks, Spotify traded publically for the first time on the New York Stock Exchange on Tuesday. Hussain Sajwani, left, has a 70 per cent stake in Damac Properties which this week started selling Trump Estate villas in Dubai. By Cleofe Maceda, ZAWYA. The British firm said Gemalto was chosen only because it undercut the competition, but the UK company also admitted that it was not the cheapest choice in the tendering process. Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. “It’s a very effective method of branding,” Kassabieh said. “My dream is as we have put our major, iconic tower in London, that we do repeat that in major gateway cities around the world,” Sajwani said in a July online video. A cafe chain is a new venture for the global soft drinks giant, A funeral procession for payday loans was held in London on September 2. But that would be a dream – to grow Damac with its iconic brands around the world.”. Copyright © 2021 Zawya. Hussain Sajwani is the founder and Chairman of global property development company DAMAC Properties. UAE billionaire Hussain Sajwani, family still own over 85% of firm, DAMAC clarifies. The card will work by recognising the user's fingerprint, High-end slipper retailer Mahabis has gone into administration. Then in July, Sajwani visited Croatia and met with president Kolinda Grabar Kitarovic. According to his official biography, Sajwani seems like an ambiti… IE 11 is not supported. Crown Prince, Trump sons attend Sajwani family wedding. (Reporting by Cleofe Maceda; editing by Mily Chakrabarty). Chairman of Damac holding Hussain Sajwani attends a Reuters Summit in Dubai March 26, 2007. Please be respectful when making a comment and adhere to our Community Guidelines. Born to an entrepreneur father, Hussain Sajwani sold watches in […] Hussain Sajwani met with leaders in the two European nations and addressed local journalists, many of whom made reference to his ties to President Donald Trump or simply called him “the Donald of Dubai”. He grew up in Dubai in a middle-class family focused on selling. You can also choose to be emailed when someone replies to your comment. Only 3% of company's shares, not 34%, have been sold to foreign investors. The move comes after anger at the announcement British passports would be produced by Franco-Dutch firm Gemalto when De La Rue’s contract ends in July. Damac announced results Monday that put its second-quarter earnings at £150m, down from £183m in the same period last year. Apart from the 18 percent of shares held by Sajwani in assets abroad, the businessman’s family members also hold 13 percent of the company’s total shares through companies in foreign jurisdictions. Sajwani’s trips to Europe – as well as a recent deal in Oman – show that Trump’s business partner in Dubai wants to expand his development empire beyond the Middle East, and a tower which is under construction in London. {{#verifyErrors}} {{message}} {{/verifyErrors}} {{^verifyErrors}} {{message}} {{/verifyErrors}}, New conflict questions over Trump company's links to Dubai billionaire, Merck shares rise despite Trump threat over ‘rip-off’ drug companies, Trump’s conflicts of interest make US seem like a ‘kleptocracy’, House Oversight Committee ‘unlikely’ to investigate Trump, Trump’s conflict of interest problem isn’t going away, You may not agree with our views, or other users’, but please respond to them respectfully, Swearing, personal abuse, racism, sexism, homophobia and other discriminatory or inciteful language is not acceptable, Do not impersonate other users or reveal private information about third parties, We reserve the right to delete inappropriate posts and ban offending users without notification. Once reaching office, Trump’s travel ban on six predominantly Muslim countries avoided naming the UAE, a major US ally that hosts some 5,000 American troops and is the US Navy’s busiest foreign port of call. As of this week, it has started selling Trump-branded villas on the Trump golf club estate in Dubai. If Sajwani “is featuring the Trump name in his marketing materials and if, as one can fairly assume, that’s being furnished to government officials and others, then that would be a not-very-subtle attempt to trade on his business partner’s presence in the White House,” Eisen said. That could lead to potential conflicts, said Norman Eisen, who served as President Barack Obama’s lead ethics attorney and who now is a part of a watchdog group suing Trump for his alleged violations of a clause of the US Constitution that prohibits foreign gifts and payments. From modest beginnings, he has become a self-made billionaire, recognised as one of the most powerful Arabs in the world.. Sajwani is Founder & Chairman of the DAMAC Properties, a global business with revenues of over $1.6bn and 2000+ employees which has delivered over 25,000 homes and has a development portfolio of over 40,000 units. Sajwani’s dream for a global expansion – as well his growing online presence among social media videos and posts – received a major boost with Trump taking the White House. Read more about Hussain Sajwani, Chairman of DAMAC, and his message to investors, partners & customers. Hussain Sajwani has an extraordinary story. A post shared by Hussain Sajwani (@hussainsajwani) on May 16, 2017 at 4:56am PDT And Donald Trump Jr. visited Sajwani in Dubai last May, according … The most insightful comments on all subjects will be published daily in dedicated articles. Find information about the Sajwani family, see the geographical distribution of the Sajwani last name. In a statement to the Dubai Financial Market (DFM) on Wednesday, the developer said foreigners hold only three percent of all company shares, while the biggest chunk of the shares, around 72 percent, still belong to Sajwani. “The company wishes to clarify that… 72.2 percent of total company shares are held by founder and chairman Hussain Sajwani (18 percent are held by him through companies registered in foreign jurisdictions, and the balance 54 percent are held onshore),” DAMAC said. Flybe said it cancelled 994 flights in the three months to 31 March, compared to 372 in the same period last year. "Hussain, and the whole family from Dubai, the most beautiful people from Dubai are here tonight and they're seeing it and they love it," he said at the time. Private investors will be sold and more Spotify 's private investors will be sold choose to be emailed someone! Not want to bookmark your favourite articles and stories to read or reference later the. 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To travel to without visas since 2015 cookie settings through your browser including three years ’ golf course.. Do more business with the president-elect 's children degree in order to pursue his career as a white collar.... From £624,000, including three years ’ golf course membership I don ’ t know and... To respect all commenters and create constructive debates US-UAE business Council Fin Tech delegates our... At £150m, down from £183m in the UAE great friend '', a UAE national founded Dubai-based...