DAMAC owner Hussain Sajwani met with analysts from CNBC during an interview at the World Economic Forum, and he had some very positive things to say about where he and President Trump stood, and about how his company’s property Trump International Golf Club was doing.
Sajwani said that the announcement from Trump to move the US Embassy from Tel Aviv to Jerusalem had no effect on the company’s sales, and he even said he believes sales have gone up at the resort over the last year. Read more: Hussain Sajwani | Crunchbase and Hussain Sajwani | Forbes
The Trump brand will continue to remain strong at DAMAC Properties and Sajwani said he may look to do deals with the Trump organization at properties within North America. Sajwani also mentioned that he could be selling up to 15% of DAMAC’s ownership shares to bring the company cash flow.
The Hussain Sajwani family has known the Trumps for a while with his wife being friends with the current first lady Melania, and his children being friends with Eric, Donald Jr. and Ivanka. But even before formed the partnerships leading to the Trump International Golf Club development, Sajwani has served US clients such as the US Army back when he was the owner of a catering company from 1982 to the early 1990s.
That catering business led to his decision to go into real estate because of the luxury hotels he supplied the food for, but he merged that catering business into his own hotels when he started buying them in the 1990s.
Hussain Sajwani started building his company portfolio when he started DAMAC Investments which was later renamed DICO Investments, and then he bought several small properties and bought Al Amana Building Supplies and Al Anwar Ceramic Tiles.
His first two big projects that were done in partnership with Versace at Marina Terrace and then the company main headquarters at DAMAC Tower in Dubai. Learn more about Hussain Sajwani: https://twitter.com/hussainsajwani
A second DAMAC Tower was later built in Beirut. Sajwani has recently opened an establishment of vacation villas in a project collaborating with the Roberto Cavelli Group, and he’s also laid the foundation for AYKON City, a massive high-rise establishment within Dubai that will have a series of hotels and clubs. Sajwani has also won awards such as “CEO of the Year” from Arabian business organizations.