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Perseverance and Drive Led Hussain Sajwani, DAMAC Owner, to the Top…Twice

What does one do when they have worked hard to reach the heights of success, and have the world at their fingertips only to have it all come crashing down without warning? For most people, this would be devastating, and they would just give up and fade away into obscurity. For a man like Hussain Sajwani however, when this occurred this wasn’t a life-shattering defeat, it was a challenge. Hussain Sajwani, the colorful and sometimes boisterous DAMAC Owner, has never been one to shy away from a challenge, in fact, he thrives on them and has his entire life. It was this drive to always be better than the current version of himself that led him from humble roots to being one of the richest, most powerful, and most recognizable men in the world.

According to, Hussain Sajwani is the son of a shopkeeper and a housewife. His early days have been well chronicled to be sure. Also well-known is the way that he rose to the top of the real estate development market and became a very wealthy man by taking chances and being a shrewd and calculating businessman. What many do not know is the quiet story of how he almost lost everything and through perseverance, he struggled to not only come back to the top but to be even better than he was before.

The DAMAC Group was enjoying the best position in the market that it had ever had. In addition to the company’s real estate development division, there were many other highly diversified business operations under the DAMAC umbrella. Life was good for Sajwani, his family, his investors and everyone else associated with DAMAC.  As mentioned on Saudi Projects, it seemed as though the golden age being enjoyed might not ever end, of course, no one expected the massive global economic downturn that hit all sectors hard, but especially the real estate development industry. As companies lost value, resources dried up, and projects shut down, the DAMAC Group was no safer than any other development firm. Of course, thanks to the heavy diversification, and the rapid action taken by Hussain Sajwani and his senior team, the damage to the company’s operation and assets was able to be limited and, in many cases, greatly mitigated. It was due to the expert leadership and determination that Hussain possesses that the company was able to turn around its downward trend faster than most others in its class. It was this rapid turnaround that subsequently led to the DAMAC Group being able to position itself to take advantage of the rebound in the market that came as the economy got back on track.

Today, Hussain Sajwani and the DAMAC Group are better heeled than they were even before the global economic crisis, and that is directly attributable to the rapid action taken by Hussain and his skillful administration of the company both before and during the crisis, as well as his positive leadership after the recovery was underway. He is a model example of how one can reach the top only to fall, but also how crucial it is to get back up and climb once more.

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