The luxury real estate markets have been developing across the Middle East in the 21st-century with DAMAC Properties one of the fastest growing in the area despite the lack of experience owner Hussain Sajwani had when founding the company in 2002. A food services company founder and expert in the hospitality industry, Hussain Sajwani has spent the last few years concentrating on the development of the luxury markets in the Middle East and Europe; the European markets have been opened up through the development of the AYKON One London tower which has been created to enhance the brand in one of the world’s truly international cities.
Developing the luxury real estate markets in Dubai came at a time in 2002 when the ownership of property in Dubai was finally opened up to non-nationals who were becoming a greater part of the UAE community. Over the course of his career in the luxury real estate industry, Hussain Sajwani has spent a large amount of his time creating a range of options in both horizontal and vertical real estate for those who wish to live in a community-style resort.
The first development of DAMAC Properties was a 38-story luxury apartment block in an area of Dubai which was largely undeveloped at the time it was created; despite not being positioned in what was thought to be a sought after part of the city the development sold out long before ground was broken on the development. Hussain Sajwani had announced himself on the Dubai luxury real estate scene and would follow this in 2013 with international recognition based on a partnership agreement signed with the U.S. President Donald Trump. The partnership between the two real estate moguls began long before Donald Trump revealed his ambitions to become the U.S. President and has resulted in the development of two of the best-reviewed golf course resorts in Dubai. Further deals are planned by Hussain Sajwani with the Trump organization but the final stages of a $2 billion deal will have to wait until the President has completed his term in office.