Hussain Sajwani didn’t always use to have billions to his name. No, the investor has had to work his way up the food chain to become one of the most influential personalities in the Middle East and the US. Today, Hussain Sajwani has a wealth estimated at $3.3B, according to Forbes Magazine. Here are the milestone achievements of the mystery-shrouded UAE citizen running the global conglomerate, DAMAC Properties.
Education and Career
After his formal education in the Middle East, Hussain took to the United States. Hussain got enrolled at the Washington University in the late eighties. He graduated from the Educational School with a top honors BA. Later, upon returning to his native, he sought employment at an Oil Company, GASCO. Dissatisfied by the pay as a manager, he quit his job and ventured into the catering business.
Catering turned out to be quite the lucrative business for the young Sajwani. Eventually, the entrepreneur switched jobs again, this time heading into the emerging real estate industry. Before the 90’s, foreigners weren’t allowed to own land in the Emirates. When that rule got overturned, Hussain Sajwani family were among the pioneers who capitalized on the frenzied demand which followed.
Quick Fact Sheets on DAMAC Properties
Founded in 2001
Has above 2000 employees
It went public on the LSE on early 2015
It has sold close to 20K units
Damac reported a revenue of $1.94B in 2016
His latest project grabbed lots of media attention because it was a collaborative effort featuring Damac owner, Hussain Sajwani and the President of the USA, Donald Trump. The billion dollar project culminated into the Damac Akoya residential properties getting launched. The crown jewel of the residential project is the International Trump Golf Course designed by Tiger Woods and other revered architects.
Hussain keeps on scooping prestigious prizes and accolades for his outstanding contribution to the professional world. These include:-
Ranked in the top 100 most influential Arabs
Top CEO Award’s winner in real estate realm (2017)
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When people talk about New Jersey, they talk about Governor Chris Christie and his bad choices. Some people say Christie is the worst governor on record, but there are a few people that still stand by him. Other people talk about Rutgers, the state university in New Brunswick, or they mention Johnson and Johnson, one of largest family-owned corporations in America. But there is a new topic running around the conversation mill these days. Sam Boraie and Boraie Development are getting a lot of attention for bringing some of the worst urban areas in the United States back to life. Boraie Development started their urban renewal project in the 1970s, in New Brunswick, New Jersey. New Brunswick’s downtown area looked like a shell-shocked town in the Middle East before Boraie Development started to building office space on Albany Street. But when people see downtown New Brunswick now, all they see are New York style office and residential buildings that were built and then managed by Sam Boraie and his siblings.
Every detail is considered when Sam and his staff start a new office or residential project on njbiz.com. The list of completed projects in New Brunswick is a testament to the kind of work Sam and his family stand behind. The Albany Street Plaza One and Plaza Two buildings are late century and new century architecture. The Aspire residential building is the epitome of luxury living, and One Spring Street building is another work of residential art.
Sam Boraie is proud of all the development projects in downtown New Brunswick, but the work the company did in Newark has a lot of people talking. Sam partnered with Newark native Shaq O’Neil, and they developed the One Riverview residential building in Newark. One Riverview brought people back to Newark to live. Even New Yorkers found the building attractive and convenient. The Rector Street development is another O’Neil and Boraie project is Newark.
When Sam Boraie’s name is mentioned in New Jersey, the conversation is not just about the building Sam develops, manages and rents. Sam is very active in the nonprofit organization, Elijah’s Promise and the New Brunswick State Theater. Boraie sits on the Advisory Board of Elijah’s Promise, and he is a member of the State Theater board as well. Both of those organizations are known for the work they do in the educational system as well as for programs they implement that help people learn how to live life without regrets. Source: http://www.nytimes.com/2005/03/06/realestate/at-two-extremes-of-a-housing-market.html?_r=0
Atlantic City is another New Jersey City that is benefiting from the Boraie touch. Boraie is building a $100 million residential complex called the Beach at South Inlet not too far from the famous Atlantic City boardwalk. Atlantic City needs more luxury accommodations. This new Boraie residential project will help attract more full-time residents to the city, according to Sam Boraie.
Town Residential opened their doors in 2010. This brokerage firm for real estate was began by CEO, Andrew Heiberger. The firms specialty is residential. Joseph Sitt co-chairs the firm.
Town Residential has started another location in the meat packing area of Manhattan. This is the companies tenth location, opened in just three years’ time. This beautiful office brings into focus the residential areas all along the Hudson. It is assumed the brokers will be taking their prospective clients right along the high line. This new area is also conveniently located quite close to story High Park.
Town Residential has the second story under lease. This space measures an amazing 7,100 square feet and is included in a deal that was made for a period of fifteen years. This amazing building has ceilings that are sixteen feet high, and a private deck area at the very top. Although Mr. Heiberger has become known for his unique flair, he has truly outdone himself with this venture.
This is the only area with the extravagance of having a perfect place for the brokers to meet with their clients. This is also partly what sets Town Residential in a category of their own. Thomas and Ingram, a firm who focuses solely on the West Village is taking their cue from Town Residential and acquiring space in the meat district as well. One of the little offices operated by Town Residential is moving into the new area.
This office is in an area that has been called one of the cities hottest and is located by the entrance to the high line. This area is experiencing constant growth because of the condos that have been built throughout the park. The entire west side is solid neighborhoods, and the new office is set right in the middle of it all. This new locations will extend business from Hudson Yards and go all the way to Tribeca.
This is not the first highly visible location opened by Town Residential. There are several other very prominent locations. The rents have not been released but as popular as this area has become, they will not be inexpensive to acquire. This applies to both the possible tenants and the business owners.
Thor Equities is Town Residential main investor. It was this relationship that made it possible for the securing of this incredible space.