“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.”. According to his official biography, Sajwani seems like an ambiti… 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”. Flybe said it cancelled 994 flights in the three months to 31 March, compared to 372 in the same period last year. Chairman of Damac holding Hussain Sajwani attends a Reuters Summit in Dubai March 26, 2007. Damac Properties declined a request to interview Sajwani made by Associated Press. IE 11 is not supported. UAE billionaire Hussain Sajwani, family still own over 85% of firm, DAMAC clarifies. This website uses cookies to improve your online experience. 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. Read more about Hussain Sajwani, Chairman of DAMAC, and his message to investors, partners & customers. Sajwani then travelled to Malta, an archipelago nation off Italy in the Mediterranean Sea, and met with Prime Minister Joseph Muscat. That made Sajwani, who owns over 70 percent of Damac stock, even richer. Disclaimer: This article is provided for informational purposes only. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. Each summer, 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. REUTERS/Mohammed Salem. 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. His father owned a watch shop and also controlled small real estate projects in Dubai. 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. Trump Sons attend Damac family wedding in Dubai. Recently, the firm took over 100 percent ownership of Italian fashion house Roberto Cavalli. Please be respectful when making a comment and adhere to our Community Guidelines. Are you sure you want to mark this comment as inappropriate? 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 … 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”. To get better results, add more information such as First Name, Birth Info, Death Info and Location—even a guess will help. The company previously offered standalone villas at priced from around £1m up to just over £3m. A UAE National founded the Dubai-based luxury estate company in 2002, but his beginnings were far more modest. Have news to share? Only 3% of company's shares, not 34%, have been sold to foreign investors. Hussein Sajwani outlines his close ties to Ivanka and says he hopes to do more business with the president-elect's children. 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. Celebrating iftar at home with diplomats and consular representatives to the UAE. All Rights Reserved. From a tender age, Sajwani knew he did not want to follow his father’s footsteps and join the family business. That restless energy has seen Sajwani orchestrate some of the boldest schemes in the country. 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. Read our full disclaimer policy here. Ali Hussain Sajwani is a graduate of North Eastern 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). 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. The chief executive, Mark Anderson, said: “Europe’s largest independent regional airline has been unable to overcome significant funding challenges to its business. 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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. 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 … "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. 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. 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 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. This week Damac Properties launched a new set of Trump-branded duplex villas, priced from £624,000, including three years’ golf course membership. 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. 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. For instance, if data shows that a viewer is a fan of pepsi, a billboard in the background of a shot would host an advert for pepsi, while for a viewer known to have different tastes it could be for Coca-Cola, In a card sent to Amazon CEO Jeff Bezos on the company's 25th birthday, Labour leader Jeremy Corbyn writes: "You owe the British people millions in taxes that pay for the public services that we all rely on. Find information about the Sajwani family, see the geographical distribution of the Sajwani last name. Want to bookmark your favourite articles and stories to read or reference later? Sajwani is looking to make more acquisitions overseas and expand his portfolio. 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. 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 currently pursuing his Level 3 CFA certification while overseeing day-to-day operations at global property developer, DAMAC Properties. 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. However, the company isn't issuing shares, but rather, shares held by Spotify's private investors will be sold. However, economies overall have slowed across the Middle East amid a glut in global oil prices. Hussain Sajwani is third richest man in the UAE. He was born into a conservative, middle- class family of Dubai. With the US-UAE Business Council Fin Tech delegates at our home. Hussain Sajwani is the founder and Chairman of global property development company DAMAC Properties. You can also choose to be emailed when someone replies to your comment. Read our full mailing list consent terms here. Sajwani genealogy and family history facts. 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. He is a graduate of Northeastern University in Boston, Massachusetts, where he majored in Economics. Sajwani also visited tourist towns along the coast of the Adriatic Sea, according to a Damac statement at the time. Please pay your fair share", The government has announced that it would slash almost all tariffs in the event of a no-deal Brexit. Email us at editorial.zawya@refinitiv.com, or send us your company press releases to pressrelease.zawya@refinitiv.com. As of this week, it has started selling Trump-branded villas on the Trump golf club estate in Dubai. The card will work by recognising the user's fingerprint, High-end slipper retailer Mahabis has gone into administration. Born to an entrepreneur father, Hussain Sajwani sold watches in […] Start your Independent Premium subscription today. He received his undergraduate degree in economics from the University of Washington. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. Screen, analyze and compare projects in the Middle East and North Africa across Infrastructure, Real Estate, Industrial and Energy sectors with Refinitiv’s Eikon. 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. 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 most insightful comments on all subjects will be published daily in dedicated articles. They were placed on your computer when you launched this website. Hussain Ali Habib Sajwani was born in the year 1954. Damac Holding chairman Hussain Sajwani started work at his father's shop in the Deira Souq at the age of 3. 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. Edit your search or learn more 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. Hussain Sajwani, chair of Dubai’s DAMAC Properties, said he would welcome the chance to expand his firm’s relationship with Trump. Copyright © 2021 Zawya. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. 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). “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. 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. Are you sure you want to delete this comment? Hussain Sajwani grew up in Dubai in a middle-class family focussed on selling. 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. According to Forbes, Hussain Sajwani is the world’s tenth richest Arab, with an estimated net worth of $3.7bn. 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. Crown Prince, Trump sons attend Sajwani family wedding. Enter Sajwani’s Damac Properties. ​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. 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. Both Croatia and Malta are members of the European Union, which Emirati citizens have been able to travel to without visas since 2015. Ali Hussain Sajwani oversees 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. Chairman of Damac holding Hussain Sajwani attends a Reuters Summit in Dubai March 26, 2007. Hussain Sajwani is the chairman of Dubai-based luxury real estate developer Damac Properties, which he founded in 2002. Hussain Sajwani has an extraordinary story. Sajwani wanted to earn a degree in order to pursue his career as a white collar professional. You can change your cookie settings through your browser. Damac Properties was the Arab world’s fourth biggest public company in 2017, with Emaar its only real competitor in terms of scale. 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. 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. He had a keen desire to acquire knowledge. But that would be a dream – to grow Damac with its iconic brands around the world.”. (Reporting by Cleofe Maceda; editing by Mily Chakrabarty). Born in 1954, Hussain Ali Habib Sajwani grew up in Dubai. You can find our Community Guidelines in full here. “It’s a very effective method of branding,” Kassabieh said. Quickly uncover hidden opportunities with comprehensive data and content. 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). It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. 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. 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. 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. 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