When housing development took a turn for the worst in Dubai recently, Hussain Sajwani was ready for it and posed his company to take the hit while continuing to complete projects they were involved in. He saw that the market was beginning to take a downward turn and waited for more investors to come into the country to restart his ventures. His company, DAMAC, has been developing housing and golf club projects throughout Dubai. The housing includes mansions, villas and apartments. Most of them are situated around a central golf course which Hussain Sajwani believes is the best amenity to have. Many of the people in the country and those who are relocating to it are avid golf players and this is a definite draw to his communities.
Saudi Projects quoted that DAMAC has now produced two of these luxury developments and is planning on several more projects in the near future. The housing demand in Dubai is rising daily with the influx of foreigners investing in the country. Many major corporations have relocated their headquarters to Dubai and this brings with it needs for more housing. DAMAC and Hussain Sajwani are ready to move forward to deliver what is needed. In the few short years it has been in operation, Hussain has seen his company grow to become one of the biggest in this field. He credits much of his success to his partnership with several American organizations.
The housing market is beginning to recover from the crash but there is much work that still needs to be done. The DAMAC owner feels that the mortgage lenders rules and regulations are continuing to stop people from making purchases. He is actively trying to change these things and is developing other types of lending practices to offer to his clients. Hussain Sajwani sees a bright future for his company and has projected sales to double within the next five years. Many people are following the growth of this company and are beginning to model their own plans after DAMAC.