Hussain Sajwani: Dubai Billionaire and Real Estate Pioneer
Hussain Sajwani is an Emirati billionaire entrepreneur best known as the founder and chairman of DAMAC Properties, one of Dubai’s most prominent luxury real estate developers. He has played a significant role in shaping Dubai’s property market and expanding its global footprint.
Early Life and Career Beginnings
Sajwani was born in the early 1950s in the United Arab Emirates and is a UAE national. He earned a bachelor’s degree in economics from the University of Washington in Seattle. After graduating, he returned to the Gulf and started his own businesses, initially in food services. His catering company grew to serve major clients, including the U.S. military and large construction firms.
Founding DAMAC Properties
In 2002, after Dubai opened up its property market to foreign ownership, Sajwani established DAMAC Properties. The company focused on luxury residential and commercial real estate, capitalizing on Dubai’s rapid growth as a business and tourism hub. In its first project, units were reportedly sold in less than six months - a sign of the strong demand for high‑end properties at the time.
Under his leadership, DAMAC has developed tens of thousands of homes and commercial units and created large mixed‑use communities. The firm also forged high‑profile collaborations with global luxury brands such as Versace, Cavalli, and Bugatti for branded residences, enhancing Dubai’s reputation as a centre for luxury living.
Dubai and Global Expansion
Although DAMAC is based in Dubai, its projects extend beyond the UAE. The group has had developments in Saudi Arabia, the United Kingdom, the United States, and other international cities. It also expanded into related sectors such as hotel management, operating properties under partnerships with brands like Radisson and Paramount Hotels.
In the 2010s, DAMAC briefly listed publicly - first on the London Stock Exchange and later on the Dubai Financial Market - before Sajwani took the company private again in 2022 by acquiring the remaining shares.
Net Worth and Recognition
As of early 2026, Sajwani’s net worth was estimated at around $10.2 billion, placing him among the world’s wealthiest individuals and one of the richest Arabs, according to Forbes’ billionaire rankings.
Philanthropy and Broader Interests
Beyond real estate, Sajwani and his group have diversified interests. These include investments in data centres, luxury fashion and jewellery brands (such as Roberto Cavalli and de GRISOGONO), and private equity markets.
He is also involved in philanthropic initiatives through the Hussain Sajwani - DAMAC Foundation, which supports education and technology learning programs in the Arab world.
Legacy in Dubai
Sajwani’s business journey mirrors much of Dubai’s transformation over the past two decades, from a regional trading port to a global city known for luxury real estate, tourism, and investment. His work with DAMAC has left a visible imprint on the skyline and helped bolster Dubai’s appeal to international investors.
Photo credits: Forbes. Hussain Sajwani
Oksana Bozhko is a Contributor to Dubai Voice.
Oksana Bozhko
Vladyslava Garkusha
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