In the last one decade, businesses and the world economy have been rocked by some of the most challenging factors. It all started with the financial crisis in 2008 and just as the markets recovered from this hit came Trump administration’s trade tariffs and tiffs against a dozen other major global economies, Brexit challenge in Europe and China’s reaction to United States economic sanctions.
These haven’t favored multinational tradesmen like the Damac owner, Hussain Sajwani. This however hasn’t stopped from planning projects, pushing on with existing ones and doubling down on luxury property development in Europe. But how does he remain unshaken in the face of all this uncertainty:
Markets always change
Asked about keeps him going despite the many uncertainties, Hussain Sajwani alludes to the clinging on the hope that things will always get better. He believes that just like the dot-com bubble, financial crisis and Middle East wars ended and markets stabilized, the current political tremors affecting the market won’t last forever. The Damac owner, who has deep ties with the Trump Organization, supports President Donald Trump’s reaction to Chinese one-sided trade deals. He believes that free trade is the key to the success of the global economy.
More than just profits and net profit
Damac properties reported a 33 percent decline in the last quarter profits. The company shares, in turn, took a similar plunge slashing the Damac owner’s net profit by over a quarter by bringing it down to $3.6 Billion. But Hussain Sajwani argues that profit and net profits slumps aren’t enough to force him to back down on his future plans. Pointing to the lives that depend on the sustainability of his company as well the need to grow his brand further, the Damac owner argues that there is more to his business interest than profits and net profit.
More about Sajwani
Hussain Sajwani was born in Dubai but would soon leave for the United States after receiving a scholarship to study at Washington University. He, however, came back to the city after graduation and started a catering company, Global Logistics Services, which eventually birthed Damac properties. Today, the real estate company is recognized as one of the fastest growing companies in the world.