Corporate governance

Hussain Sajwani, Owner of DAMAC Properties

Hussain Sajwani

FOUNDER

Hussain Sajwani, a UAE national, is the founder of global property development Company, DAMAC Properties.

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). After a short period, he established his own business and in 1982 started his own catering venture.

Hussain Sajwani, a UAE national, is the founder of global property development Company, DAMAC Properties.

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). After a short period, he established his own business and in 1982 started his own catering venture.

From modest beginnings, the catering division has grown from strength to strength and today is a market leader managing more than 200 projects and serving over 150,000 meals daily in a number of markets including the Middle East, Africa and the CIS. In addition to servicing construction campsites, army camps, educational institution, five-star hotels and onshore/offshore locations, the division specialises in providing ancillary services like camp management, maintenance and manpower supply.

Sajwani was also one of the pioneers of the property market expansion in Dubai. In the mid-90s, he built several hotels to accommodate the growing influx of people coming to the emirate to do business and trade. In 2002, he identified the market opportunity and established DAMAC Properties, which has grown to become one of the largest property development companies in the Middle East.

Sajwani’s know-how and expertise in the field of property development from marketing, sales, legal, finance, and administration is one of the key drivers of the Company's success and today, DAMAC Properties has several prestigious projects in key global cities like Dubai, Abu Dhabi, Doha, Amman, Beirut, Jeddah, Riyadh and London.

DAMAC Properties, which employs nearly 1,400 employees, is a publicly-listed company with shares traded on the Dubai Financial Market. The Company has one of the best track records in the luxury property development market and to date has delivered over 30,000 homes, with a development portfolio of over 34,000 units at various stages of planning and progress.

As a leading brand in the market, DAMAC Properties has joined forces with some of the most recognisable fashion and lifestyle brands to bring new and exciting living concepts to the market. Projects include a Tiger Woods designed golf course, which will be managed by The Trump Organization, luxury homes with interiors by Italian fashion-houses Versace Home and Just Cavalli, and uniquely conceptualised hospitality offerings from Paramount Hotels & Resorts, Rotana Hotels and Radisson Hotel Group to deliver serviced living at its most opulent.

In October 2011, DAMAC Properties launched its hospitality division ‘DAMAC Maison’, which will provide bespoke services to residents in more than 15,000 serviced hotel rooms and hotel apartments. This will position the Company as one of the largest hotel apartment operators and developers in the region.

The extraordinary growth of DAMAC can be attributed to the vision and entrepreneurial skills of Sajwani. Listed among the 100 most globally influential Arabs, he has the proven capability to transfer a business vision into corporate reality; and to provide the leadership necessary to maintain continuity and growth.

As an astute businessman and investor, Sajwani also has a proven track record of successful forays into the global equity and capital markets. He currently holds investment portfolios of securities in a number of regional and global markets.

DICO Investments Co LLC is his flagship investment Company. This Company focuses on investments in private equities, mergers, and acquisitions and holds the majority and minority holdings in publicly traded companies and are always looking for value propositions in the global and regional investment spheres.

Other areas of business interest for Sajwani are in the world of trading, such as Al Amana Building Materials, based in Oman, that represents world-famous names like Villeroy & Boch, Grohe and Dorn Bracht, to name a few. Further business interest in this field in his portfolio is Al Anwar Ceramic Tiles Co, the first and one of only two tile manufacturers in the nation.

Another key investment initiative for Sajwani regionally is Al Jazeira Services, listed on the Muscat Securities Market with a capitalisation of over US$ 110 million. The Company was listed in 1997 and since then has produced impressive results in changing market conditions.

Sajwani has also served as a member of several boards including the Majan University College in Muscat Oman, JUNO Online in New York and Emirates Takaful Company in Abu Dhabi.

Sajwani lives in Dubai with his wife and four children: Ali Sajwani, Amira Sajwani, Abbas Sajwani and Mehdi Sajwani

For more information please visit www.hussainsajwani.com

Farooq Arjomand

Farooq Arjomand

Chairman of the Board of Directors

Mr Arjomand received his Bachelor of Business Administration (BBA) from Seattle Pacific University in the United States in 1984. He began his career as a banker at HSBC in 1985 and gained extensive experience of private banking, corporate finance, trade services and investment banking.

Mr Arjomand received his Bachelor of Business Administration (BBA) from Seattle Pacific University in the United States in 1984. He began his career as a banker at HSBC in 1985 and gained extensive experience of private banking, corporate finance, trade services and investment banking.

Mr Arjomand founded the Arjomand Group of companies in 2000. The Group conducts various activities including real estate, manufacturing, trades, financial activities and aviation across the GCC, Asia, Europe and the US. Mr Arjomand is also a board member of Al Ahlia Insurance Company BSC, Bahrain.

Mr Sofyan Al Khatib

Sofyan Al Khatib

NON-EXECUTIVE DIRECTOR

Mr Al Khatib has over 37 years of experience in the catering and hospitality industry in the Middle East. He graduated with a Bachelor’s degree in Business Administration from the University of Jordan in 1980.

Mr Al Khatib has over 37 years of experience in the catering and hospitality industry in the Middle East. He graduated with a Bachelor’s degree in Business Administration from the University of Jordan in 1980.

Mr Al Khatib has been the Group Director of Global Logistic Services Company Co. LLC since 1989. The company specialises in comprehensive solutions for engineering, procurement and construction (EPC) and provision of catering and support services for clients in a number of industries including oil and gas, hospitality and educational institutions, amongst others. In his role, Mr Al Khatib oversees the business development and operating strategies of the business, which spans the MENA region, and is responsible for its sustained profitability. 

Prior to this role, Mr Al Khatib held several managerial positions with catering companies in Saudi Arabia, where he was charged with the sales and marketing efforts, sales network expansion, achieving sales revenues targets and control of operations of regional projects.

Mr Al Khatib is currently on the board of a number of private and public companies in MENA, including Al Anwar Ceramics Tiles Company SAOG and Al Jazeira Services Co SAOG, and is Chairman of SAK Investments Limited. 

Yahya Nooruddin

Yahya Nooruddin

Non-Executive Director

Mr Yahya Nooruddin has over 20 years’ experience in local and regional financial markets, with a proven track record of building organisations and leading them to the forefront of their respective industries. He holds academic and professional degrees in the areas of marine engineering, law and financial management, including a master’s degree in law from the Beirut Arab University.

Mr Yahya Nooruddin has over 20 years’ experience in local and regional financial markets, with a proven track record of building organisations and leading them to the forefront of their respective industries. He holds academic and professional degrees in the areas of marine engineering, law and financial management, including a master’s degree in law from the Beirut Arab University.

Mr Nooruddin is currently the Chief Executive of T’azur, which provides Family and General Takaful products for individuals and businesses. Prior to joining T’azur, hewas CEO of the Al Imtiaz Investment Company in Kuwait from 2008 to 2011, following 12 years at Al Ahlia Insurance Company.

Ali Malallah Binjab

Ali Malallah Binjab

Vice-Chairman of the Board of Directors

Mr. Binjab received his bachelor's degree in Finance from the University of Houston in the United States in 1980. He began his career in the banking industry 10 years prior, working as Assistant Manager at the Bank of Oman. Since then, he’s held several positions in the banking world,  including Senior Dealer at Union Bank in Dubai and Senior Branch Manager at Emirates NBD.

Mr. Binjab received his bachelor's degree in Finance from the University of Houston in the United States in 1980. He began his career in the banking industry 10 years prior, working as Assistant Manager at the Bank of Oman. Since then, he’s held several positions in the banking world,  including Senior Dealer at Union Bank in Dubai and Senior Branch Manager at Emirates NBD.

Mr. Binjab holds over 70 certifications in the fields of Business Administration and Finance and has extensive experience in private banking, corporate finance, trade services and investment banking.