DAMAC Properties Boss Named Middle East Property CEO of Year

September 15, 2013

Hussain Sajwani Recognised for ‘Outstanding Success, Innovation and Ethics.’

Chairman of DAMAC Properties, Hussain Sajwani, was named Middle East Property CEO of the Year last week.

The Emirati entrepreneur, who set up the company in 2002 and developed it into one of the most successful luxury developers in the region, was honoured for leading resurgence in the real estate market and helping to attract international investment in Dubai.

The awards, which recognise ‘outstanding success, innovation and ethics across Middle Eastern Business,’ were presented to leading entrepreneurs at Jumeirah Emirates Towers during a VIP gala dinner.

“I am humbled to be accepting such a well-regarded award on behalf of everyone who has helped position DAMAC Properties as a leading luxury developer in the region,” said Hussain Sajwani, Chairman, DAMAC Properties. “We have always maintained a strong confidence in the real estate market in Dubai, and it is a great honour that the fruits of our labour are recognised by our peers.”

“We have a great deal of work still to do, as we look to provide our unique luxury living lifestyle in Dubai and the rest of the Middle East,” he added.

DAMAC Properties’ 28 million square foot ‘AKOYA by DAMAC’ master plan development off Umm Sequim Road, which will include mansions, villas and luxurious apartment units, was highlighted for particular praise by the panel.

The project, which will house the Trump International Golf Club, Dubai, was marked as a key development in reinvigorating the market and instilling renewed confidence in international investors who are returning to Dubai.

DAMAC Properties has taken a leadership position in the real estate market in Dubai, continuing to announce new projects and global brand collaborations – a key element which has seen prices rise by as much as 21.7% over the past year in the Emirate, according to the latest figures by property consultancy Knight Frank. It means prices of prime properties in Dubai are rising faster than anywhere in the world.

DAMAC Properties has recently launched a number of luxury serviced hotel apartments in the Burj Area of Dubai with Paramount Hotels & Resorts as well as private apartments in Dubai Marina with Italian fashion house FENDI. The company’s most recent launch was AKOYA by DAMAC, a fully-integrated master development which will offer stunning views of the 18-hole, Championship golf course being managed by Trump International.

DAMAC Properties has completed 8,887 units to date spanning 9.1 million sq. ft. it also has a further 23,788 units at various stages of progress and planning across the Middle East region covering 28.6 million sq. ft.