DAMAC owner, Hussain Sajwani is a famous man both internationally and in the Gulf Region. He not only has ties with President Trump of USA but also has interests of expanding into China. According to Forbes 2018 size up, Hussain Sajwani ranks as the fifth richest Arab in the globe.
Hussain’s real estate empire journey started in 1982. He first ventured into catering before establishing DAMAC Properties in 2002. DAMAC properties are constituent of DAMAC group. In 2013, it was the leading Middle East Company to list on London’s stock exchange. Later in 2015, DAMAC Properties indexed on Dubai Financial Market.
Unlike others, DAMAC Owner sees positivity despite the regional turmoil surrounding them. When there is a commotion in neighbouring areas, people rush to Dubai. Hussain Sajwani cites how Dubai’s relationship with Kuwait grew, both politically and economically, after the Kuwait-Iraq warfare in 1990. Somali’s collapse also put Dubai on the gaining side. Eventually, most economic activities took part in Dubai because of its favourable environment.
Dubai, the jewel of UAE, is one of the advanced cities in the world. The place is safe and developed. Currently, the city is aiming to design the world’s first passport-free airport. Another goal is to create a government powder using blockchain technology. In Dubai, residents buy government goods and services and access them through selected outlets. They do this using EmCash, a leading government-backed cryptocurrency.
The city is an investment hub that has strong relations with its oil-focused neighbours. Although safe, the city-state receives criticism for imposing harsh capital punishments in events of criminal activities. The city continues to grow connections in the Middle East and at the global level. Recently, CNBC started a studio during the Dubai International Financial Center at Nasdaq Dubai.
According to CNBC spokesperson, Dubai’s presence has matured. He believes the addition of a new studio will enhance business coverage in the Middle East. Rivaling domains like Hong Kong, London, and New York have competition. Dubai is on its way to becoming the world’s first highest financial hubs. Besides, the city-state serves as a communication gateway between the Middle East and the remaining world.
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