Hussain Sajwani is a Dubai billionaire that owns and founded DAMAC Properties. He has lived his whole life in Dubai and has made his living there. He graduated from the University of Washington and quickly went to work learning about construction and property value. With his savvy ability, he founded DAMAC and has never looked back. In a recent interview, the DAMAC owner said that turmoil in the Middle East is actually good for property in Dubai.
Hussain Sajwani was interviewed by CNBC and said that when turmoil has happened in the Middle East it is good for Dubai. The DAMAC owner stated two prime examples. The first example comes from the conflict between Iraq and Iran that been occurring for many years. He said it was good in that case because people from both countries would emigrate to Dubai in order to be safe. During an eight-year period where the war was intense, the trade increased dramatically between Dubai and Iran.
Hussain Sajwani points out another example. This occurred in the early 1990’s when Iraq invaded Kuwait under Saddam Hussein. He points out that many Kuwaitis fled the country and came to Dubai to start over again. More than seventy thousand people came to Dubai. The DAMAC owner said that this was a good move for Dubai because property values have increased and that makes him one of the most lucrative property owners in the world today.
A final example that Hussian Sajwani points out is the collapse of Somalia. More than thirty-five thousand people migrated to Dubai due to the close proximity of the country and their security. The majority of Somalis that live in the region have started their own businesses increasing property values even more.
This proves that Hussian Sajwani is one of the savviest men in the business. It proves the old adage about location, location, and location. Dubai is the perfect spot to directly benefit from the battles in the Middle East. It is in the perfect place and position to help those who need the help the most. Hussain Sajwani definitely knows that.