{{#verifyErrors}} {{message}} {{/verifyErrors}} {{^verifyErrors}} {{message}} {{/verifyErrors}}, New conflict questions over Trump company's links to Dubai billionaire, Merck shares rise despite Trump threat over ‘rip-off’ drug companies, Trump’s conflicts of interest make US seem like a ‘kleptocracy’, House Oversight Committee ‘unlikely’ to investigate Trump, Trump’s conflict of interest problem isn’t going away, You may not agree with our views, or other users’, but please respond to them respectfully, Swearing, personal abuse, racism, sexism, homophobia and other discriminatory or inciteful language is not acceptable, Do not impersonate other users or reveal private information about third parties, We reserve the right to delete inappropriate posts and ban offending users without notification. Born in 1954, Hussain Ali Habib Sajwani grew up in Dubai. Then in July, Sajwani visited Croatia and met with president Kolinda Grabar Kitarovic. Sajwani’s trips to Europe – as well as a recent deal in Oman – show that Trump’s business partner in Dubai wants to expand his development empire beyond the Middle East, and a tower which is under construction in London. In a statement to the Dubai Financial Market (DFM) on Wednesday, the developer said foreigners hold only three percent of all company shares, while the biggest chunk of the shares, around 72 percent, still belong to Sajwani. He is a graduate of Northeastern University in Boston, Massachusetts, where he majored in Economics. Hussain Sajwani is the founder and Chairman of global property development company DAMAC Properties. Edit your search or learn more The British firm said Gemalto was chosen only because it undercut the competition, but the UK company also admitted that it was not the cheapest choice in the tendering process. However, economies overall have slowed across the Middle East amid a glut in global oil prices. Notable exceptions include cars and meat, which will see tariffs in place to protect British farmers, NatWest is trialling a new bank card that will allow people to touch their hand to the card when paying rather than typing in a PIN number. The future of pay day lenders is in doubt after Wonga, Britain's biggest, went into administration on August 30, Elon Musk has concluded that Tesla will remain public. “Tokyo, Toronto, New York, Paris, I don’t know. And while it remains unclear how Sajwani trades on his Trump ties in private meetings with foreign leaders, advertising and marketing by Damac prominently features Trump. The Beast from the East wiped £4m off of Flybe’s revenues due to flight cancellations, airport closures and delays, according to the budget airline’s estimates. “The company wishes to clarify that… 72.2 percent of total company shares are held by founder and chairman Hussain Sajwani (18 percent are held by him through companies registered in foreign jurisdictions, and the balance 54 percent are held onshore),” DAMAC said. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. It was reported last week that more than a third (33.82 percent) of the company, representing a little over two billion shares, are owned by “foreign investors”. Trump Sons attend Damac family wedding in Dubai. That made Sajwani, who owns over 70 percent of Damac stock, even richer. Hussain Ali Habib Sajwani was born in the year 1954. Damac announced results Monday that put its second-quarter earnings at £150m, down from £183m in the same period last year. Damac “continues to look at the investment opportunities” in Croatia, primarily along the Adriatic, said Vedrana Likan, the managing partner of Colliers’ Croatian arm. ​Sajwani wholeheartedly embraced Trump, even as the US presidential candidate’s campaign saw him call for a “complete shutdown” of Muslims coming to the US. Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. Hussain Sajwani is the chairman of Dubai-based luxury real estate developer Damac Properties, which he founded in 2002. Find information about the Sajwani family, see the geographical distribution of the Sajwani last name. Disclaimer: This article is provided for informational purposes only. This week Damac Properties launched a new set of Trump-branded duplex villas, priced from £624,000, including three years’ golf course membership. Damac share prices have nearly doubled from 2.17 dirhams (46p) a share on the day of the US election in November, to a high of just under £1. Hussain Sajwani, chairman of Dubai’s largest private sector property developer, is on a mission to persuade the world that he – like his home town – is back. The local branch of Colliers International, a commercial real estate firm based in Toronto, said it organised the three-day trip for Sajwani, trying to pitch him on developments on the Istria peninsula and Central and Southern Dalmatia. Hussain Sajwani, a UAE National, is the founder and Chairman of global property development company, DAMAC Properties and founder and Chairman of the DICO Group of Companies. A post shared by Hussain Sajwani (@hussainsajwani) on May 16, 2017 at 4:56am PDT And Donald Trump Jr. visited Sajwani in Dubai last May, according … In Oman he signed a deal in June with the state-run Oman Tourism Development Co. for Damac to help redevelop Port Sultan Qaboos in Muscat, a project valued overall at $1bn (£773m). With my father Hussain Sajwani & Mr. Michael Milken, Chairman of the Milken Institute. “It’s a very effective method of branding,” Kassabieh said. Suhoor at home, May 2019. “In total, circa 34 percent of all company shares are held through companies in foreign jurisdictions and therefore, the balance 3 percent of all company shares are owned by foreign investors,” it added. From modest beginnings, he has become a self-made billionaire, recognised as one of the most powerful Arabs in the world.. Sajwani is Founder & Chairman of the DAMAC Properties, a global business with revenues of over $1.6bn and 2000+ employees which has delivered over 25,000 homes and has a development portfolio of over 40,000 units. Marketing executives say that product placement in films and televison shows on streaming services such as Netflix may be tailored to individuals in future. That restless energy has seen Sajwani orchestrate some of the boldest schemes in the country. However, the company isn't issuing shares, but rather, shares held by Spotify's private investors will be sold. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. All future flights on the Exeter-based airline have been cancelled – leaving more than 2,300 staff facing an uncertain future, and wrecking the travel plans of hundreds of thousands of passengers. Damac Holding chairman Hussain Sajwani started work at his father's shop in the Deira Souq at the age of 3. In February, Trump’s sons Eric and Donald Jr. opened the Trump International Golf Club in Dubai, the first of two to be built in the kingdom by Sajwani. Damac Properties founder and chairman Hussain Sajwani’s arranged the marriage party of his daughter Amira Sajwani over the weekend, and among the chief attendees at this marriage ceremony were Dubai Crown Prince Sheikh Hamdan and two eldest sons of US president Donald Trump, Eric and Donald Jnr. You can also choose to be emailed when someone replies to your comment. According to Forbes, Hussain Sajwani is the world’s tenth richest Arab, with an estimated net worth of $3.7bn. IE 11 is not supported. The most insightful comments on all subjects will be published daily in dedicated articles. Both Croatia and Malta are members of the European Union, which Emirati citizens have been able to travel to without visas since 2015. 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). Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Hussain Sajwani grew up in Dubai in a middle-class family focussed on selling. Are you sure you want to delete this comment? But that would be a dream – to grow Damac with its iconic brands around the world.”. The company previously offered standalone villas at priced from around £1m up to just over £3m. Hussain Sajwani met with leaders in the two European nations and addressed local journalists, many of whom made reference to his ties to President Donald … Airline Flybe has collapsed. 89.9k Followers, 84 Following, 814 Posts - See Instagram photos and videos from Hussain Sajwani (@hussainsajwani) The Trumps have previously described the Damac properties chairman and founder as a "great friend". They were placed on your computer when you launched this website. He is a graduate from the University of Washington, having studied Economics and Industrial Engineering. Email us at editorial.zawya@refinitiv.com, or send us your company press releases to pressrelease.zawya@refinitiv.com. During recent trips to Croatia and Malta, a Dubai-based billionaire and business partner of the Trump Organisation looked more like a head of state himself, mingling with government dignitaries, receiving a presidential reception and visiting the glittering Mediterranean sea. Only 3% of company's shares, not 34%, have been sold to foreign investors. Chairman of Damac holding Hussain Sajwani attends a Reuters Summit in Dubai March 26, 2007. Once reaching office, Trump’s travel ban on six predominantly Muslim countries avoided naming the UAE, a major US ally that hosts some 5,000 American troops and is the US Navy’s busiest foreign port of call. Chairman of Damac holding Hussain Sajwani attends a Reuters Summit in Dubai March 26, 2007. A FEW WEEKS AFTER Donald Trump announced a travel ban on seven Muslim nations, his billionaire real estate partner in the United Arab Emirates, Hussain Sajwani, is a … The move comes after anger at the announcement British passports would be produced by Franco-Dutch firm Gemalto when De La Rue’s contract ends in July. Hussain Sajwani owns a real estate company whose Trump-branded properties are raising eyebrows among the US President’s critics, Find your bookmarks in your Independent Premium section, under my profile. Hussain Sajwani, a billionaire property tycoon who recently snapped up Italian fashion house Roberto Cavalli, has bought 6.8 per cent of the FTSE 100 company. 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). Hussain Sajwani has transformed the desert skyline with luxury apartments and lavish mansions using outrageous marketing strategies (free Lamborghini, anyone?). Sajwani then travelled to Malta, an archipelago nation off Italy in the Mediterranean Sea, and met with Prime Minister Joseph Muscat. Dubai’s real estate developer DAMAC Properties clarified on Wednesday that only a small portion of the company’s shares are owned by foreign investors and that the majority ownership, approximately 85%, is still controlled by the founder, Emirati billionaire Hussain Sajwani and his family. To get better results, add more information such as First Name, Birth Info, Death Info and Location—even a guess will help. Recently, the firm took over 100 percent ownership of Italian fashion house Roberto Cavalli. Hussain Sajwani (born 1953), is an Emirati billionaire businessman, and the founder and chairman of the property development company, DAMAC Properties, and his private investment company, DICO group. 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