The World Richest Arabs 2014
Thu 04 Dec 2014 12:28 PM
Hussain Sajwani

Hussain Sajwani

Industry: Property

Country: UAE

Wealth: 4 Billion

Hussain Sajwani is both the founder and CEO of Damac Group, the Middle East's largest private sector luxury property developer. Sajwani started his career in the oil and gas industry, but in his heart, he was an entrepreneur. He left his job after two years, and founded a conglomerate whose activities encompass property development, insurance, manufacturing, education, securities, investment and commercial trading. You may know Damac from its luxury property portfolio, but Damac Holding also operates the largest catering company in the Middle East and is one of the leading insurance providers in Bahrain. The true extent of Sajwani’s net worth has only really become evident via the recent listing of Damac Properties in London, which values the company at some $4bn. Sajwani’s 85 percent stake in that company, together with his other existing interests in Damac Group, put our estimate of his wealth at a conservative $4bn.