DAMAC Owner Hussain Sajwani and the City of Dubai

DAMAC Owner Hussain Sajwani is a Dubai based billionaire. His current net worth is $4.1 billion. Forbes published a list of richest people of the Arab world in 2018 and Hussain Sajwani secured the fourth position. He was born in 1952 to an Indian father and got his education from the University of Washington. He is mostly seen talking in Hindi because of his parents.

Hussain Sajwani is a very popular figure in the Middle East. He is known for his real estate empire. He owns the DAMAC Properties. This company was ranked as the fastest growing companies in Forbes Global list in the year 2017. Hussain Sajwani established this company in 2012. Since then, this company has completed a lot of huge projects. DAMAC Properties was listed in the Dubai Financial Market in 2015.

Hussain Sajwani was asked in an interview recently about how the regional turmoil will affect Dubai. Unlike many other people, Mr. Sajwani thinks that this regional unrest will have no negative effect on the city of Dubai. He believes that Dubai is known for its secure and safe environment. When its neighboring countries such as Egypt, Lebanon, and Kuwait are hit with turmoil, people opt for Dubai to seek protection.

DAMAC Owner Hussain Sajwani believes that Dubai has always taken advantage from the unrest in the neighboring countries. He gave an example of the Iran-Iran war and how Dubai actually benefitted from this war. The trade increased with Iran after the war. When Iraq invaded Kuwait, a lot of Kuwaiti locals came to Dubai, and the city actually benefitted from this.

Dubai is one of the fastest growing cities not only in the Middle East but in the whole world. The city has been using all the advanced technologies and developing more and more each day. It is trying the new distributed ledger technology to make the first ever passport-free airport in the world. Dubai recently launched EmCash. It is a cryptocurrency that is fully backed by the government, unlike other cryptocurrencies. Locals are now able to buy government services and other products from selected markets.

Additional reading: https://arabi21.com/

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