Dubai’s DAMAC Properties to develop Oman’s $1 bln waterfront

Source: Al Arabiya

DAMAC Properties has signed an agreement with Oman to develop a port in the country’s capital city Muscat as a tourism destination, Dubai’s second-largest listed developer said on Wednesday.

DAMAC signed a memorandum of understanding with Oman’s Tourism Development Company (Omran) to develop Port Sultan Qaboos.READ MORE

Hussain Sajwani: The Donald of Dubai

Source: Estates Gazette

Hussain Sajwani wants to have a candid discussion. A chat about property, yes. But also a frank conversation about the reality of doing business transparently in the UAE, his concerns around the western “misconception” of the Middle East and his “aggressive” plans to invest millions of pounds into London over the next 12 months. The chairman of Dubai-based residential real estate giant Damac Properties – the man often referred to as the “Donald of Dubai” – is ready to talk about it all.READ MORE

Trump’s UAE associate among world’s richest Arabs

Source: Khaleej Times

Five UAE billionaires, including US President Donald Trump’s UAE associate Hussain Sajwani, feature among the world’s richest Arabs in the 2017 rankings by Forbes Middle East.

Defying the uncertainty in global oil prices, the aggregate net worth of the richest Arabs climbed by 29.2 per cent over last year to $123.4 billion, spread among 42 billionaires.READ MORE

Arab billionaires’ fortunes grow to Dh453 billion despite headwinds

Source: Gulf News

Dubai: Forty-two Arabs, whose combined fortunes ballooned by nearly a third this year, are among the richest in the world, according to the 2017 rankings released on Thursday by Forbes Middle East.

The ultra-wealthy in the Arab world managed to increase their net worth despite the economic headwinds, with some billionaires who were bumped off the list in 2016, now staging a comeback.READ MORE

World’s top 10 richest Arabs – Forbes

Source: Gulf Business

Forbes Middle East has unveiled its annual list of the world’s richest Arabs for 2017.

Saudi billionaire Prince Alwaleed bin Talal once again topped the list with an estimated net worth of $18.7bn, up by $1.4 billion from last year.

The UAE’s Majid Al Futtaim – the owner of a massive retail conglomerate – was ranked in the second spot with $10.6bn.READ MORE

Chairman & CEO of DAMAC Properties, Hussain Sajwani, top real estate CEO in the GCC

Source: Zawya

Top CEO Awards recognises industry heads whose achievements are driving the GCC economy

Dubai, United Arab Emirates – 13 April 2017: Hussain Sajwani, Founder, Chairman and CEO of DAMAC Properties, a leading luxury real estate developer in the region, took first place amongst real estate CEOs and ranked number 11 on the list of 100 regional CEOs in the Top CEO Awards 2017, held in Jeddah recently.READ MORE

The World’s Richest Arabs 2017

Source: Forbes Middle East

Hussain Sajwani founded residential real estate developer DAMAC Properties in 2002, taking advantage of a Dubai government decree that allowed foreigners to own property in the emirate. He saw non-Emiratis as the main apartment buyers.READ MORE