Hussain Sajwani – the Owner of Damac Properties Has Revolutionized Dubai Real Estate

When Hussain Sajwani formed Damac Properties in 2002, a revolution in real estate in the Middle East began. For a man who in his youth swore that he would never become a businessman due to the long hours his father made him work in the family clock shop after school, Sajwani has done very well.

 

The Dubai billionaire has a flair for smart business decisions and has shown the ability to be decisive and take action when the opportunity presents itself. In 2002 when he formed Damac Properties to take advantage of a UAE decree to allow foreigners to take up permanent residence in the area, Sajwani has been the master of real estate development in the Middle East.

 

His earlier venture of being the primary catering company for the US Army during the Gulf Wars set the stage for his further real estate exploits and gave him the experience in organization and promotion that would serve him well. His initial purchase of some land in an undeveloped section of Dubai paid off handsomely when he sold out his first project, a 38 story apartment complex in six months. Using exciting and eye-catching promotions like promising a Bentley for each apartment set the stage for massive growth very quickly.

 

The Damac owner always pays cash for land, which establishes his location permanently. He always keeps a separate bank account for each property so that no money is exchanged between properties. He keeps a large cash reserve for each development which ensures that construction will be completed even if there is a downside to the economy. None of his properties are ever financed beyond 20 percent.

 

Sajwani is a close friend of Donald Trump and there are two very fine Donald Trump golf courses luxuriously placed on Damac properties. The Tiger Woods designed courses are very popular additions to the Damac brand.

 

There are several Hussain Sajwani family members involved in the business as he is planning for his future legacy of keeping the business in the family. The business is large enough to require this, and who better to carry on the legacy than family members themselves.

Follow Sajwani on LinkedIn and @hussainsajwani

Shaking Up The Home Selling Process With Greg Hague

Most people are familiar with the basic home selling process. A seller will work with a real estate agent. The agent puts the house on the market for them. The agent sets up a sign outside, typically tells the owner to do some painting and then holds an open house now and then to bring in buyers. In the view of entrepreneur Gregory Hague, this process is one that does not work well at all in today’s changing market. Hague points out that people have changed the way they sell many kinds of items to customers, yet the basic process of selling a house has not changed at all in a long time.

In his view, sellers and agents need to challenge this process and help figure out a better way of selling their homes. He argues in a recent article in Forbes Magazine that the current selling process can actually actively work against the needs of many sellers. Many sellers may have a sudden flurry of activity once their house goes on the market. If this activity does not result in offers, the net result may activity work against the seller by forcing them to keep their property on the market and letting it appear to buyers that buyers do not want to purchase it. A buyer may tour the house after it has been on the market for a few months and decide that the only offer they want to make is one that not even close to the price the seller hopes to get.

He wants to help them. In his company, Real Estate Mavericks, the seller’s needs are front and center. He wants to show agents how they help short circuit this process and assist buyers and sellers in coming together. His process is aimed at offering a structure that is all about showing off a property to best advantage. In doing so, his primary aim with any property is to make sure the property will not sit on the market for a day longer than necessary.

This is why helped created a detailed plan that is all about speed. His 29-Day Fast Sale Program is centered around providing help to bring in buyers who see a property and want to buy it as soon as they can. He knows that a home seller must aim to generate as much excitement as possible the moment they think of placing their house on the market. Excitement is what helps drive real estate sales. Buyers who see a property as something that is likely to sell fast are buyers who will often help drive up the price of the property even further and even start a bidding war.

New York Real Estate Barons Welcome Chinese Investors

China is a burgeoning economy with billions of dollars to spend, but much of China is not yet developed. The untouched rural landscapes on the interior of China have been reserved for farming and rural culture, but Chinese investors have places to invest their money. The NYC luxury real estate market has become a fertile ground for Chinese investors, and those investors are visiting New York to find new places to spend their money. This article details their spending, and you readers will see how the New York landscape is slowly changing.

#1: Town Residential

Town Residential is pushing the boundaries of the real estate markets to reach out to Chinese investors. Town Residential is a company local to New York City, and the firm has been involved in many dealings with Chinese investors. Town Residential has opened an office in London to reach even more Chinese investors, and their hope is to bring even more of these investors back to America.

#2: Simon Baron Says New York Is Safe

Mayor Rudy Guiliani did a remarkable job cleaning up New York City in the lates 90s and early 2000s. His work cleaning up New York can be seen today, and the Simon Baron Development group says New York is the safest of all the big cities in America. Developers are appealing to Chinese investors to look at New York before investing elsewhere, and there are many open properties in the city that require revitalization.

#3: Turning Around The City

There are areas outside of downtown Manhattan that offer great potential for Chinese investors, and groups of investors were recently shown properties in Harlem and other areas that need to be reborn. New York is a very large city, and areas of the city go through cycles of health and despair. Each area of the city that sits in disrepair can be renewed with money from Chinese investors, and companies like Town Residential hope to bring back enough Chinese money to make a difference.

#4: A Vision For Boroughs

Andrew Heiberger is the CEO of Town Residential, and he sees Brooklyn as the next great city of New York state. The boroughs have been folded into the New York government from the very beginning, but Brooklyn alone is very large. Mr. Heiberger thinks his group and others can turn Brooklyn into a metropolis using funds from Chinese investors, and each part of the borough will be turned around in due time.

The Chinese upper class is coming to America to invest in real estate and other ventures. New York City has long been a target for real estate brokers around the world, and development companies like Town Residential are bringing Chinese investors back to the city to spend their money. New York will begin to change slowly as visionaries like Andrew Heiberger begin to develop disused parts of the city and the residents of New York may see Brooklyn, the Bronx, Staten Island and Queens become major cities in their own right.