Recently, in an interview with Bloomberg, DAMAC owner Hussain Sajwani voiced his opinion that free trade should not be viewed as a luxury. The 66 year old businessman is good friends with U.S. President Donald Trump and possesses a handful of golf course deals with the Trump Organization. So it isn’t too surprising that he sided with Trump on the issue of trade with China.
Hussain Sajwani’s real estate business has taken a hit due to unstable international trade conditions. This decline has not stopped the company from moving forward with its plans to double down on its goal to build luxury properties in major European cities. This shows that the company has an unwavering dedication to retaining a high level of activity.
Many have wondered if Hussain Sajwani’s common business with the Trump Organization would hinder his separate ventures. Sajwani denies that it has ever hindered him whatsoever. He did say that China curbing the access of international business in the country has hindered his plans.
Luckily, loss of profits is nothing new to DAMAC Properties. As someone who has been in the real estate business for nearly 4 decades Sajwani knows just how cyclical a market can become. Only thing you can be sure of is that profits will go up and down he says. At this point of his career he doesn’t spend most of his time looking at company profits. Instead, he focuses on aspects like adding more members to your team, building your brand name, improving service to the customer.
With the stock price being as low as it is the DAMAC owner has had to postpone any plans of selling a share of his company. He usually is able to sell a share of the company at a good price but this would be a bad time to attempt such a thing.
DAMAC’s next step is expanding in London which may be tough considering there has been much political and economic unrest in Brexit.