Hussein Sajwani, the founder and CEO of the UAE-based leading real estate development company Damac Properties, announced that he is willing to sell up to 15% of his stakes in Damac Properties to help revitalize the trading in its stakes.
Sajwani assured, however, that he is not willing to sell his stakes at a price that is less than its market value. He also refused to declare the price he considers to be a fair price for the stakes.
Sajwani, who currently owns 72% percent of the stakes in Damac Properties, has founded the company in 2002 and developed it to be one of the leading names in the real estate industry in the Arabian Gulf and the Middle East. Damac’s portfolio includes regional and international projects like Vera Residences in the UAE, Al Jawharah tower in Kingdom of Saudi Arabia and Aykon London One in the UK.
Damac properties has gained worldwide fame last year after partnering up with the Trump Organization which is owned by the current American president to develop two golf courses. One of these two projects, Trump International Golf Club in Dubai, has already been finished and opened last February. This led Hussein Sajwani to be referred to as the main partner of Trump in the Middle East.