The founder of the multi-billion real estate developer Damac Properties Mr. Hussain Sajwani shared the details at the World Government Summit 2025.
UAE Billionaire Forgot 20 Million Dirhams in Bank Account. The founder and owner of famous Damac Properties shares his story of resilience, hard work and not panicking during the tough times. The interesting details came at the World Government Summit where Mr. Hussain Sajwani was discussing about different aspects of business and trading. Mr. Sajwani urged the participants that there is no other route to success other than the hard work. He was sharing intimate details and told that there is no trader in the world who doesn’t go through tough times. However, Mr. Sajwani considers it as an opportunity and asks everyone not to panic.
It seems that Mr. Hussain Sajwani had gotten the training from the very beginning. He would spend his afternoons after school in his father’s shop in the local souk. And these lessons were lifelong for him which were also helpful in giving him the success of becoming one of the largest developers of the Emirates. He recalls writing invoices, checking inventories, and even haggling with customers.
Who is Hussain Sajwani?
Mr. Hussain Sajwani owns Damac Properties which a major property player in the Gulf region. His properties span all around the region with investments from wealthy individuals from around the world. Some recent reports show that 17,000 Pakistanis have bought 23,000 properties in Dubai. He has founded the company as a young man and became an influential property developer during the early 2000s.
Mr. Sajwani shared a story from 2008 when the global economy was facing severe recession. He details that he lost 980 million dirhams and the sales of his company were 98 percent lower in 2008. He was unable to pay salaries to his employees at the time. However, he recalls that he had forgotten a saving account in Bahrain. The savings account had dirham 20 million held in the account. He recalls that dirham 20 million became a lifeline at the time. Mr. Sajwani believes that challenges such as those actually “make a better businessman and a better leader.”
The interesting tale was part of his discussion on how his lifelong learning shaped him. Mr. Sajwani also believes working hard is an absolute must if one wishes to succeed as a businessperson. “Weekends, day-offs, or switching off after work. This type of mindset doesn’t work in the world of trading,” said Mr. Sajwani during the summit. He added that although it is important to take a break from work every once in a while. Yet, he believes that hard work is the only route to success.
As this UAE Billionaire Forgot 20 Million Dirhams in Bank Account. It also shows the importance of forgotten savings account for everyone. Have you gotten any?
