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Dubai has over the years turned into the biggest market for luxury real estate industry players such as Hussain Sajwani, the founder of Damac Properties. Hussain has built a solid reputation as a real estate developer and astute businessman. His business acumen and ethics have seen him strike associations and engage some of the high net worth individuals around the world, including the sitting U.S president Donald Trump.

Business with Trump

Damac Properties and the Trump Organization have partnered on a number of multi-billion projects. Key among them is the prestigious Trump International Golf Club where they have sold luxury villas worth over $2 billion. Hussain Sajwani also maintains close ties with the Trump Organization and have partnered on several projects. The two have Damac has collaborated in developing some of the most luxurious properties in prime destinations around the world including Jordan, Lebanon, UAE, the United Kingdom, Qatar, and Saudi Arabia.

Relationship with China

The Damac owner says that his company is looking to increase its investments in the Asian continent, especially China. This comes at a time when the country is experiencing a rise in their middle-class economy. According to Hussain, the Asian economy is experiencing a rise in the levels of income and makes it the best time for Damac to invest. Their presence in China is boosted by the strong working ties that his UAE partners and China have developed over the last few years.

More about Hussain Sajwani

Today, Hussain Sajwani is ranked as the tenth richest man of Arab origin in the world. He attributes this to his various businesses that include a chain of hotels present in several continents including Africa. However, Damac remains the golden goose that made the rest and possible.

His entrepreneurship journey started after he graduated from the University of Washington with a degree in Economics and Industrial Engineering. After a brief period of employment, Sajwani started a catering company that supplied food to the U.S military. The savings here saw him establish Damac Properties and grew it over the years to become a multinational company with roots in virtually every corner of the world.

Arthur Becker is known for putting his money behind some of the biggest developers of the city. He has put in his money for Michael Stern, besides Kevin Maloney as well as Robert Gladstone. This time, he is planning to put his name as well as money on a condominium project.

He has already submitted his offering plan at the office of the New York State Attorney General. Hence this investor has turned into a developer now.

Arthur Becker is planning a building having eight units. The location will be 465 Washington Street. This is in Tribeca. The sellout being projected is $52.5 million. This will be an exclusive building. It will be a boutique building having interiors that have been designed by Paris Forino. In fact, it appears that Arthur Becker is just starting out in real estate this way. He has started with a smaller building with a lesser number of units as he believes that this is something that he can manage easily. It may also mean that he is preparing a base before he steps into something that is bigger and greater!

According to perezhilton.com, he started his career as a homebuilder. Then he moved to Hawaii where he was looking after a macadamia orchard. Post that; he moved into tech as well as finance. Once completed, this project will comprise of seven simplex apartments along with a penthouse duplex. The sizes will range from 2,000 to 4,000 square feet. The prices will range in accordance from $2,200 to $3,200 per square foot. Each unit will cost around $5 million while the penthouse will be in the range of $14 million.

Arthur Becker had bought 465 Washington in 2012. At that time, he had paid $6.1 million for it, reports Page Six. He had bought it from developer Peter Moore.

This is a five story building. Now it is to be expanded to 10 stories. For this, he has bought the development rights from those who own the adjacent building which is at 471 Washington. He has also paid over $1 million to the Ponte family whose building is on the back of Becker’s property. This is for a 30-feet easement.

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