Hussain Sajwani, the founder of DMAC properties states Dubai’s turmoil to be positive

Hussain Sajwani, the chairman of Middle Eastern DAMAC properties states the turmoil in Dubai has proved to be very beneficial for the economy. He says that Dubai’s turmoil has actually been positive and it can be confirmed form the Global Smart City Performance index ranked Dubai on the 6th position. Hussain shared examples of leading countries such as Iraq and Kuwait saying that people often find safety in Dubai when disturbances hit their countries. The disturbances in both Iraq and Somalia led to a positive impact in Dubai as the 70,000 immigrants from Iraq and 35,000 from Somalia contributed to the economic growth by running various import/export activities and taking part in the in national and international activities.

Insights on Hussain and his DMAC properties

In 2018, Mr. Sajwani was ranked as the fifth richest person in the world according to the Forbes. He is known to be the most extravagant business tycoon in whole the Gulf region as well all across the world. Starting from a small catering firm in 1982 to founding DMAC properties in 2002, Hussain has taken the real estate empire by the storm which, in 1992, was listed only as DMAC group. The firm is known as the first Middle Eastern company that got mentioned on the London Stock Exchange in 2015 and was also listed on the Dubai financial market in 2015.

How Dubai is becoming the most advanced country in the world

Dubai has strong ties with other middles eastern, especially the oil-producing countries. Being one of the most advanced countries and an attraction to million dollar investments every year, Dubai has taken several initiatives to make better use of technology and turn its markets into a hub of investment. It plans to create an airport with a passport-free system and has established the cryptocurrency. Currently, Dubai is aiming to expand its operations and collaborate with different countries to strengthen its ties and tap into better opportunities while becoming a competition to New York and Hong Kong markets. The opening of Dubai International Financial Centre (DIFC) has given Dubai another edge in the international market.

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