Hussain Sajwani is the current chairman of DAMA Properties which is based in Dubai. In 1981, he got the opportunity to study at the University of Washington for his undergraduate program in Industrial Engineering and Economics. HussainSajwani’s success has greatly been shaped his family background and his thrill to take business risks.
Many people are aware of Hussain Sajwani’s economic achievements but are less interested in his roots. The dedicated businessman was born and raised in a humble family. His parents were very hardworking and did their best to provide him with the best education.
Hussain Sajwani’s father was a shop owner who sold watches and pens while his mother was a businesswoman who sold fabric to the locals. Hussain Sajwani learned the ways of venturing into the business through his father as he got to understand how to be committed and maneuver through economic challenges.
Journey to establishing DAMAC Properties
DAMAC owner is well known for his success in venturing into the real property industry. He had always been interested in real estate business right when he completed his university studies. To venture into such a business, he began a catering services outlet to raise capital.
He later started establishing hotels in Dubai after he realized that there was a shortage of housing to cater for the rising population in the 1990s. In 2002, Hussain Sajwani founded the currently recognized real estate company, DAMAC Properties. The firm has been able to provide houses to over 20,000 families and is still increasing its ventures in the commercial properties market.
Relationship with Donald Trump
It is not surprising that DAMAC owner and the current United States President, Donald Trump, have a personal relationship. The duo’s close tie is based on the fact that they have a business partnership. Together, they had established the Trump International Golf Club which has been a success. Read more: Hussain Sajwani | Facebook and Hussain Sajwani | Crunchbase
Hussain Sajwani is recognized for his generosity to the community. He engages in various charity services and supports the humanitarian organizations in Dubai. Hussain Sajwani’s last donation was in 2017 when he offered 2 million AED to buy clothes for needy children across the world.
Boraie Development decided to do the unthinkable again, and this time their latest criticism came from their decision to build a 250-apartment property known as the Beach at South Inlet in Atlantic City, NJ. According to Patch.com, this decision was scrutinized because Atlantic City has been a place that most real estate agencies have said is only where the casino owners live and it just doesn’t have the demand for housing. But Sam Boraie says quite the opposite is true because in recent years the city has actually had some casinos close. This actually is a good thing Boraie says because now the property prices will return to normal and developers can invest in market that actually does need more housing. Boraie says the new Beach at South Inlet should stimulate the local housing market.
Boraie Development has bought properties mostly in the residential markets, but they also own several retail and office space lots. It was Wasseem’s father Omar Boraie who came over from Egypt and started the company. The city of New Brunswick, where the company is headquartered was going through a lot of trouble when Boraie first arrived, and he decided if nobody else was going to try and make a change to its landscape, he would. So he started buying various properties beginning at the Albany Street Plaza where he took an old abandoned lot and had two towers built there. This is the project that ignited the city of New Brunswick to having more of a business flow today, and Boraie Development would duplicate this feat when they bought up a commercial property in Newark now known as CITYPLEX 12.
Boraie Development really hit their stride when they completed construction of a high-rise at One Spring Street in New Brunswick. What was remarkable about this feat was that it was a massive 25-story high-rise that most people said was just too big for the city and didn’t match what consumers wanted, but they were wrong again. This condominium sold out very quickly, and in the years following this Boraie Development had two more high-rise apartment centers built at One Rector Street in Newark and again in New Brunswick at The Aspire. One of Omar Boraie’s strengths as the leader of the company has been to leverage his vision with his understanding of financial returns, but it’s also because he has said by his own words that he just is never affected by criticism. Boraie also has close ties to Rutgers University where he earned his doctorate’s degree in chemistry and also gave over $1 million to genomic research, and the university awarded him the Omar Boraie Chair in 2013. For more info, visit crunchbase.com.
Boraie Development looks all set to rattle the real estate market in Atlantic City this coming summer. The developer has lined up a mega project that will culminate in the construction of over 250 new apartments in the span of the coming 25 years. Just last week, the media had a field day touring the South Inlet of the Beach in Atlantic City, where a proposed $81 million apartment project was set to commence really soon. The resort city is expected to comfortably hold an estimated 50K people once complete by 2020, according to everyone’s favorite real estate reporter, Joshua Burd.
Atlantic City Rises
Many cynics had altogether written off Atlantic City, especially considering the challenging economic concerns rife in the state and indeed, the entire nation as well. But, in a recent turn of events, Atlantic City has begun to show strong signs of making a sure comeback. To stabilize its ailing economy, the desert gaming outcrop city has had to develop alternative means and avenues for generating capital and revenue, a classic example being from investing in high-end and modern apartments. The Vice President of Boraie recently spoke to the press and he reminded every one of about what the new generation of renters requires an ideal living and work space. Wasseem, the VP, argues that something drastic has to be done to address the fact that over 60 percent of all homes in Atlantic City is close to forty years old. To read the rest of the press release by Vice President, Wasseem Boraie, click here.
According to Press of Atlantic City, Boraie Development, LLC is a privately held urban real estate firm with an impressive scorecard. The property management firm also dabbles with sales and marketing activities on behalf of their clients. The award-winning development firm is renowned for meeting deadlines and for astonishing prices. The superb real estate company oversaw the development of upscale rental premises dubbed, the Aspire. Check out re-nj.com to see more.
The Aspire complex will feature 238 modern residents fitted with the latest amenities. The apartments will have a full-time doorman, private parking with direct access to your building elevator. The complex will have plenty of fascinating options for residents and guests seeking a fun night out to eat with others. The complex features wonderful eating and drinking joints next to trendy and hip dance floors. The crowds in this part of New Brunswick are mostly comprised of students at the nearby Robert Wood Johnson University Hospital, Rutgers University and from Saint Peter’s Univesity Hospital. The high-end apartments at the Aspire complex by Sam Boraie fetch for as little as $1,650 all the way to $2,750 pm.
Since its establishment in 1972, the JHSF has made a name of its own as the leading real estate’s developer in the greater Brazil. It has since grown greatly, and most of Brazil’s world-class real estate’s developments all attribute their existence to this company. The company can attribute its tremendous growth to its able executive, who is committed to sustainability in JHSF operations, and this is its selling point, that makes it stand out from the rest of such companies in the country.
The JHSF, through its subsidiaries, is involved in the development, purchase, sale, and leasing of residential and commercial properties in the country. It provides administration and contract management services, as well as operating hotels and tourist activities.
The four business segments in which the company operates include Real Estate Development, Hotels, and Services, Shopping Centers, and other businesses. It also has various subsidiaries such as JHSF Salvador Empreendimentos e Incorporacoes S.A, Aveiro Incorporacoes Ltd, JHSF USA, JHSF (Uruguay) SA, Boa Vista de Desenvolvimento Imobiliario Ltda JHSF NY, and JHSF Incorporacoes Ltda to name a few.
About Jose Auriemo Neto
At the realm of the JHSF company sits its chairman and chief executive officer, Jose Auriemo Neto. In the enterprise, not only does he Mr. Jose oversee all aspects of the brand’s interest but also administers JHSF’s extensive shopping and retail portfolio. In 2009, Auriemo signed partnership agreements with Pucci, Jimmy Choo, and Hermes. That was the company’s first ever venture into retail that Mr. Jose oversaw.
After signing, the group later opened the luxury brands first stores in the JHSF’s Cidade Jardim shopping complex. It’s said, one good turn deserves another, and this is why in the year 2012 the group, with the leadership of one Mr. Jose Auriemo Neto again secured another partnership with Valentino. This time round launched the first R.E.D. Valentino and Valentino Brazil stores.
Jose went to the FAAP University. His career started soon after schooling. He started working in this company in the year 1993. In 1997, Mr. Jose founded the JHSF’s services department, through creating Parkbem, a parking lot management firm. He develops the JHSF’s first shopping destination called Shopping Santa Cruz to oversee its successful development, following the initial services department.
The New Brunswick State Theater was built in the heyday of the silent film era. The State Theater’s grand opening was in December 1921. For the last nine decades, the people of New Jersey have enjoyed watching top entertainers do what they do best. The Golden Age of Hollywood was also the Golden Age of the State Theater, according to real estate developer and Advisory Board member Sam Boraie. From 1930 to 1969, the State Theater booked big names like Bette Davis, James Dean, Rock Hudson and Elizabeth Taylor. Those performers and others appeared in plays, and they also made live guest appearances. Hedy Lamar promoted war bonds at the State Theater in the 1940s, and Walter Cronkite made an appearance to promote the U.S. Infantry Band. The great acoustics attracted singers to the theater, and the acoustics still do. Some people still want to see pictures of stars like Minnie Pearl, Bob Hope, Gary Cooper and Houdini performing at the State Theater.
The 1970s were not kind to New Brunswick or the State Theater. People decided to move to the suburbs. People paid to see movies in the movie houses that popped up outside of the city. Downtown New Brunswick became a wasteland where drugs users and gangs hung out in plain sight. But one New Brunswick businessman wanted to bring New Brunswick back from the brink of disaster. Omar Boraie, Sam Boraie’s father, decided to invest in downtown New Brunswick. Twenty years later, Sam decided to follow in his father’s footsteps.
In the 1970s, Boraie Development LLC worked with city leaders, and according to Bloomberg, they came up with an urban renewal plan that made sense. The plan took a few years to implement, but the results of the urban renewal project have inspired other cities to follow New Brunswick’s lead. Boraie Development is part of the reason New Brunswick is now a hub for the pharmaceutical and medical professions. Johnson and Johnson also deserves some of the credit, and so does Rutgers University. But the inspiration and the energy came from the Boraie family. In 1983, the first Boraie high-rise office building opened on Albany Street in New Brunswick. And Sam and his siblings kept the momentum going through the 1990s and 2000s. Downtown New Brunswick is now an energetic inner city with great restaurants, retail shops, office space, apartments, and condominiums.
Sam Boraie was also part of the reason the New Brunswick State Theater was brought back to its original stature. The Advisory Board (https://www.statetheatrenj.org/board-of-trustees) of the State Theater decided to restore the theater, so the theater looked like it did in 1921. The successful restoration was a joint effort, but the Boraie family helped in several ways. Sam also plays a role in Elijah’s Promise, the New Jersey nonprofit that feeds the hungry. Elijah’s Promise operates a soup kitchen, café, cooking classes, and other services that help the hungry eat when they are hungry. New Brunswick may not be the New Jersey city that people think of when New Jersey is mentioned, but it should be. It is one of the most progressive cities in the state, thanks to Sam Boraie and his family.