Home lists 100 Most Powerful Arabs 2023 Hussain Sajwani Founder and chairman, Damac Properties Origin: UAE Residence: UAE Sector: Real Estate After building world-class communities across the world, Damac Properties’ Sajwani has now set his sights on the metaverse. In 2022, Damac established its D-Labs division dedicated to its metaverse initiative, where the company plans to invest $100m to build digital cities. The initiative forms part of a larger push by the group towards digital assets and non-fungible tokens. The conglomerate also announced plans to explore tech-related opportunities in Germany with an estimated spend of up to EUR1bn. As part of Damac’s diversification efforts, Sajwani acquired the famous Swiss jeweller de Grisogono and iconic Italian fashion powerhouse Roberto Cavalli. Most recently, the Group won a $120m bid to acquire land in the Miami neighbourhood of Surfside, where it plans to build an ultra-luxurious, Cavalli-branded condominium project.