Home lists Top 100 most powerful Arabs 2021 Hussain Sajwani Chairman, Damac Properties Origin: UAE Residence: UAE Sector: Real Estate Hussain Sajwani’s Damac Properties announced earlier this year that it has raised its stake in its overseas subsidiary to 45 per cent from 20 per cent to bolster its international operations, as it seeks to stabilise operations at its home base in Dubai. Damac International indirectly owns 75 per cent of Nine Elms real estate project in London and is working on a resort project in Maldives. Sajwani, who maintains a net worth of around $2.2bn according to Forbes, has been fairly vocal in urging a moratorium on new real estate developments in the UAE to reduce oversupply in the market.