Category Archives: Business

The DAMAC Owner Knows A Lot About The World

Hussain Sajwani is leading in the world’s effort to bring diversity to organizations. He openly celebrates the diversity of his company and the fact that DAMAC employees come from 77 countries. DAMAC does does not discriminate based on nationality. The philosophy of this inclusive policy is that people from different backgrounds give very valuable viewpoints for organizations. Companies that are not inclusive make the world a less happy place. Hussain Sajwani knows that the world has to step into the 21st century by being more inclusive. Different groups in the world are very much connected with each other through globalization, being within close bounds with each other and travel. Exclusion is unreasonable, but it becoming more and more unreasonable as the years go on and as the world changes.

DAMAC Owner Hussain Sajwani‘s knack for understanding the state of the world has lead to his economic success. Real estate has been the golden goose for Hussain Sajwani. His travels as a young man gave him a good view of the world that lead him to make good decisions. His experiences in America showed him what was needed to be done in the United Arab Emirates. At the time, America seemed a million times more built up than the United Arab Emirates. Even places like Walmart seemed like wonders to him. Years later, he took part in the rebuilding of Dubai and other places.

One big plan that he has is to expand DAMAC’s business into the Far East. His knowledge of the state of the world has led him to this plan. The real estate billionaire sees how much of a good business partner the Far East would be. This is because of the massive economic successes of China. China has a huge population and a lot of manufacturing. The levels of manufacturing in China are so high that air quality has drastically suffered in major Chinese cities. There are infamous pictures of Chinese people wearing masks over their faces to combat the pollution. Read this post from Al Bawaba to know about DAMAC’s charity work.

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Fortress Investment Group Makes its Mark at 20 Times Square

Times Square in New York City is getting a partial makeover thanks to Fortress Investment Group. The Marriott EDITION hotel at 20 Times Square, which is currently still under construction, was purchased in February by the company and other entities. The value of the property at 20 Times Square was valued at $1.53 billion at the time of its closing.

Founded in 1998 by Randal Nardone, Wesley Edens and Rob Kauffman, Fortress Investment Group focused on hedge funds. The company has grown exponentially since, now priding itself in the management of assets for over 1,750 private investors and institutional clients. The company focuses on private equity, credit and real estate, as well as permanent capital investment strategies. Over $41.4 billion of assets are under the management of Fortress.

Fortress Investment Group, along with partners Maefield Development, initially had partnered with Winthrop Realty Trust, and Howard Lorber’s New Valley, Ian Schrager and Steve Witkoff. They bought what was originally an office building for $430 million in 2012. The group began construction on the Times Square EDITION in 2015, a 39-story upscale hotel with over 450 rooms. Maefield and Fortress bought out their partners as part of the new deal.

What changes will come for 20 Times Square? The Times Square EDITION will host a variety of attractions for those who stay, whatever their reasons are. Over 5,000 square feet of space is available for events. A restaurant and beer garden are available for those who are thirsty, and a state-of-the-art fitness club is an alternative destination for those with wanting to stay in shape on-the-go.

There will be plenty of shopping and available, as well. Over 76,000 square feet of retail space will be filled, with the NFL already staking claim to 25,000 square feet of it. The influx of travelers staying so close to the rest of Times Square will certainly be a boost to the local businesses already calling this historic district home.

Two new Hotels in the area means Fortress Investment Group is making its mark on the culture and landscape of New York City. Of the two new hotels, Times Square EDITION will be the more luxury-minded, but both will have a lot to offer visitors to the city. With over 700 rooms to be available in the heart of Times Square, that will be good news to locals and travelers alike.

Steve Ritchie Influential Roles in the Growth of Papa John’s Company

Mr. Steve Richie has over the years been the chief executive officer-CEO, of Papa John’s International Inc-PJII, and has played various roles in being its president since July 30, 2015. Steve also served as the senior vice president-SVP of the company and was the chief operating officer-COO. As a vice President-VP of international operations, provision, and training, he served in various positions leading to the success of Papa John’s company. Steve Ritchie led in many strategies that helped in the growth of the company.

Papa John’s Success in the Company and an Apology to Customers

Papa John’s company is majorly known to be the third largest pizza delivery company. It is located in Louisville, Kentucky. Over the years, customers have rated Papa John’s company as the best in producing the best pizzas in the United States. It has shown its competitive abilities to other selling pizza companies, with an appealing slogan of better ingredients for better pizzas. Mr. Steve being the chief executive officer-CEO has ensured that he plays dedicated roles.

Steve Ritchie’s Apology

At one point, Steve Ritchie was forced to write an apology to the company’s customers to enhance more sales; customers needed a good approach from a person in high ranking to apologize, as per Yahoo Finance. He indicated that the company was sorry for the offensive words that had been altered earlier. Steve Ritchie made known to the people that those words will no longer affect the company’s reputation in any way. Any insensitive words spoken will not be accepted in any way, nor any racism practiced by the company. He assured all customers that the company would produce the best services and quality pizzas. Steve Ritchie promised that the company would invite professionals, and experts to ensure an ethical culture in the company. The expertise will work to ensure that weaknesses within the company are identified.

The management ensured that it gets both positive and negative feedback, and tackle it effectively. Mr. Steve also promised to ensure accountability, and transparency in the company’s welfare. Steve Ritchie apology letter to the company’s customers ensured that they are back on track, as posted on Facebok. He assured that he regained the trust of all the customers. He stated that such behaviors would not be tolerated anymore in the company.

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DAMAC Owner: A Look at His Vast Business Portfolio and Philanthropic Efforts

Husain Sajwani is among the notable property developers in the UAE and more importantly Dubai. The billionaire serves as the chairperson and founder of DAMAC Properties, a successful luxury real estate development company that took the first position on the Forbes 2017 Global 2000 list of the fastest growing entities globally.

DAMAC owner Hussain Sajwani boasts a stellar business portfolio with several companies under his belt. DICO Investments Co LLC operates as his investment arm. It was founded back in 1992 with about AED 3 billion worth of assets under management across UAE. The investments are subdivided into four main areas including long-term investments in fast-growing banks, ownership of subsidiaries in growth industries among others.

The DAMAC owner has significant interests in the property development and real estate space. Some of his investments in this industry include the Nine EKs Property Limited, a venture between Sajwani and his company DAMAC Properties Dubai Co. He is also behind the AYKON Maldives Resort, which is a holiday destination set on a reclaimed island in the Maldives.

Sajwani also has his investment foot in the building materials and construction space thanks Al Anwar Ceramic Tiles Co SAOG, whereby the DAMAC owner acts as the company ’s chairperson. Al Anwar Ceramic Tiles Co prides itself on being the largest and first manufacturer of ceramic tiles in Oman

When it comes to his interest in catering, Sajwani is a majority shareholder of the Al Jazeira Services Company SAOG, an Omani Joint Stock company. Apart from being listed on the Muscat Securities Market, the company has an extensive shareholder base that includes brokerage houses, pension funds among others.

The One Million Arab Coders Initiative

Hussain Sajwani is behind the creation of DAMAC foundation, a joint venture between himself and DAMAC Properties. Recently, he was a signatory to a partnership memorandum to support the One Million Arab Coders Initiative. The initiative was unveiled by Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, to offer free programming training for a million young Arabs in an effort to empower them with coding, the language of the future and open opportunities for them.

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