The problems of Brexit are hardly causing sleepless nights for the luxury real estate developer Hussain Sajwani as he moves towards the completion of London’s AYKON One tower. The DAMAC owner has spent much of the last few years considering where to take his luxury real estate business after warning of the potential to flood the markets in his home region of Dubai. The former oil executive and catering services entrepreneur believe the research he and his management team has left them aware of every possibility as the deadline for Brexit draws closer.
Many financial experts are warning of future problems based on the instability felt around the world with political uncertainty rife in various parts of the world. The rise of Hussain Sajwani’s business partner, Donald Trump to the position of U.S. President has not dented the plans or profits of DAMAC. The Dubai-based real estate expert believes the rise to a position of power by Trump, with whom Sajwani partnered to create two golf course resorts on the outskirts of Dubai, can only improve the position of his brand in the Middle East.
Real estate values have been slumping in recent months but the DAMAC owner explains this is nothing more than the perpetual cycle of values and net worth. In a recent interview, Hussain Sajwani explained the real estate markets often go through cycles including the 2008 slump which saw billions wiped of global real estate prices. However, the DAMAC owner survived and prospered in the difficult times of 2008 before going on to increase the value of his DAMAC brand.
The issues created by the decision of the British people to leave the European Union do not seem to faze Hussain Sajwani as the deadline for Article 50 draws closer. As the DAMAC owner explained in 2017, the brand has moved into the London markets for the long-term and has completed extensive research to consider every possible outcome of the Brexit issue.