When 16-year-old Ali Sajwani started working at his family’s real estate company, Damac, now a multi-billion-dollar enterprise, his weekends were a balance of learning at the office and enjoying time with friends on Fridays.
Ali spent Thursdays at the office understanding the challenges of real estate. This hands-on learning paved the way for his remarkable career growth. Today, at 33, he’s the Managing Director of Damac and the co-founder of Amali Properties.
“At that time, weekends in Dubai were Thursday and Friday. To have fun on Friday, I had to spend Thursdays at the office with family,” he shared.
During those early days, Ali learned about gross margins, valuation metrics, and investing in the GCC market. His father was a strict mentor who didn’t cut corners for his children, something Ali is deeply grateful for. By the time he started university, he had strong work ethics and a solid understanding of business operations.
After earning his economics degree from Northeastern University in 2014, his father assigned him to Damac’s construction sites. Ali worked on major projects like the Paramount Hotels & Resorts towers, which he later managed.
“You learn more from on-ground experience than from theory,” he said, adding that insights from Damac colleagues, managers, and consultants were invaluable.
Speaking at Abu Dhabi Financial Week, Ali shared advice on sustaining family businesses and making bold decisions. “The biggest issue in family businesses arises when the next generation isn’t involved early,” he explained. He observed that many family businesses falter because the younger generation steps into management without understanding the operational details.
Ali emphasized the importance of unity in family-run businesses, pointing out that conflicts among second or third generations often lead to court disputes. Drawing from his upbringing, he suggested fostering healthy competition among siblings to encourage shared successes and mutual happiness.
He also encouraged leaders to trust their instincts and adopt an entrepreneurial mindset. During the Covid-19 pandemic, Ali proposed selling properties online.
“Everyone disagreed, saying houses aren’t like shoes or t-shirts. Who would buy a million-dollar property without seeing it?” he recalled. But Ali trusted his instincts and pushed forward.
The online sales initiative started with $24 million in revenue. Later, he integrated technology into the process, leading to the idea of metaverse digital cities, which further boosted revenue.
Ali Sajwani’s journey is a testament to the power of early learning, embracing innovation, and trusting one’s instincts in business.
