AYKON City developer DAMAC Properties and their CEO, Hussain Sajwani, have announced their plans to complete the second tower of six planned. The second tower is said to be comprised of 64 floors plus a rooftop that will be utilized for entertainment. This includes 49 floors dedicated to residential apartments, 3 basements, an entertainment and lifestyle floor, a ground floor, and 10 podium levels. The massive structure will be built by the China State Construction Engineering Corporation, who was awarded the contract for a massive 600 million AED.
The structure will have some 1.7 million square feet of useable space, making it one of Dubai’s largest. The tower will preside over the Dubai Canal on Sheikh Zayed Road. The entire development will be a city within a city and will have a number of luxuries including a spa, several swimming pools, night clubs, eateries and more.
DAMAC Properties is owned by billionaire Hussain Sajwani. The development company was named number one on the Forbes Global 2000 list. Sajwani himself was also named as one of the world’s richest Arabs by Forbes in 2017.
Sajwani’s father himself was a successful entrepreneur who taught his son how to succeed in business. After high school, Hussain earned a scholarship to study at the University of Washington in the United States. He graduated from the college in 1981 with a bachelor’s degree in Economics and Industrial Engineering. After graduation he began working in the oil business, obtaining a position in the finance department at Abu Dhabi Gas Industries.
Working for someone else did not prove to be beneficial to Sajwani, so in 1983 he started a catering business. The company is still in operation today and serves several large customers in the UAE, including the United States Military.
Sajwani launch DAMAC Properties in 2002 and is currently one of the world’s largest developers. The company is publicly traded and has developed nearly 20,000 units to date. DAMAC has stepped up its plans in recent years and currently there are over 45,000 units in development. As the CEO of DAMAC Properties, Sajwani was named as the Property CEO of the Year in 2017 by the Middle East Awards.
A business startup can be described as an enterprise that is in its infant stages of developing a product or a service that the founders wish to introduce to the market. The founders of such ventures finance most of their startups. Additional financing for startup businesses can be obtained from investors and venture capitalists.
However, most investors and venture capitalists shy off from investing in startups since they come with considerable risks. They can as well grow into huge opportunities. One notable thing with startups is that they have huge returns on investments if they are run in the right manner. Most of the tech-based firms are driven by research and the urge to provide new products and services that have high market demand.
Due to their risky nature, startup ventures ought to be handled with a lot of care for them to succeed. Young entrepreneurs need access to capital to finance their businesses. Most of these enterprises fail due to lack of adequate money to fund their operations. Besides capital, young entrepreneurs also need a lot of guidance from investors who have excelled in their fields.
Mike Baur is a Swiss businessman who founded the Swiss Startup Factory in Switzerland. Mike utilizes his business skills and experience as a financial advisor to help entrepreneurs grow their startup ventures. Mike was born in Freiburg, Switzerland. Having been in the business world for more than two decades, Mike understands the challenges faced by young entrepreneurs in Switzerland.
A solid educational background backs his skills and experience in the banking industry. Mike Baur earned his business degrees from two Universities; Bern and Rochester. He launched his career in the banking sector when he was only sixteen years old. Before establishing Swiss Startup Factory, Mike had worked in the Swiss banking sector for more than two decades.
In his career, Mike served as a financial advisor to individuals and institutions. He offered valuable advice to banks, organizations, and entrepreneurs who sought his services. Mike was among the most sought-after financial advisors despite his young age while in the banking industry.
After a successful career in the Swiss banking industry, Mike found it worthy to quit his lucrative job and begin a venture that would help other businesses to grow. It was then that he and Max established Swiss Startup Factory. As a banker, Mike realized that many startup ventures in Switzerland were facing a myriad of challenges that made most of them fall.