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Company focus will be on Saudi Arabia, DAMAC chairman says
  + stars: | 2024-04-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompany focus will be on Saudi Arabia, DAMAC chairman saysHussain Sajwani, founder and chairman of UAE-based development company DAMAC Properties, discusses the company's outlook and prospects in Saudi Arabia.
Persons: Hussain Sajwani Locations: Saudi Arabia, UAE
Flash floods that formed led to water engulfing cars, in some areas fully submerging them, leading hundreds of drivers to abandon their vehicles on roads to escape the rising water levels. The deluge also closed schools and businesses, grounded hundreds of flights, and destroyed cars, businesses and other property. Damac's Sajwani conceded there was chaos at the airport, but said the UAE had recovered much faster than other nations would have. "Fine, we get some, in one of the malls, some damage. He explained that he arrived in Dubai from London just a few hours after the rains had stopped, and visited all the major properties that belong to his company.
Persons: Hussain Sajwani, Damac's Sajwani, CNBC's Dan Murphy, it's Organizations: Damac, United, UAE, Energy Locations: United Arab, UAE, Riyadh, Saudi Arabia, Dubai, London
But that wave is slowing down, DAMAC Chairman Hussain Sajwani says. But other countries are coming in strong, especially Chinese coming back," Sajwani told CNBC's Dan Murphy at the World Economic Forum in Davos, Switzerland on Tuesday. "Dubai is, you know, surrounded by more than 100 countries with all kinds of issues and challenges. While China's economy faces challenges at home, Dubai is benefitting from those who can spend outside of the country. "So a lot of people coming and residing in Dubai anyway."
Persons: Hussain Sajwani, Sajwani, CNBC's Dan Murphy Organizations: Economic Locations: Russia, Ukraine, Gulf, China, Davos, Switzerland, India, Europe, Dubai, Israel, UAE
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI hope the Israel-Hamas war doesn't become a regional one, DAMAC chairman saysHussain Sajwani, DAMAC chairman, says "I don't think it will."
Persons: doesn't, Hussain Sajwani Locations: Israel
LONDON, June 1 (Reuters) - Roberto Cavalli launched a "disruptive" capsule collection outside the traditional catwalk calendar on Thursday as the Italian fashion label seeks to rebrand itself after a few shaky years. Designer Fausto Puglisi looked to a 1994 print drawn by the brand's founder Roberto Cavalli, itself inspired by a rococo depiction of the Greek myth of Leda and the swan, for the "Wild Leda" line, on show at London's Selfridges department store. Previously seen in the fashion house's spring-summer 2023 line, the depiction, matched with animals prints, features on floaty dresses, beachwear, accessories and homeware. "Roberto Cavalli was always famous for obviously the gowns but... he created really a lifestyle... So you have your plates, you have your coffee cups, you have your shoes, you have your bag, you have everything.... (we thought) let's do something that is a bit larger and invites you to discover the world of Roberto Cavalli."
Persons: Roberto Cavalli, Fausto Puglisi, Leda, Sergio Azzolari, Dubai's Damac, Hussain Sajwani, Azzolari, Marie, Louise Gumuchian, Ros Russell Organizations: Reuters, Dubai's, Vision Investments, Thomson Locations: Florence, U.S, London, Milan
It's time to face a harsher reality, real estate executives told financial and world leaders at the World Economic Forum's annual meeting in Davos, Switzerland, on Wednesday. The results of flexible work programs have hit the values of older office buildings in cities across the world as office tenants downsize. Sajwani, Palladitcheff, Ulbrich and Cantor Fitzgerald CEO Howard Lutnick all agreed that many office buildings will need to be repurposed or torn down. It's those less attractive places that face multiple challenges of crime and homelessness where the value of office buildings will deteriorate "quite quickly." Office buildings "will become eyesores and they will need to be fixed," Lutnick said.
Dubai will become more expensive, DAMAC Chairman says
  + stars: | 2023-01-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDubai will become more expensive, DAMAC Chairman saysDAMAC’s Founder and Chairman Hussain Sajwani discusses the property market in the UAE, and tells CNBC's Hadley Gamble that Dubai is becoming more expensive.
DUBAI, United Arab Emirates — Dubai's property sector is going from strength to strength, as growth and reform in the oil-rich Arab Gulf states attract more foreign residents, companies and investors. The hike can be partly attributed to the geopolitical crisis, which has benefitted Dubai and the United Arab Emirates. "So Dubai continues to benefit today from the Russian-Ukrainian war, unfortunately." Dubai was already seeing its hottest real estate market in years within the early months of the war. Sales in the sector rose 45% year-on-year in April 2022 and 51% in May, according to the Dubai Land Department.
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