"The strong rebound prompted the billionaire head of one of the city's largest developers to say he was "very surprised and shocked to see how things changed." Next year will be as good as 2021, if not better, as a lot of people moved to the city during the pandemic, Damac Properties PJSC Chairman Hussain Sajwani said."
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"I was totally wrong," Damac Properties PJSC Chairman Hussain Sajwani said in a Bloomberg TV interview, "I was very surprised and shocked to see how things changed."Next year will be as good as 2021, if not better, as a lot of people moved to the emirate during the pandemic, he said."
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"Dubai-based billionaire Hussain Sajwani increased his bid to buy the rest of Damac Properties PJSC by about 8%, after a previous offer triggered a regulatory review and backlash from minority investors."
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"Billionaire Hussain Sajwani offered to take the rest of Damac private at a discount of nearly 45% to the developer's local listing in 2015. "
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"Dubai-based billionaire Hussain Sajwani intends to take Damac Properties PJSC private by buying its remaining shares through a firm he owns, the developer said."
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"I anticipate it will take at least 12 to 24 months to see a substantial recovery," Chairman Hussain Sajwani said in a statement after Damac posted its second consecutive full-year loss."
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"I hope the big developers don't start dumping supply just because they can sell another few hundred villas or apartments," Damac Properties PJSC Chairman Hussain Sajwani said in an interview with Bloomberg TV. "
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