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Damac Chief Ready to Sell 15% of His Stake at Right Price

  • Company is developing Trump-branded golf courses in Dubai
  • Damac is eyeing expansion opportunities in Germany, London
Hussain Sajwani.
Hussain Sajwani.Source: Daniel Lynch /eyevine/Redux/Daniel Lynch /eyevine
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Hussein Sajwani, the billionaire whose Damac Properties Dubai Co. is developing Donald Trump-branded golf courses in Dubai, would be “more than happy” to sell as much as 15 percent of his majority stake in the company to boost the trading in its shares.

“The intention is there,” the Damac chairman said in an interview at his seafront residence on The Palm, a man-made island off Dubai’s coast. “As an owner who built the company with all the effort and hard work, I am not willing to sell it when I see my stock is undervalued,” he said. He declined to say what he considers a fair price.