UAE Billionaire Recalls How 'Forgotten' Dh20-Million Account Saved Him Amid Financial Crisis

Though, initially, he felt bored with not much to do at the shop, during his pre-teens, he eventually started writing invoices, checking inventories, and even haggling with customers.

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The founder of the multi-billion real estate developer Damac Properties revealed that it was the experiences of his youth that shaped his mindset of striving to work hard and embrace challenges.

Sajwani added that he passed on those experiences to his own children, albeit moderately, where he would bring his children with him to his office, so they would be familiar with how a business operates.

This proved to be effective, because his son Ali and daughter Amira followed in their father's footsteps and started their own real estate company, called Amali Properties.

Sajwani noted that in Arabic, there is a saying:“Knowledge in childhood is like engraving on stone.”

Ideas presented at a young age are ingrained in the mind, thus furthering knowledge and confidence in executing them.

In Sajwani's opinion, children as young as two or three years of age are at their optimum time to learn.

Perhaps the biggest challenge Sajwani faced was during the economic downturn of 2008. He recalled how he lost more than Dh980 million, with sales going down 98 per cent. It was at this point that Sajwani couldn't even pay his employees' salaries.

The only thing that saved him, however, were his prayers, and a forgotten savings account worth Dh20 million in Bahrain. He said that challenges such as those actually“make a better businessman and a better leader.” He continued,“the most important thing is that you do not panic. There is no trader in the world who did not go through hard times.”

In Sajwani's opinion, working hard is an absolute must if one wishes to succeed as a businessperson.

“Weekends, day-offs, or switching off after work. This type of mindset doesn't work in the world of trading,” Sajwani said. Although it is important to take a break from work every once in a while, he said, this will only be useful in holding a position in middle management.

He added:“Work hard, as simple as that. No other option if you want to be successful.”