Rizwan Sajan, who was born in the slums of Ghatkopar in Mumbai, is the richest Indian in Dubai. In 1993, the billionaire embarked on his entrepreneurial journey in the UAE with just a few thousand dirhams, and transformed his small trading company into a Rs 16,709 crore empire. Scroll down to learn more about Rizwan Sajan’s inspiring journey to becoming Dubai’s richest Indian…
Rizwan Sajan is Dubai’s richest Indian who has a towering net worth of $2.5 billion (approximately Rs 20,833 crore), according to UAE’s Ministry of Economy. He’s the founder and Chairman of Danube Group, a Dubai-based diversified business conglomerate with interests in building materials, home decor, and real estate development. Besides the UAE, Danube Group has established its presence in India, China, Canada, Qatar, Saudi Arabia, Bahrain and Oman. The annual turnover of the company stands at $2 billion (approximately Rs 16,709 crore), according to Forbes India.
Sajan hails from a middle-class family and had to drop out of school at age 16 to become the breadwinner after his father’s death. According to Forbes India, he used his father’s savings to start a business — manufacturing box files. Sajan’s uncle then offered him a job in Kuwait as a trainee salesman, and the billionaire businessman swiftly climbed the ladder to become a manager with a high salary.
However, the Gulf War broke out and Sajan was forced to come back to Mumbai. In 1993, he tried his luck in Dubai by founding a trading firm which is now known as Danube Group. He ventured into the real estate business in 2014 with Danube Homes. In a bid to “democratise luxury”, the billionaire entrepreneur shifted his focus to expats, enabling them to buy properties instead of just renting apartments.
The richest Indian in Dubai used his “1 per cent plan”, in which buyers would make a monthly payment of 1 per cent of the total amount, besides a small down payment. The balance would be collected once the building was ready. In an interview with Forbes India, Sajan claimed that the consumer would have already paid 50-60 per cent of the amount by the time the building was ready to use.
Sajan’s only son Adel Sajan serves as the Group Managing Director at Danube Group, while the businessman’s brother Anil Sajan is the Vice Chairman of the family conglomerate.