Dubai's 1% Man

Summary

Rizwan Sajan, born in the slums of Mumbai, overcame adversity to become a billionaire. His breakthrough idea was a simple one: allow people to buy homes with just a 1% down payment and pay the rest in small monthly installments. Despite skepticism, the idea worked, and thousands of working-class people were able to own homes. Sajan's success in Dubai, where he built 15,000 homes, is a testament to his persistence, intuition, and hard work, proving that with the right mindset, anyone can rise from humble beginnings to extraordinary success.

Takeaways

• 😀 Rizwan Sajan, originally from the slums of Mumbai, became a billionaire through his innovative approach to real estate in Dubai.
• 😀 Growing up in poverty, Rizwan’s family lived in a shack without a private toilet, and shared facilities with dozens of people.
• 😀 The turning point in Rizwan’s life came when his father won a government lottery for a discounted home, giving him a taste of a better life.
• 😀 This experience inspired Rizwan to make it his mission to provide homes for others, especially the working class in Dubai.
• 😀 In 1991, Dubai was rapidly developing, and housing was expensive. Rizwan created a simple but powerful business model: a small down payment and a monthly payment of just 1%.
• 😀 Despite skepticism from others, Rizwan trusted his intuition and stuck with his one-percent plan, which eventually succeeded.
• 😀 His business model resonated with thousands of working-class people who could now afford homes through this innovative payment structure.
• 😀 Rizwan went on to build thousands of homes in Dubai, transforming the housing market and making homeownership possible for many.
• 😀 His company has now built over 15,000 homes, and Rizwan has become one of the most successful entrepreneurs in the UAE.
• 😀 Rizwan credits his success to hard work, intuition, and the refusal to listen to people who said it couldn’t be done.
• 😀 The story of Rizwan’s journey from the slums of Mumbai to a billionaire in Dubai is a testament to resilience, vision, and determination.

Q & A

What was Rizwan Sajan's early life like?

Rizwan Sajan was born and raised in the slums of Mumbai. His family lived in a poor shack without a private toilet, and they had to share a common toilet with 30-40 other people, making life extremely difficult.

How did Rizwan's family improve their living situation?

Rizwan's father won the government home lottery, which allowed them to buy a home at a discount. This transition from living in a shack to a private home with a toilet and roof had a significant impact on Rizwan's life.

What was the key moment that shaped Rizwan's mission in life?

After moving into a private home, Rizwan realized the value of having a proper living space. This experience inspired him to make it his life mission to build a home for everyone.

What was the state of Dubai when Rizwan moved there in 1991?

In 1991, Dubai was just starting to develop, and there was a growing demand for homes, but the cost of homes was very high.

What innovative idea did Rizwan Sajan come up with to solve the housing problem in Dubai?

Rizwan introduced a simple yet innovative plan where people could buy homes with a very small down payment and pay just one percent of the total cost per month. This made homeownership more accessible to working-class people.

Why was Rizwan's business idea initially met with skepticism?

When Rizwan first introduced his one percent plan, many people doubted its success, believing it would never work. However, Rizwan was determined and had a clear vision for how the plan would succeed.

How successful was Rizwan's business venture in the end?

Rizwan's business proved to be highly successful. Thousands of working-class people were able to purchase homes through his one percent plan. He ended up building 15,000 homes and became one of the most successful business people in the country.

What was Rizwan's attitude toward criticism and failure?

Rizwan emphasized the importance of not listening to people who say no or doubt your abilities. He trusted his intuition and heart, and if he believed something was possible, he pursued it relentlessly.

What role did hard work and luck play in Rizwan's success?

Rizwan credits both hard work and luck for his success. While he acknowledges the role of luck, he also emphasizes that hard work played a key role in achieving his goals.

How did Rizwan's personal experience with poverty influence his business decisions?

Rizwan's experience growing up in poverty and living in a shack without basic amenities like a private toilet deeply influenced his desire to help others. His mission to make homeownership accessible to everyone stemmed from his own challenging early life.