Money & Me: ‘My journey to the Dubai boardroom started with selling sanitary ware in Deira market’

Anis Sajan, vice chairman of Dubai-based conglomerate Danube Group, learnt the art of sales when he went door-to-door trying to sell water purifiers in Mumbai in 1991.

This was after he had to leave Kuwait in 1990, where he went to join his elder brother Rizwan Sajan − current chairman of Danube Group − in sales, after the country was invaded by Iraq’s Saddam Hussein.

Although he made good money in Mumbai, Mr Sajan landed in Dubai in 1992 to join the plywood business of his elder brother. The younger sibling started off his Dubai journey by selling sanitary ware.

“My brother liked the Middle East, so he came to Dubai. Within six months, he started his own business using his Kuwait experience and asked me to join him,” he recalls.

“At the time, I was a bit reluctant because I didn’t like Kuwait very much. But as soon as I landed in Dubai, I was taken straight to an Indian restaurant called Kamat in Karama. That made me feel right at home and the rest is history.”

The Indian businessman, who studied only until the 11th grade, is now in charge of Danube’s building materials division and handles the Milano brand, which includes sanitary hardware, electrical tiles and water purifiers.

Mr Sajan, 54, currently lives in Emirates Hills with his wife and two children.

Did wealth feature in your childhood? What did you learn from it?

Not really. I grew up in a middle-class family in a chawl (a large building divided into many separate apartments, offering basic accommodation) in the Ghatkopar suburb of Mumbai, where we just had enough and lived hand to mouth. That upbringing taught me the value of money, how to spend it and respect it.

How did you first earn? What did your first job pay?

Before I went to Kuwait, I sold festive lights to people during the Indian festival of Diwali. I earned 300 Indian rupees ($3.40) doing this in 1988.

My first proper job was with home appliance company Eureka Forbes, after I came from Kuwait. I went door to door selling water purifiers, which offered me a good experience in sales and also taught me to cope with rejection. I earned 25,000 Indian rupees a month in 1991 because I was a good salesman. I would never give up and kept knocking on doors until I clinched a sale a day.

Any early financial jolts?

The biggest financial setback was losing my father, who worked as a clerk, when I was just eight years old. My father was the family’s breadwinner, while my brother was doing a part-time job. After his demise, he shouldered all responsibilities. It was a financial jolt, because we went from a hand-to-mouth existence to a level hard to imagine.

When I came to Dubai in 1992, I was earning around Dh2,000 ($544.50) per month, so there wasn't much of a financial shock as such. I was good in sales. So, my brother and I started our own business where I sold sanitaryware and my brother sold plywood in the Deira market. The business took off. We went from being a business comprising two people to a 5,000-member workforce today.

How do you grow your wealth?

To grow your wealth, you need to invest in the right places. I invested in a few properties in Dubai in the early 2000s, which gave me good returns. I also grow my wealth through my business.

Today is the right time to invest in UAE property. UAE real estate is one of the finest places to invest, because the return on investment is at least 8 per cent to 10 per cent, which is not available anywhere else in the world. Also, this country is a home away from home and the safest in the world.

Are you a spender or a saver?

Initially, I was a spender. But with time and experience, I realised that it's very important to save. Spend only what is required and don't go overboard.

I believe it's easy to live rich but difficult to die rich. You need to make sure that you leave wealth behind for your family, so they do not suffer for your mistakes.

I teach the same to my children, and I'm glad they have grasped it, especially my younger one who is very careful about spending.

What has been your best investment?

My house in Emirates Hills as I bought it in 2008 when the real estate market was down. I took a calculated risk, because I believe in a no risk, no gain approach. Today, the property has appreciated considerably. Over time, I also invested in other properties for my sons and my wife.

Any cherished purchases?

My Casio watch because it taught me the value of time. When I was young, I was always late. I bought it with my first salary in Dubai.

Any financial advice for your younger self?

Yes, to be prepared for losses when you invest in a property or a business. You cannot expect to make a profit every time.

Any key financial milestones?

I wouldn't like to brag and let the numbers in the bank define my success. For me, peace of mind has been my biggest milestone.

What luxuries are important to you?

Spending quality time with my family. Initially I was fascinated by cars, but then I realised that a car is not a luxury. Instead, a comfortable home is a luxury. I prioritise satisfaction over a luxury now.

Cars depreciate the moment they come out of the showroom. For instance, I have a Rolls-Royce and a BMW, but I'm more comfortable in the latter.

What are your financial goals?

To create something long-lasting for my family. I want to give my family financial security even when I'm not around. This has always been the driving force behind my work. I don't like to rest on my laurels.