Dubai-based Samana Developers will invest Dh12.5 billion ($3.4 billion) in new residential projects in the emirates, the developer has announced. Samana will award 18 construction contracts this year and says it is expanding its portfolio to waterfront developments aiming to push its position as a top-selling developer.
According to the company, the plans will push Samana Developers into the top five fastest-growing developers in Dubai, moving up from the top 10 selling developers in 2023.
“Dubai's property market presents an exceptional opportunity, and we are well-positioned to capitalise on it,” Imran Farooq, CEO of Samana Developers said. “By introducing high-yield waterfront properties, we're set to provide investors with a lucrative asset class that offers the best of Dubai's sun, sand, and sea lifestyle,” he added.
In the remaining part of 2024, Samana Developers will award 18 construction contracts and will partner with the leading contractors to ensure the timely execution of its projects with quality finishes and hence prompt delivery.
"As we expand our footprint locally, our goal is to offer local and foreign investors high-yield property assets. Samana’s strategy aligns with Dubai's continuously bullish outlook on the real estate industry. Samana Developers has a well-planned forward-looking growth strategy, innovative ideas, and affordable and quality assets, which attract local and international investors,” Imran commented.
The buyers of the award-winning Samana Developers have an option for the long-term payment plan, up to eight years with a 1% monthly payment, the company said. It helps the buyer’s decision to buy an apartment and move from a rented flat to owning a home.
Dubai’s Bullish Outlook
Dubai’s consecutive bullish outlook has created a lucrative environment for the real estate sector. The highly bullish outlook of Dubai’s real market, along with favourable regulations and an established infrastructure greatly helped Samana Developers grow and offer the world-class amenities at affordable properties, the company said.
