Imran Farooq speaks during a press conference in Dubai on Tuesday.
Samana Developers on Tuesday launched three new projects worth Dhs405 million in Dubai.
The new projects include a Dhs130 million Samana Park Views, a Dhs165 million Samana Waves and a Dhs110 million Samana Golf Avenue-II, located in Arjan, Jumeirah Village Circle and Dubai Studio City respectively.
The first in the series of projects, which will start sales on Oct.6, will be Samana Park Views located in Arjan. The project is scheduled for handed over in Q2 2024.
Spanning over 183,323 squares feet, the G+6 Samana Park Views residential project will house 176 studio, one, two-bedroom apartments with private pools.
Imran Farooq, Chief Executive Officer of Samana Developers, said: “We have learnt a great lesson of being resilient during the challenging times.
That’s what pays back to us. At the back to of that, of course, the Expo 2020, economic reforms, new visa regime and successful handling of the pandemic with vaccine drive across the country are factored around the highly positive outlook for Samana properties.”
“Based on a very positive investor interest, we noticed that well-thought-of and unique design features of Samana Developers projects offer a healthy and beautiful lifestyle that make our real estate assets attractive to investors and end-users alike – not just another brick-and-mortar building.
Affordable prices for our luxury resort style features plays a key role in making it possible to attract attention,” concluded Imran Farooq.
Samana Park Avenue residential project has a flexible payment plan with 10% down payment, 1% over 70 months, 10% in 6th month, 5% in 12th month, and 5% in 18th month. Prices start from Dhs459,000. The unit sizes start from 361sqft for studio, 937 for one-bedroom, 1,301 for two-bedroom apartments.
The top three transactions were a land in Madinat Dubai Almelaheyah sold for Dhs212.6 million, followed by a land that was sold for Dhs53 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs212.6 million in Madinat Dubai Almelaheyah in third place.
According to proprietary Property Finder demand data, the top areas of interest in terms of searches for villas/townhouses in January 2021 were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Mohamed Bin Rashid City, and Damac Hills.
The Dubai property market witnessed substantial growth in 2021 after a brief setback in 2020 due to the global pandemic. The V-shaped recovery is evident as the demand and prices of properties in various areas are on the rise.
Data from Dubai Land Department (DLD) showed that the first working Friday witnessed 173 sales transactions worth Dhs2.38 billion, 12 of which were plots of land worth Dhs451.16 million and 161 were apartments and villas worth Dhs1.93 billion.
Global stocks rallied on Tuesday and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans.
The Lord Mayor of the City of London, Vincent Keaveny, has expressed his hope to strengthen the ties between the UAE and the United Kingdom, particularly in the financial and professional services sector.
Dubai property prices continue to increase across various affordable and luxury segments as key areas record high numbers. Sales trends in the first half of the year indicate