The First Six Projects With New Housing Design Concepts Have Been Ramped Up For H1 2023, With 2,400 New Units Included In The New Developments.
Samana Developers, a Dubai-based real estate firm, intends to unveil 12 new projects by 2023. Including five-star hotels totaling Dh2.5 billion ($680 million). Around 2,400 units are housed in the complexes. The builder issued its 2022 performance evaluation and announced the blueprint for 2023 on Tuesday. The company’s goal is to quadruple its growth. To achieve this aim, the company is now recruiting the best real estate skills and most ideal sites with a group that is four times greater than it was in 2023.
According to Samana’s annual report, it has six projects with innovative concepts planned for H1 2023. Despite construction problems caused by the Covid-19 outbreak and site personnel limits enforced by authorities in early 2022, Samana Developers was capable of controlling the development flow and completing the Dh110 million Samana Hills project. The developer also introduced the completely sold-out Samana Waves, Samana Miami, and Samana Santorini developments.
According to Imran Farooq, chief executive officer of Samana Developers, 2022 remains positive for Samana Developers as it sets a new trend in the market. I believe that real estate innovation and an out-of-the-box approach are critical to success in today’s Dubai real estate market.
For example, Samana Developers was the first developer in Dubai to originate and establish the concept of private swimming pools in non-hotel properties with title deeds. We are quite proud of it. At least a dozen developers have since copied this pattern. In 2023, we will be developing fresh design concepts for our 12 new projects.
Samana Vacation Rentals
Samana Developers launched Samana Holidays in November 2022, increasing the capital growth of Samana homeowners from 8% to 15%. However, Samana initially planned to convert 500 units into vacation homes (serviced flats) for short-term rentals. Allowing tourists, visitors, or holidaymakers to stay. In five months, the converted units are estimated to generate more than Dh38 million in revenue.
The company has also expedited the development of the Dh130 million Samana Park Views, Samana Waves, and Samana Golf Avenue projects. The Samana Park Views project will begin construction in September 2021. Four of the eight blocks completed as of today. The structure will be finished by the end of February 2023, and the project will be completed in the second quarter of 2024. Dubai’s Dh32 trillion ($8.7 trillion) Economic Agenda inspires us and everyone. It will be critical for cross-sector growth, particularly in real estate, during the next ten years, according to Farooq.