In a significant move to solidify its position within Dubai’s flourishing real estate market, Samana Developers announced a substantial investment of AED 12.5 billion (approximately USD 3.4 billion) earmarked for the development of new residential projects throughout the year. This strategic initiative includes the awarding of 18 construction contracts, specifically targeting the expansion of the company’s portfolio within the highly sought-after waterfront development segment.
Samana Developers, a prominent player in Dubai’s real estate landscape, aims to leverage this investment to ascend to the ranks of the top five developers in the city, having previously held a position within the top ten in 2023.
“Dubai’s property market presents an unparalleled opportunity, and we are strategically positioned to capitalize on its full potential,” remarked Imran Farooq, CEO of Samana Developers.
“Through the introduction of high-yield waterfront properties, we are poised to equip investors with a premier asset class that embodies the quintessential Dubai lifestyle, offering the best in sun, sand, and sea experiences,” he further elaborated.
Dubai’s real estate sector witnessed a remarkable surge in 2023, recording an impressive 1.6 million transactions. This momentum aligns with the city’s overall trajectory of growth, attracting a diverse range of investors.
“As we strategically expand our local presence, our primary objective is to provide both domestic and international investors with access to high-yield property assets,” concluded Farooq. “Samana’s strategic approach aligns perfectly with Dubai’s unwavering optimism for the real estate industry’s continued positive outlook. We, at Samana Developers, are driven by a well-defined, forward-thinking growth strategy, coupled with innovative ideas and a commitment to delivering high-quality, yet affordable assets, making us a compelling choice for local and international investors alike.”
Publish March 25, 2024
Source: https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-samana-developers-announce-3-4bn-investment-in-residential-projects/
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