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Samana Developers unveils $3.4 billion investment in Dubai’s waterfront projects

Here’s how Samana Developers’ $3.4 billion investment in waterfront projects positions them as a top growth player in Dubai, offering lucrative high-yield property assets amidst the city’s bullish real estate market

Samana Developers unveils $3.4 billion investment in Dubai’s waterfront projects

Dubai-based Samana Developers has announced a $3.4 billion investment in new residential projects in Dubai for the rest of 2024. The company is also set to award 18 construction contracts this year, as it expands its portfolio to waterfront developments. This move is expected to solidify Samana’s position as a top growth player in Dubai.

The game-changer $3.4 billion investment, mostly in the waterfront projects, will position Samana Developers in the top five fastest-growing developers in Dubai, moving up from the top 10 developers achieved 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, and added: “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.”

Over the rest of the year 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 timely 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, mentions Farooq.

The award-winning Samana Developers offer a long-term payment plan of up to eight years with a 1% monthly payment, which has made buyers comfortable with their decision to purchase an apartment. This option allows individuals to transition from renting a flat to owning a home, making the process more accessible and appealing.

Dubai’s bullish outlook

Dubai’s consecutive bullish outlook has created a lucrative environment for the real estate sector. According to the latest data from the Dubai Land Department, Dubai registered a record 1.6 million real estate transactions in 2023. This surge comes as the emirate’s property market continues to strengthen amid robust economic momentum. The total value of real estate deals in the emirate reached Dh634 billion, with the number of transactions hitting 166,400 in 2023. This marked an annual growth of 20% in the value of deals and 36% in the number of transactions.