AED 165mln ‘Samana Waves’ fully sold out in two weeks demonstrates investor confidence
30 March 2022 – ZAWYA BY REFINITIV – www.zawya.com
(DUBAI), United Arab Emirates: Samana Developers, a top ranked real estate developer in Dubai, today announced that its Dh165 Samana Waves project has been sold out in 14 days. The mid-luxury residential project located in Jumeirah Village Circle was launched on March 12, 2022. The developer says the sold-out in a short time is a live demonstration of the confidence of investors in Samana properties.
Samana Waves spanning over 155000 sqft is a G+3P+23-storey tower that comprises 213 apartments. The project includes studios, studios with pools, one-bedroom with pool, one-bedroom duplex with pool, two-bedroom with pool and two-bedroom duplex with pool. Construction works of the project are expected to start in April 2022 and the completion in Q 1, 2025.
Imran Farooq, the CEO of Samana Developers, said: “In Samana Waves, our focus is the mid-luxury investor segment hailing from the domestic and the incarnational markets. At the back of Samana Developers’ investor-friendly properties at the prime locations of Dubai, Samana Waves received an overwhelming response from investors at the sales launch two weeks ago. In Dubai’s highly competitive market, we have to design something different from the rest of the developers. We have carved a niche that is mid-luxury and resort-style – a pressing need in times of environmental disaster caused by the Covid-19. In addition, the highly regulated property sector ensures the investments are protected by Dubai government.”
Dubai, among the safest cities in the world, is one of the hubs of international trade and travel. The metropolitan city continues strengthening its position with the launch of mega projects, for example Expo 2020. The average annual return on investment (ROI) in Dubai ranges from 8% to 10%. Dubai’s real estate market, in particular, is an ideal option to invest in. It is because Dubai gives its investors the highest rental yields as compared to the rest of the international cities as well as ensuring capital appreciation in a tax-free country.
Samana Waves project is a high yielding opportunity in Jumeirah Village Circle (JVC), which is between UAE’s two main highways – Sheikh Mohammed Bin Zayed Road and Al-Khail Road – and close to Al Maktoum International Airport, hospitals, schools, malls, commercial districts.
With a payment option of paying 10% on booking and followed by 65 months at just 1%. A 10% on the sixth month, 10% on 12th month and 10% on the 18th month, the flexible payment plan makes it an excellent option for those who are looking to move from the rented apartments to owning homes in Dubai. Samana Waves is scheduled to be completed in Quarter 1, 2025. Apartment prices start from AED 449,000.
In addition to the flexible payment plan and high yielding properties, Samana Developers’ provision of 50% financing to its buyers further boosts investor confidence.
The design of Samana Waves embodies district features where ‘water’ is a key element. Plenty of green areas is another key feature. Amenities include a main swimming pool accompanied with cascading water features, luxurious and large leisure pool deck, a swimming pool for kids, private swimming pools in apartments, health club with all facilities, fully-equipped gym, play area for kids, jacuzzi, steam room, valet parking and the twenty-four-seven security.
Environment and Energy-efficiency
Energy-efficient, world-renowned and environment-friendly appliances in the kitchen save on energy consumption. The world-renowned brands fitted in the kitchen, for example the Germany-based Teka appliances, ensure durability and hence save on machine maintenance costs.
Earlier this year, Samana Developers announced three new projects, including Samana Waves. Three projects – Samana Golf Avenue-II, Samana Park Views and Samana Waves have a combined value of Dh405 million (USD110 million) and are located in Arjan, Dubai Studio City and JVC.
In February last year, Samana Developers handed over Dh75 million Samana Greens project located in Arjan.