Dubai’s Samana Developers launches Dh165mln ‘Samana Waves’ at JVC
14 March 2022 – Zawya BY REFINITIV – www.zawya.com
(DUBAI), United Arab Emirates: Taking advantage of Dubai real estate’s record recovery, Samana Developers today launched the Dh165 million Samana Waves project at Jumeirah Village Circle. The G+26 tower design embodies a resort theme with plenty of water features, green areas, event space and is beside Dubai’s main highways and close proximity to the city’s retail and leisure landmarks.
Earlier this year at a press conference 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.
Imran Farooq, the CEO, Samana Developers, said: “Market indicators are pointing to a rising bullish trend which is expected to witness a growth of up to 7.9% during rest of 2022. And at the back of a successful vaccination programme, the opening of international borders, low interest rates, UAE government measures and investors / end-users seeking to upsize homes amid a need for more space since the Covid-19 pandemic began, Dubai real estate experienced astounding 2.1% price growth in the second half of 2021, reaching to a growth trend seen before the historic financial crash in 2008.”
A similar bullish trend was noted in a report published by Dubai Land Department, showing, Dubai in January 2022 saw over 51,452 rental contracts in the Dubai market with an even split between new and renewal contracts. The most popular apartment rental contracts were for 2-bedroom apartments with 1-bedroom trailing right behind and the most popular villa and townhouse rental contracts.
“At our new Samana Waves project, we created a luxury and close to everything what residents need – Al Maktoum International Airport, hospitals, schools, malls, commercial districts, adjacent to Dubai’s key road network – Al Khail Expressway and Mohammed Bin Zayed Highway connecting all cities of the UAE.”, concluded Imran Farooq.
Payment Plan – 6 Years
Samana Waves spanning over 155000 sqft is G+3P+23 floors comprising of 213 apartments which are studios, studios with pools, 1 bedroom with pool, 1 bedroom duplex with pool, 2 bedroom with pool and 2 bedroom duplex with pool. Apartment prices start from AED 449,000.
With a payment option of paying 10% on booking followed by 65 months at just 1%, 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 that are looking to move from the rented house to owning a home in Dubai. Samana Waves is scheduled to be completed in Quarter 1, 2025.
Samana Developers’ provision of 50% financing to its buyers boosts investor confidence in its real estate assets. Samana Developers properties guarantee a competitive 24% return at 8% per year over 3 years. That makes Samana projects an attractive proposition.
Samana Waves featured amenities include Kids Swimming Pool, Leisure Pool Deck, Green Area, Swimming Pool, Private Swimming Pool, Health Club, Kids Play Area, Iconic Water Feature, Jacuzzi, Steam Room, Valet Parking.