Samana Developers closes 2021 on bullish note
21 January 2022 – Khaleej Times – www.khaleejtimes.com
With highly bullish investor sentiment, Samana expects that its new project will be sold out in two weeks’ time
Samana Developers has announced that it retained its revenue growth and top rank in 2021, with total revenues from January to December 2021 increasing more than 50 per cent.
The developer says that the month-on-month growth was achieved by their work approach which is centered around ‘On Time; Every Time’ concept in terms of smooth workflow of construction at its projects, and the completion ahead of project timeline.
The market data of the real estate projects at Dubai Land Department is consistently showing Samana Developers among top 20 in Dubai and number one in Arjan area achieving 296 off-plan sales with Oqood registrations valuing at Dh195.32 million since September 2021. Samana Developers has retained its position among the top 20 high performing developers in Dubai in 2021.
Imran Farooq, CEO of Samana Developers, said: “We are very excited of our higher rank and growth. Consistent growth is achieved because of our business philosophy which is centered around ‘On Time; Every Time’ and at the rent-to-own need of end-users. One example is that we did not stop construction works at our projects even during the lockdowns, rather, we doubled it with the second shift of workers. In addition, our supplies to our projects remained uninterrupted.”
“This mindset and work approach has been lauded by our stakeholders. It paid us back in terms of top seller ranking. With every project launch, Samana Developers emerges stronger and sells faster. In addition, our broker network is expanding in the UAE and around the globe. We are witnessing 100 per cent increased investor interest in our new launches if we compare the interest in our previous projects, which created far more demand for our inventory than the supply,” Farooq concluded.
There are, of course, other factors associated with the market recovery which supported high performance of Samana Developers. Among them are UAE’s effective management of Covid-19 with lockdowns, systematic rollout of vaccine, 10-year golden visa, 5-year multiple entry visa and launch of UAE citizenship by invitation, which is a big motivation among investors believing that the UAE will accept foreigners as longer-term residents and eventually they hope for UAE citizenship.
Samana Developers announced that it was further increasing its headcount by 50 per cent and has doubled the sales revenue target for 2022.
In February 2021, Samana Developers started the handover of its Dh75 million Greens project in Arjan. Despite the slow market in the start of 2021 induced by Covid-19, the Dh110 million Samana Hills, Dh75 million Samana Greens, and Dh100 million Samana Golf Avenue-I were completely sold out.
Following the successful handover of Samana Greens project and 100 per cent sale of Hills and 100 per cent completion of Golf Avenue project, Samana Developers in September 2021 launched three new projects – Dh130 million Samana Park Views, Dh165 million Samana Waves, Dh110 million Samana Golf Avenue-II, located in Arjan, Jumeirah Village Circle and Dubai Studio City respectively.
The total value of Samana Developers’ three on-going and three new projects stands at Dh690 million. All six projects are located in investor hotspots of Dubai.
The developer will also be coming up with two new launches in March and May 2022. With highly bullish investor sentiment, Samana expects that its new project will be sold out in two weeks’ time.
Samana Developers provides 50 per cent financing to its buyers. Its property assets guarantee competitive 24 per cent returns at eight per cent per year over three years. All this makes Samana projects attractive propositions for end-users and investors alike. With a payment option of paying 10 per cent on booking, followed by 80 months at just one per cent makes it an excellent option for those who are looking to move from the rented accommodations to owning houses in Dubai. Samana Developers’ studio apartment starts from Dh399,000 and one-bedroom unit from Dhs599,000.