Samana Developers retains top 20 seller rank in 2021

DUBAI: The total revenues of Samana Developers January-December 2021 increased more than 50 per cent, as it retained its revenue growth and top rank in 2021, a statement said on Monday.

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 ($53.2 million) since September 2021, it added.

The company announced that it was further increasing the headcount by 50 per cent and have doubled the sales revenue target for 2022.

Samana Developers chief executive officer Imran Farooq said that the developer did not stop construction works at its projects even during the lockdowns.

“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,” he said.

“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,” Farooq added.

“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,” he concluded.

In February 2021, the company started handover of its Dh75 million Greens project in Arjan.  Despite the slow market in the start of 2021 induced by Covid-19, Samana Hills worth Dh110 million, Samana Greens worth Dh75 million and Samana Golf Avenue-I worth Dh100 million, were completely sold out.

Following the success of the above projects, Samana Developers in September 2021 launched Samana Park Views at Arjan with a value of Dh130 million, Samana Waves at Jumeirah Village Circle valuing Dh165 million, Samana Golf Avenue-II located in Dubai Studio City at a value of Dh110 million.

The total value of Samana Developers’ three on-going and three new projects stands at Dh690 million ($188 million), located in investor hotspots of Dubai.

“The factors associated with the market recovery which supported high performance of Samana Developers, include UAE’s effective management of Covid-19 with lockdowns, systematic rollout of vaccine, 10-year golden visa, five-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,” the statement added.

Samana signature projects develop resort-styled facilities, podium decks with beautiful water features, open theatre and juice bar have been introduced in the projects which attract the investors and end-users. The featured amenities include private and common swimming pools, yoga zone, indoor and outdoor gyms, health club and 24-hour security.

The company will be coming up with the next 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 the course of 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 Dh599,000.