Saman developers have recently introduced a new residential development that will offer more than one thousand apartments in Dubai. This multimillion-dollar project, which will also provide a breathtaking view of Samana Lake, is anticipated to be completed in three years.
(Photo : Me Construction News/ Samana Lake Views )
Construction of Multi-Million Residential Project
The residential development in Dubai Production City that will be developed by Samana Developers, a company based in Dubai, will cost one billion United Arab Emirates dirhams, which is equivalent to 272.2 million dollars. As part of Samana's plan to invest $3.4 billion in real estate in the United Arab Emirates this year, the project is reportedly being undertaken. As mentioned, developers have confirmed in a statement that the Samana Lake Views development will encompass 794,000 square feet and be finished in October 2027.
The introduction of Samana's new project marks the beginning of an extension to a new dimension of concepts intended to be constructed near the projects along the waterfront. In addition, the development combines luxuriousness, comfort, and a lively way of life. Imran Farooq, the Chief Executive Officer of Samana Developers, stated that the development of our projects close to the waterfronts is a reaction to the demand from their investors, who seek resort-style neighborhoods as well as rates that are within the grasp of buyers and end-users.
Moreover, among the most notable characteristics of the apartment complex will be the smart home technology and private pools included in each apartment. The two-bedroom units reportedly boast many deluxe amenities, including maid rooms, leisure pool decks, and volleyball courts, ensuring residents enjoy a lavish lifestyle. From virtual reality golfing to outdoor cinemas, there's something for everyone to indulge in within this luxurious residential complex.
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Samana's Investment in Real Estate
The visionary initiative, dedicating an impressive $3.4 billion primarily for waterfront projects, is set to propel Samana Developers from its current standing as the tenth fastest-growing developer in Dubai in 2023 to a prominent position as the fifth fastest-growing. This strategic allocation underscores the company's commitment to pioneering transformative projects and solidifying its reputation as an industry leader in innovation and growth within the real estate landscape of Dubai.
On the other hand, Samana Developers will associate with industry leaders to ensure the punctual completion of its projects, resulting in satisfactory finishes and on-time deliveries, by awarding 18 construction contracts throughout the remainder of 2024. Accordingly, the company aims to provide foreign and domestic investors with high-yield property assets as it builds its local presence. In line with Dubai's consistently optimistic stance on the real estate business, Samana's strategy reportedly supports this outlook.
Furthermore, attracting domestic and foreign investors is Samana Developers' cost-effective and high-quality properties and its forward-thinking growth strategy, which is cleverly planned. Nevertheless, buyers have expressed heightened confidence in investing in an apartment due to the award-winning Samana Developers' implementation of a long-term payment plan. With a monthly installment rate of just 1% and the flexibility of an extended payment period spanning up to eight years, the company has effectively alleviated financial strain while ensuring accessibility to its esteemed clientele. Thus, by utilizing this alternative, consumers can shift from renting an apartment to purchasing a property, hence rendering the procedure more accessible and enticing.
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