Dubai, UAE β Dubai-based total real property developer Samana Developers has introduced plans for primary growth in 2024, with investments totaling AED12.5 Billion ($3.4 Billion) across 18 new projects.
Samana Developers to Launch 11,000 Units Across Dubaiβs Key Localities
According to Samana Developers CEO Imran Farooq, the company will release 11,000 units this year in key areas along with Arjan, Jumeirah Village Circle , Marjan, Dubailand , Discovery Gardens, Furjan, Motor City, Sports City , Meydan, and other upcoming localities.
The ambitious growth ambitions put Samana Developers amongst Dubaiβs top five fastest-developing developers, transferring up from its preceding top 10 roles in 2023.
βDubaiβs real estate market presents a first-rate opportunity, and we are well-placed to capitalize on it. By introducing high-yield waterfront properties, weβre set to provide buyers with a beneficial asset elegance that gives the fine of Dubaiβs solar, sand, and sea lifestyle,β said Farooq.
Beyond Dubai, Samana is likewise eyeing possibilities in Ras Al Khaimah , with plans for an inaugural mission launch later this 12 months. The employer is additionally planning a 5-star hotel development on Marjan Island.
Farooq says demand for off-plan projects stays excessive, especially with the AED 2 million price tag. He believes the ready property market is currently in a consolidation phase.
As part of its growth strategy, Samana has appointed advisory firms to prepare for a potential IPO and listing on the Dubai bourse in 2025-2026.
The companyβs 2024 expansion comes amidst a strong appetite for IPOs in the UAE, with recent public listings significantly oversubscribed. With its robust project pipeline, Samana Developers appears poised to capitalize on positive sentiment and fast-growing demand in Dubaiβs real estate market
