Dubai-Based Samana Developers Plans Major Expansion In 2024

Dubai, UAE – 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.

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 Dubai’s top five fastest-developing developers, transferring up from its preceding top 10 roles in 2023.

“Dubai’s real estate market presents a first-rate opportunity, and we are well-placed to capitalize on it. By introducing high-yield waterfront properties, we’re set to provide buyers with a beneficial asset elegance that gives the fine of Dubai’s solar, sand, and sea lifestyle,” 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 company’s 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 Dubai’s real estate market