By the end of 2023, Samana Developers, a Dubai-based developer, plans to begin 12 new projects, including six-hundred million-dollar ($680 million) five-star hotels. The developments contain more than 2,400 units.
The developer also reviewed their performance for 2022 on Tuesday, along with the 2023 design. The company has targeted a fourfold increase in growth. The corporation is presently choosing the best real estate professionals and the most ideal places to accomplish this goal with a crew that is four times larger than it was in 2023.
In its annual report, Samana states that it has six innovative projects scheduled for the first half of 2023.
Despite the Covid-19 pandemic-related construction issues and site staff restrictions set by the government in early 2022, Samana Developers handled the construction flow and finished the Dh110 million Samana Hills project.
CEO of Samana Developers Imran Farooq stated: “2022 remained bullish for Samana Developers as it established a new trend in the market. I think success in the contemporary real estate market in Dubai comes mostly from innovation and thinking beyond the box. For instance, Samana Developers established the concept of private swimming pools in residential buildings with title deeds and was the first developer to do so in Dubai. We are pleased with it. At least twenty developers have since followed this practice.
Samana vacation rentals
In November 2022, Samana Developers launched Samana Holidays, raising the investment returns for Samana properties from 8% to 15%. In order to accommodate travelers, visitors, and vacationers, Samana originally intended to convert 500 units into holiday houses (serviced flats) for short-term rentals. In just five months, the converted units are expected to generate over Dh38 million in revenue.