Samana Developers, a Dubai-based boutique real estate developer and part of Samana Group of Companies, has broken ground on its second real estate project Samana Hills – reflecting the developer’s strong commitment to Dubai’s real estate market.
The Dh100-million ($27.3 million) Samana Hills project – a freehold property – will deliver 205 residential units comprising studio to two-bedroom apartments at Arjan, near the Miracle Gardens.
The ground-breaking takes place within one year after the developer started construction of its maiden project, the Dh75 million Samana Greens at Arjan within walking distance of the Miracle Gardens.
The ground-breaking ceremony was attended by Mr Muhammad Farooq, Chairman of Samana Group, Mr Imran Farooq, Group Chief Executive Officer, Mr Kamran Farooq, Director of Samana Group and Mr Alan James Gammon, General Manager of Samana Group along with other officials.
“This is the second ground-breaking ceremony within less than two years and reflects our strong commitment to the UAE’s real estate market,” Imran Farooq, Group CEO of Samana Group of Companies, said after the ground-breaking ceremony.
“Construction and delivery are key aspects of the real estate business. As a responsible developer, we take construction and on-time delivery of projects – key to attain customer satisfaction – very seriously.”
He says real estate is all about trust.
“Location, quality of construction, quality of property, on time delivery and convenient payment terms are crucial for the success of any real estate project. Like Samana Greens, Samana Hills will also be delivered on time and with the promised quality,” he says.
Samana Hills comes with an attractive offer of with an eight-year payment plan.
The residential units comes with prices starting at Dh399,000 for studios and Dh599,000 for one-bedroom apartments, comes with a very convenient payment plan of 1 percent per month payment scheme for 90 months, following 10 percent down-payment on purchase.
The five-storeyed project consists of 205 residential units, will be delivered by the fourth quarter of 2021. The project will be completed in 2.5 years when the rental income starts to kick in. This means, the property owners have to just invest approximately 40 percent (10% down payment and 30 monthly instalments of 1% each) of the price of the property and pay back the rest from the rental income.
Located near to the Miracle Gardens tourist attraction, Samana Hills will be easily accessible through two major expressways – Al Khail Road and Mohammed Bin Zayed Road – and gives its residents easy access to the major attractions to the city of Dubai.
Arjan master community is a new and growing neighbourhood and is surrounded by Arabian Ranches, Sports City, Jumeirah Village Circle, Dubai Hills, along with close proximity to a five-star hospital and three schools.
The new project’s ground breaking took place yesterday, as the developer almost sold out Samana Hills and its maiden project, the Dh75 million Samana Greens completes its construction at Arjan.
“Dubai’s mature and well-regulated real estate market and its inclination to high-quality living has given us confidence. We see enormous possibilities for our projects to be well-received,” Imran Farooq says.
“The UAE’s real estate market will grow further if more affordable homes like our Samana Hills are built to help the middle income families to move into their freehold homes from the rented homes.
“The 1 percent per month payment scheme for 90 months, following 10 percent down-payment on purchase – is a convenient payment plan. And with this project’s 8 year payment plan, we have made investment very lucrative to middle income property buyers, as the return on investment is comparatively higher than many other projects in Dubai.”
Samana Group entered the UAE’s real estate market in 2017 when the Dubai property market started to show signs of maturity. Real estate is a long-term business and Samana have entered in this market with a lot of conviction and the organisation belief that the Dubai real estate market is the best regulated in this part of the world.
Samana Hills will be developed as per the green building best practices utilising the green and sustainable technology. The residential units will be loaded with smart home technology to enable them energy-efficient making residents’ stay more comfortable and luxurious.