DUBAI: Samana Developers, a Dubai-based boutique real estate developer and a part of Samana Group of Companies, has announced Dubai’s first of a kind game-changer facility of 50%financing for its investors for itssoon to be launched resort-style design award winning Samana Golf Avenue project located in Dubai Studio City and near Dubai Sports City.
Samana Developers move comes at a time when the Central Bank of UAE, country’s banking regulator, discussed relaxing the existing ceiling of 20% financing by UAE lenders for real estate sector.
Samana Developers is UAE’s first developer who is offering such a massive offer, while making investors’ life risk-free and easier with ultimate satisfaction.
Samana Developers is offering the 50% finance facility for its resort-themed Samana Golf Avenue project, located in Dubai Studio City. The project won the Innovation in Design Award by BNC Publishing, Dubai.The project includes 233 luxury studios, one and two-bedroom apartments some with private pools and a world class leisure deck featuring a golf putting green.
Samana Developers, under the partnership with leading banks, will be providing the most attractive terms for end users financing for both residents as well as non-residents. Financing will be available for up to 10 years tenure on Samana Golf Projectfor up to 50% of the unit value.
Alan James Gammon, General Manager of Samana Developers, said: ““50% financing is a generousmove by Samana Developers, which reflects our rent-to-own approach for homebuyers. Our partnership with the local financial institutions reflects our mandate to create solutions that meet thechanging needs of homebuyers in the UAE. Considering the huge interest for the Samana Golf Avenue project in both the local and international market especially China. We perceive an exceptionally strong demand for high-quality, affordable properties in carefully master-planned, and well located residential communities from homebuyers, ranging from young professionals to larger families.”
Beside 50% financing, the competitiveguaranteeof 24% rental returns makes Samana Golf Avenue project an attractive proposition for end-users and investors alike, and is the developers’ rent-to-own approach .The 10% down-payment and over 90 monthsinstallment scheme makes it easier and simple for the investor to pay and earn rental yields.
In addition, investors are particularly interested in the 8% net return that is given by the developer once the unit is fully paid.The higher than bank return makes Samana Golf Avenue a highly lucrative proposition for investors at a much sought-after location of Dubai Studio City in the city of Dubai. “We have a buyer-focused business model, with a win-win approach. Our 24% guaranteed rental return is hard to compete with in the Dubai’s real estate market which only a mature and sustainable developer can offer. Our sustainable business approach reflects our commitment to our customers and to the Dubai’s real estate market in general”,said Alan James.