Home Business & Finance Samana Developers revenues reach 3-year highs in 2020

Samana Developers revenues reach 3-year highs in 2020

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DUBAI: Samana Developers’ total revenue increased 65% since Q2 2020. This is the 9th consecutive month – April to December 2020 – that the developer has reported a growth in revenue generated month-on-month despite roadblocks raised by the pandemic. Company has increased its headcount by 55% and has doubled the sales revenue target for 2021. In addition, the ongoing COVID-19 vaccine drive by the UAE and Expo 2020 in October this year are predicting a positive outlook for 2021 which will lead growth across sectors.

Imran Farooq, CEO of Samana Developers, said: “Dubai has performed well and is capable of fighting with a major pandemic. The city has launched a massive COVID-19 vaccine drive to protect the 9.89 million population. UAE converting the empty hotel apartments into quarantine centres was an innovative idea and helped reduce the spread of coronavirus. Dubai emerged has emerged as one of the fastest cities in the world to get over with the pandemic as UAE’s 12% population has already been given the first dose of the vaccine. Around 80,000 people get shots in a day. This is resulting in economic recovery and growth in tourism.”

Samana Greens Project

At the back of record highest sales revenues in 2020 and a positive outlook for 2021, Samana Developers has increased the headcount by 55% for 2021 to double up the sales revenue. Company has plans to launch three new residential projects in the investor hot-spots of Dubai.

Samana Developers completely sold out its Dhs185 million Greens and Hills projects in 2020. Company managed to fast-track the construction by introducing drastic changes in the way construction is done for its 327 units in total. Samana’s new construction management strategy helped complete the construction ahead of time.

Earlier in 2020, the superstructure of Dhs110 million Samana Hills residential project was completed ahead of schedule. Located at Arjan Dubailand, the resort-themed Samana Hills spreads over 100,000 sqft and houses 205 units, including studios, one and two-bedroom apartments. The ground was broken in September 2019, which is scheduled for handover in Q3 2021, coinciding with the high time of Expo 2020 mega economic opportunity. 

The construction of Dhs75 million Samana Greens has also been completed and fully sold out. The delivery of this project is expected this month as the project is on the final stages of getting the Building Completion Certificate (BCC) from the Dubai Land Department.

The Dhs100 million Samana Golf Avenue project at Dubai Studio City has been fast-tracked, sold out by 85% as of today and will be ready for handover in Q1 2023.

Samana Developers provides 50% financing to its buyers. Its assets guarantee competitive 24% returns at 8% per year over 3 years. It makes Samana projects attractive propositions for end-users and investors alike. With a payment option of paying 10 per cent on booking followed by 80 months at just 1 per cent makes it an excellent option for those that are looking to move from the rented accommodation to owning a house in Dubai.

Samana Developers’ studio apartment start from Dhs399,000 and one-bedroom unit from Dhs599,000. The studio, one and two-bedroom apartments come with various payment options making projects attractive to both end-users and investors.

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