Latest news with #ImranFarooq
Web Release
3 days ago
- Business
- Web Release
Samana Hills South Achieves Unprecedented Sell-Out Within 90 Minutes of Launch, Underscoring Robust Market Confidence in Dubai South
Samana Developers, a distinguished and award-winning real estate developer based in Dubai, is pleased to announce the exceptional sell-out of its latest residential masterpiece, Samana Hills South, within a remarkable 90 minutes of its official launch. This AED 400 million development exemplifies Samana Developers' unwavering commitment to pioneering resort-style residential communities that meet robust market demand. Strategically positioned within Dubai South, near the rapidly expanding Al Maktoum International Airport, Samana Hills South features 510 exquisitely designed studios, 1, and 2-bedroom apartments, all boasting elegant finishes and competitively priced from AED 570,000. Residents are afforded an unparalleled lifestyle, with access to over 30 resort-style amenities, including an outdoor cinema, wellness lounge, dedicated kids' play area, and an aqua gym & spa. Offering flexible payment plans and substantial return on investment (ROI) potential, Samana Hills South represents a compelling opportunity for both discerning homeowners and astute investors. 'The extraordinary demand for Samana Hills South, achieving a full sell-out in just 90 minutes, is a powerful testament to the robust confidence investors and homeowners place in Dubai's dynamic real estate market and our strategic vision,' stated Imran Farooq, CEO of Samana Developers. 'Our decision to develop in Dubai South is unequivocally anchored by its undeniable potential as the epicentre of future growth. With Al Maktoum International Airport poised to become the world's largest, capable of managing 260 million passengers annually, and the imminent creation of 500,000 new jobs alongside the ongoing development of Expo City, this district is experiencing unprecedented expansion.' Samana Developers' robust portfolio, exceeding AED 17 billion and commanding a 4.4% market share, underscores its unwavering dedication to strategic growth and innovation. The successful introduction of 12 new projects in 2024, including the globally acclaimed Samana Ocean Views Interiors by Elie Saab, highlights the developer's expansive vision and diverse offerings. Properties are meticulously chosen for their strategic locations, offering compelling opportunities for capital appreciation and attractive rental yields for both discerning end-users and astute investors. Samana Developers consistently receives accolades for its commitment to unparalleled quality and pioneering innovation within the real estate sector.
Mid East Info
24-06-2025
- Business
- Mid East Info
Samana Hills South Achieves Unprecedented Sell-Out Within 90 Minutes of Launch, Underscoring Robust Market Confidence in Dubai South
Samana Developers, a distinguished and award-winning real estate developer based in Dubai, is pleased to announce the exceptional sell-out of its latest residential masterpiece, Samana Hills South, within a remarkable 90 minutes of its official launch. This AED 400 million development exemplifies Samana Developers' unwavering commitment to pioneering resort-style residential communities that meet robust market demand. Strategically positioned within Dubai South, near the rapidly expanding Al Maktoum International Airport, Samana Hills South features 510 exquisitely designed studios, 1, and 2-bedroom apartments, all boasting elegant finishes and competitively priced from AED 570,000. Residents are afforded an unparalleled lifestyle, with access to over 30 resort-style amenities, including an outdoor cinema, wellness lounge, dedicated kids' play area, and an aqua gym & spa. Offering flexible payment plans and substantial return on investment (ROI) potential, Samana Hills South represents a compelling opportunity for both discerning homeowners and astute investors. 'The extraordinary demand for Samana Hills South, achieving a full sell-out in just 90 minutes, is a powerful testament to the robust confidence investors and homeowners place in Dubai's dynamic real estate market and our strategic vision,' stated Imran Farooq, CEO of Samana Developers . 'Our decision to develop in Dubai South is unequivocally anchored by its undeniable potential as the epicentre of future growth. With Al Maktoum International Airport poised to become the world's largest, capable of managing 260 million passengers annually, and the imminent creation of 500,000 new jobs alongside the ongoing development of Expo City, this district is experiencing unprecedented expansion.' Samana Developers' robust portfolio, exceeding AED 17 billion and commanding a 4.4% market share, underscores its unwavering dedication to strategic growth and innovation. The successful introduction of 12 new projects in 2024, including the globally acclaimed Samana Ocean Views Interiors by Elie Saab, highlights the developer's expansive vision and diverse offerings. Properties are meticulously chosen for their strategic locations, offering compelling opportunities for capital appreciation and attractive rental yields for both discerning end-users and astute investors. Samana Developers consistently receives accolades for its commitment to unparalleled quality and pioneering innovation within the real estate sector. About SAMANA Developers: SAMANA Developers, an award-winning real estate developer based in Dubai with growing international portfolio. With a focus on creating sustainable and elegant living spaces, SAMANA Developers has seamlessly delivered a wide range of residential and commercial projects climbing to the top seven highest off-plan sellers in 2024. Known for their innovative designs, premium amenities, and prime locations, SAMANA Developers' projects have set new standards in the UAE real estate market. The company's dedication to excellence has earned them a reputation for delivering exceptional value and investment opportunities with more than 1,300 units handed over and 11,000 units under construction. SAMANA has scooped multiple esteemed awards for pioneering concepts, innovative designs, and sustainability.
Zawya
24-06-2025
- Business
- Zawya
Samana Hills South achieves unprecedented sell-out within 90 minutes of launch
DUBAI, UAE – Samana Developers, a distinguished and award-winning real estate developer based in Dubai, is pleased to announce the exceptional sell-out of its latest residential masterpiece, Samana Hills South, within a remarkable 90 minutes of its official launch. This AED 400 million development exemplifies Samana Developers' unwavering commitment to pioneering resort-style residential communities that meet robust market demand. Strategically positioned within Dubai South, near the rapidly expanding Al Maktoum International Airport, Samana Hills South features 510 exquisitely designed studios, 1, and 2-bedroom apartments, all boasting elegant finishes and competitively priced from AED 570,000. Residents are afforded an unparalleled lifestyle, with access to over 30 resort-style amenities, including an outdoor cinema, wellness lounge, dedicated kids' play area, and an aqua gym & spa. Offering flexible payment plans and substantial return on investment (ROI) potential, Samana Hills South represents a compelling opportunity for both discerning homeowners and astute investors. "The extraordinary demand for Samana Hills South, achieving a full sell-out in just 90 minutes, is a powerful testament to the robust confidence investors and homeowners place in Dubai's dynamic real estate market and our strategic vision," stated Imran Farooq, CEO of Samana Developers. "Our decision to develop in Dubai South is unequivocally anchored by its undeniable potential as the epicentre of future growth. With Al Maktoum International Airport poised to become the world's largest, capable of managing 260 million passengers annually, and the imminent creation of 500,000 new jobs alongside the ongoing development of Expo City, this district is experiencing unprecedented expansion." Samana Developers' robust portfolio, exceeding AED 17 billion and commanding a 4.4% market share, underscores its unwavering dedication to strategic growth and innovation. The successful introduction of 12 new projects in 2024, including the globally acclaimed Samana Ocean Views Interiors by Elie Saab, highlights the developer's expansive vision and diverse offerings. Properties are meticulously chosen for their strategic locations, offering compelling opportunities for capital appreciation and attractive rental yields for both discerning end-users and astute investors. Samana Developers consistently receives accolades for its commitment to unparalleled quality and pioneering innovation within the real estate sector. About SAMANA Developers SAMANA Developers, an award-winning real estate developer based in Dubai with growing international portfolio. With a focus on creating sustainable and elegant living spaces, SAMANA Developers has seamlessly delivered a wide range of residential and commercial projects climbing to the top seven highest off-plan sellers in 2024. Known for their innovative designs, premium amenities, and prime locations, SAMANA Developers' projects have set new standards in the UAE real estate market. The company's dedication to excellence has earned them a reputation for delivering exceptional value and investment opportunities with more than 1,300 units handed over and 11,000 units under construction. SAMANA has scooped multiple esteemed awards for pioneering concepts, innovative designs, and sustainability.
Mid East Info
24-06-2025
- Business
- Mid East Info
Foreign Investors Drive Dubai's Growth: 86% of Samana Developers' Sales Attributed to International Buyers, Bolstering City's FDI Influx
Samana Developers, an award-winning real estate developer based in Dubai, today announced that an impressive 86% of its property sales are attributed to foreign buyers, underscoring a robust international vote of confidence in Dubai's real estate market and its significant contribution to the Emirate's Foreign Direct Investment (FDI) inflows. This remarkable trend at Samana Developers mirrors the broader economic narrative of the UAE. According to the latest report by the United Nations Conference on Trade and Development (UNCTAD), foreign direct investment (FDI) flows into the country surged to Dh167 billion ($45 billion) last year, marking a substantial 48 percent increase compared to the previous year. Within this vibrant landscape, data from the Dubai FDI Monitor highlights that real estate alone contributed a significant 14% of the total estimated FDI capital flows into Dubai in 2024, solidifying its role as a key driver for the city's economic expansion. The dominant nationalities among Samana Developers' foreign buyers include investors from India, UK, Egypt, and Syria, reflecting Dubai's widespread appeal as a stable and lucrative investment destination. The surge in international investment comes amidst a flourishing real estate market in Dubai. The residential sector, in particular, witnessed strong performance in the first quarter of 2025, recording approximately 42,000 sales transactions valued at AED 114.4 billion. This represents a substantial year-on-year increase of 23.1% in volume and 29.6% in value. Property Finder's data further corroborates this vigor, reporting 45,474 transactions totalling AED 142.7 billion in Q1 2025, marking a 22% increase in volume and a 30% surge in value compared to Q1 2024. Monthly figures underscore this momentum, with May 2025 witnessing a historic AED 66.8 billion in sales across 18,700 deals, a 44% year-on-year value surge. The commercial office market has mirrored this strength, with sales transactions increasing by 23.7% year-on-year and values soaring by 83.1% in Q1 2025. Imran Farooq, CEO of Samana Developers , stated, 'The fact that 86% of our sales come from foreign buyers is a powerful testament to the global trust and confidence in Dubai's economy and its real estate sector. This directly translates into significant Foreign Direct Investment, reinforcing Dubai's position as a leading global hub for business and lifestyle. The latest market data, with residential transactions soaring by nearly 30% and commercial values by over 83% in Q1 2025, validates the robust and attractive environment we offer to international investors seeking high returns and unparalleled stability.' With a portfolio exceeding AED 17 billion and a 4.4% market share, Samana Developers demonstrates a clear dedication to growth and innovation. The successful launch of an impressive 12 new projects in 2024, including their latest global launch of Samana Ocean Views Interiors by Elie Saab, showcases their commitment to expanding their offerings. Their strategically located properties appeal to both end-users and investors, offering compelling opportunities for capital appreciation and healthy rental yields. Samana Developers has consistently been recognized for its dedication to quality and innovation in the real estate sector. The recent launch of the Happiness Centre further solidifies the company's devotion to not only constructing exceptional homes but also cultivating a community of satisfied and loyal homeowners, setting a new benchmark for customer service in the region's real estate industry. About SAMANA Developers: SAMANA Developers, an award-winning real estate developer based in Dubai with growing international portfolio. With a focus on creating sustainable and elegant living spaces, SAMANA Developers has seamlessly delivered a wide range of residential and commercial projects climbing to the top seven highest off-plan sellers in 2024. Known for their innovative designs, premium amenities, and prime locations, SAMANA Developers' projects have set new standards in the UAE real estate market. The company's dedication to excellence has earned them a reputation for delivering exceptional value and investment opportunities with more than 1,300 units handed over and 10,000 units under construction. SAMANA has scooped multiple esteemed awards for pioneering concepts, innovative designs, and sustainability.
Gulf Business
05-05-2025
- Business
- Gulf Business
Samana CEO on off-plan frenzy, Dubai's boom, and building an empire
Imran Farooq, the CEO of Samana Developers Imran Farooq is no stranger to Dubai's fast-moving real estate game. As CEO of Samana Developers, he has steered the company into the top tier of the emirate's fiercely competitive off-plan market — so much so that its recent billboard campaign proudly touts its place as the '7th largest developer' in Dubai, a rare show of confidence in a city where everyone claims to be number one. Under Farooq's leadership, Samana has posted extraordinary annual growth of 229 per cent over the past five years, launching projects across residential, retail, office and even hospitality. The company has also expanded internationally, with a headline-grabbing development in the Maldives offering five-star resort villas under a 99-year leasehold. In this candid interview, Farooq explains why Dubai continues to attract global wealth amid geopolitical instability, why the off-plan market is still red hot, and why demand for Grade A office space is soaring. He also reveals Samana's next major play — a master-planned community — and why controlling the entire construction supply chain is now essential. Farooq further lifts the lid on the thinking behind that '7th largest' billboard, the firm's growing appeal to international investors, and how Samana is preparing for a world where real estate demand in Dubai only continues to rise. How do you see the state of the Dubai real estate market today? Some earlier reports suggested stabilisation, but recent data from the likes of Property Finder and Bayut show continued strong momentum. What's your take? I think things are going great guns: there's zero doubt about that. Overall, Dubai is becoming more and more popular. Look at what's happening in the West, particularly the UK. The government there seems to be driving wealthy individuals away with harsh tax policies. As a result, the UK is losing the most millionaires and billionaires, and Dubai is the biggest beneficiary. I believe 63 or 64 per cent of Brits relocating are coming to Dubai, making it the number one destination globally for high-net-worth individuals. A few years ago, France had similar discussions in its parliament about global taxation. That pushed more people out. And now, with new disturbances in the US, I suspect we'll see even more capital flow towards Dubai. On top of that, geopolitical instability across the Arab world is also driving people here. It's not any one sector driving the demand — it's everything. The pandemic was a huge catalyst. Dubai responded quickly with the remote work visa, followed by the golden visa. The price threshold for the golden visa has also come down — from Dhs10m to Dhs2m — and you can now qualify with just 20 per cent down on an off-plan property. That's a huge pull factor. People often ask if Dubai is only for the rich. I don't think so. Dubai is attracting people across the board, including the workforce. Even conflicts like the Russia-Ukraine war brought both Ukrainians and Russians here, many felt mistreated in the West and sought refuge. Dubai is now seen as a global safe haven: not just for one nationality or group, but for people from all over the world. Who are the biggest buyers in the off-plan segment today? Everyone. We promote Samana projects in more than 55 countries, and we've done very well globally. Around 70 per cent of our sales come from about 20 countries. At each launch, the dominant nationality changes — it could be Indians, French, or Emiratis — it really depends on who gets access first. For example, 85 per cent of our stock typically sells out within 48 hours of launch. That tells you demand is far outpacing supply. So it's not about who's buying the most; it's about who gets there first. And this is all off-plan? Yes, entirely. That's our expertise. From a cash flow point of view, we're very comfortable. Within a year, we usually collect 40 to 45 per cent of the sale value. That gives us the capital to focus entirely on project delivery. Are prices continuing to rise then, from what you're seeing? Yes. There's a common belief that enough property is being launched, but I disagree. Population is growing at 12–13 per cent annually, and even if every project is delivered on time, there would still be a shortage. We'd see rental prices coming down if there were enough supply, but that's not happening. Rents are still rising across the board. Some landlords may be asking for a 15 per cent hike instead of 30 per cent, but the overall trend is upward. Streets are busy, offices are full, and even basement parking is packed. Our own data and conversations with DEWA confirm demand for electricity and water is up 13 per cent. We're also seeing more premium buyers. Transactions worth Dhs200m and above were unheard of before. Now they happen regularly in Emirates Hills, Dubai Hills, Palm Jumeirah. When buyers like that come in, they also demand high-end rental properties, supercars, and more. The economic wheel is spinning fast. Many residents in Dubai have seen your billboard on the highway saying that Samana is the '7th Largest Developer.' That really stands out. Most companies would say they're number one. Why highlight number seven? Good question. The ranking comes from official Land Department data, which is collated in real-time by Property Monitor. Based on the number of units sold, we're ranked 7th and hold a 4.4 per cent market share, which is huge when you consider how competitive the market is. The top developers — Emaar, Nakheel, Meraas — are backed by Sheikh Mohammed and hold vast desert land. So we take pride in being independent and still ranked so highly. Out of 1,200–1,300 developers in Dubai, just 13–14 control 91 per cent of the market. That makes our share even more meaningful. This year, we expect to be 6th, and as of now we're actually 5th. But we're comfortable sitting in the 6–7 range. We're not aiming to be number one: that's a different playing field. That growth must have required some serious momentum in terms of your sales? Absolutely. Over the last five years, we've grown at a compound annual rate of 229 per cent. This year, we're expanding beyond residential. We've launched our first commercial office tower — Samana Barari Avenue — and will also launch a hotel and several retail projects. Our mission, announced last October, is to operate across all real estate verticals: offices, hotels, retail, warehouses, labour accommodations: you name it. Why the shift into office space? Office space has been the best-performing asset in the past 12 months. Rents have more than doubled. In Bay Square, for instance, our rents have tripled since 2020. No one was building office towers post-2008, so supply dried up. There's strong demand for Grade A+ office space with resort-style amenities with swimming pools, gyms, retail, cafes and more. Our Barari Avenue project offers all of that. You've also gone international with a project in the Maldives? Yes. Our first Maldives project is a partnership with Elie Saab. The entire island is managed by Samana: it's fully self-sustaining, with its own electricity, water, sewage, hospital, mosque, and even fire brigade. Buyers can rent their villa for up to $2,000 per night, five-star level, white-labelled, professionally managed. We also offer flexibility: keep it for personal use, rent it out via a hotel pool, or manage it directly. We provide an app where you can switch modes with a click. Ownership is under a 99-year lease, which is essentially freehold. We currently own three islands. The Maldives government is also in the final stages of introducing a golden visa programme for investments from $500,000 upwards, which will certainly help attract more buyers. What else should we keep an eye on in the property market right now? One important thing during this boom is that selling is easy, but building will become harder. So we've invested Dhs150m in setting up our own in-house contracting company. This gives us control over quality, consistency, and delivery speed. We're no longer reliant on third-party contractors and can build to our own standards. It's part of our strategy to own the entire value chain. By the end of the year, we'll also announce our own master community. I can't reveal the location yet, but it's part of our diversification strategy — end-to-end development. Incredible. Thanks for your time, Imran. My pleasure.
