(DUBAI): Samana Developers, one of the fastest growing real estate companies in Dubai, today launched a Dh215 million California residential project. This is the first project in Al Furjan neighbourhood, which is headed by master developer Nakheel Properties.
The demand for Dubai properties is currently highly bullish and positioned the metropolitan city as the world’s top market hitting Dh11.3 billion ($3.1 billion) in the first half of the year, edging past Hong Kong and New York.
The G+P+10+Roof California is the 6th project launched by Samana Developers in H1 2023. Samana has a target to launch 12 projects by the end of 2023. The new project is inspired by the vibrant lifestyle of the state of California, a lifestyle which reflects in the design, features and amenities of the project. It quickly attracted buyers and the project has been sold out by 90% in a few days.
Imran Farooq, Chief Executive Officer of the Samana Developers, commented: “Samana’s new concepts and the designs inspired by the resorts and islands are picking up well by property buyers, especially from Europe and the UK who account for 50% of the investors of Samana Developers. In addition, other key contributors that are helping boost Dubai real estate transactions are the 10-year UAE residency, fast recovery from the Covid-19 pandemic, the success of Expo 2020 and UAE winning the hosting rights for the Cop28, United Nations Climate Change Conference.”
“The new investment trend which is also contributing to the high demand of Dubai real estate is the depreciation of the US dollar – 3.3% in H1 2023 – which has made it more affordable for buyers from European countries whose currencies have gained value against the dollar.”, Imran said.
Samana California Project
The Dh215 million California spans over 2,54,000 sqft which has 178 apartments. The units include 60 studio apartments with private pools, 76 one-bedroom apartments with private pools, 32 two-bedroom apartments, and 10 two-bedroom duplex apartments.
The amenities and features at Samana California reflect the lifestyle of the US state of California. These include a large leisure pool deck, a main swimming pool, a fully-equipped gym, a kids’ pool, a splash pad for kids, a sauna and steam room, a jacuzzi, a waterfall, a jogging track, a roof-top tennis court, a paddle court, an outdoor cinema, and a barbeque area.
The project is scheduled for handover in December 2025.
Samana Holiday Homes
Samana Developers allows and facilitates its buyers to convert the apartments into holiday homes (serviced apartments) and sub-lease to tourists and visitors. This facility benefits both, the homeowner making an additional income, and the tenant saving on exorbitant hotel charges. In addition, Samana Developers guarantees competitive 24% returns.
Payment Plan – 8 Years
Samana California apartment prices start from Dh749,000 (USD 203, 920). It is a total of eight years of payment plan. The flexibility of installments makes it affordable for first-time buyers.
Al Furjan Neighbourhood
Al Furjan is a vibrant and popular residential area in Dubai, headed by master developer Nakheel Properties. It is located between Sheikh Zayed Road (E11) and Sheikh Mohammed Bin Zayed Road (E311). Al Furjan community boasts a shared network of pathways and residential amenities. Residents benefit from linked cycle routes running through Discovery Gardens, Garden View Villas (part of Jebel Ali) and Al Furjan, resulting in a 40 km cycle track for the communities. Al Furjan neighbourhood is home to Al Furjan Metro Station, one of the seven metro stations on Route 2020.