DUBAI, United Arab Emirates, Business News: Taking advantage of Dubai real estate’s record recovery, Samana Developers today launched the Dh165 million Samana Waves project at Jumeirah Village Circle. The G+26 tower design embodies a resort theme with plenty of water features, green areas, event space and is beside Dubai’s main highways and close proximity to the city’s retail and leisure landmarks.
Earlier this year at a press conference Samana Developers announced three new projects, including Samana Waves. Three projects – Samana Golf Avenue-II, Samana Park Views and Samana Waves – have a combined value of Dh405 million (USD110 million) and are located in Arjan, Dubai Studio City and JVC.
Imran Farooq, the CEO, Samana Developers, said: “Market indicators are pointing to a rising bullish trend which is expected to witness a growth of up to 7.9% during rest of 2022. And at the back of a successful vaccination programme, the opening of international borders, low interest rates, UAE government measures and investors / end-users seeking to upsize homes amid a need for more space since the Covid-19 pandemic began, Dubai real estate experienced astounding 2.1% price growth in the second half of 2021, reaching to a growth trend seen before the historic financial crash in 2008.”
A similar bullish trend was noted in a report published by Dubai Land Department, showing, Dubai in January 2022 saw over 51,452 rental contracts in the Dubai market with an even split between new and renewal contracts. The most popular apartment rental contracts were for 2-bedroom apartments with 1-bedroom trailing right behind and the most popular villa and townhouse rental contracts.
“At our new Samana Waves project, we created a luxury and close to everything what residents need – Al Maktoum International Airport, hospitals, schools, malls, commercial districts, adjacent to Dubai’s key road network – Al Khail Expressway and Mohammed Bin Zayed Highway connecting all cities of the UAE.”, concluded Imran Farooq.
