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Samana Developers sets ambitious target of Dh8 billion in 2024
03.01.2024 - 09:27 / traveldailynews.com / Vicky Karantzavelou
Samana will award 18 new construction contracts in 2024.
DUBAI, UNITED ARAB EMIRATES – Amid Dubai’s unprecedented growth in real estate transactions, Samana Developers reflects on a year of extraordinary accomplishments in 2023. The developer has surpassed the target of Dh3.3 billion in sales in 2023. Dubai’s status as a global destination for living, working, and business continues to propel its real estate market to new heights. The economic factors driving the city’s mega growth were evident in the strength of 2022, particularly in villas and A-graded residential apartments. However, 2023 has proven to be nothing short of magical, with increased demand across all property types, including residential apartments, villas, offices, warehouses, and commercial properties.
The luxury segment is embracing a new trend with the launch of an ultra-luxury project in Palm Jebel Ali. The success of Dubai in attracting businesses and the resounding achievements of the Dubai Golden Visa programme have been instrumental in fuelling this exceptional growth.
Looking ahead, Samana Developers predicts that 2024 will again surpass the outstanding achievements of 2023. Projections indicate a substantial 40%-50% growth in the overall market size, with the off-plan sector expected to maintain its dominance in 2023. Global investors are drawn to the convenience of payment plans, coupled with the added advantage of the Golden Visa for off-plan properties.
Building on the success of 2023 and achieving 600% growth and surpassing the Dh3.3 billion sales target, Samana Developers has set an ambitious target of achieving a higher target of Dh8 billion in 2024. This audacious goal is guided by the company’s commitment to completing construction on time, sometimes ahead of time, which enables Samana to deliver projects on time and with affordable luxury price tags.
In 2023, most of the construction activity remained either on schedule or ahead of it. On average, the company was able to achieve 100% of super-structure completion within 7 to 8 months of
commencement of construction.
Samana Developers can reveal that it will award 18 new construction contracts in 2024. Looking at 2024 plans, Samana will expand its workforce to 80% to achieve 455 new full-time employees. The induction will mostly be in the sales department.
Samana Developers has recently completed the Samana Golf Avenue project, setting a high standard for timely delivery. The company is poised to hand over four more projects in the next 13 months, most of which are ahead of schedule, laying a solid foundation for successful handovers in 2025 and beyond.
In a strategic move outside the UAE, Samana Developers is gearing up to launch a super-luxurious project in 2024,
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