Global hotel dealmaking will speed up in 2024 thanks to a more positive financing environment, exceeding 2023’s unusually low level by 15% to 25%.
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,
Global hotel dealmaking will speed up in 2024 thanks to a more positive financing environment, exceeding 2023’s unusually low level by 15% to 25%.
In 2023, Hilton opened 132 hotels with around 24,000 rooms between October and December 2023, the largest number of new rooms opened during any quarter in the hotel giant’s history, and it expects to continue that positive growth into 2024.
Although 2023 has ended, there may still be an opportunity to snag the next level of United Premier status for 2024. United has targeted some members with an offer to purchase the status level above what they earned in 2023.
Strong representation from the Kingdom expected at Arabian Travel Market 2024 as Saudi Arabia increases its 2030 visitor target to 150 million Saudi Arabia attracted 27.6 million overnight tourists in 2023, according to research commissioned by ICAEW and compiled by Oxford Economics The Kingdom aims to increase the economic contribution of its tourism sector to 10% of national GDP by the end of the decade, in line with Vision 2030
Japan ended 2023 with a record number of visitors in December, capping off a year in which its tourism industry made a significant recovery from the pandemic.
With a deluge of foreign visitors fueling seemingly nonstop development on once pristine Greek islands, local residents and officials are beginning to fight back, moving to curb a wave of construction that has started to cause water shortages and is altering the islands’ unique cultural identity.
Minister of Tourism, Hon. Edmund Bartlett is leading a collaborative effort between public and private sector stakeholders to build capacity and systematically address the pain points in the tourism industry. Minister Bartlett made the disclosure following a meeting with industry partners, which he led in conjunction with the president of the Jamaica Hotel and Tourist Association (JHTA), Robin Russell, yesterday (January 11) at the AC Marriott Hotel.
Ahead of the competition’s highly anticipated opening clash between hosts Qatar and Lebanon, the Lusail Stadium welcomed fans from across Asia to bask in the splendour of Asia’s crown jewel.
With a deluge of foreign visitors fueling seemingly nonstop development on once pristine Greek islands, local residents and officials are beginning to fight back, moving to curb a wave of construction that has started to cause water shortages and is altering the islands’ unique cultural identity.
When you think of Norwegian Cruise Line Holdings, you probably think of its giant amusement park-like cruise ships with 10-story-tall slides, go-kart tracks, and many families.
A new high-speed rail service hopes to link the UK cities of Edinburgh and London by the end of 2024.
Ras Al Khaimah Tourism Development Authority (RAKTDA) reports its best year for tourism ever, welcoming a record 1.22 million overnight arrivals to the nature Emirate in 2023, up 8% on 2022 numbers and bolstered by a significant 24% year-on-year pick-up in international visitors. The robust performance is underscored by RAKTDA’s strategic growth plans. From investment in tourism infrastructure, targeted initiatives to drive more visitors to the emirate, to developing an ecosystem rooted in sustainability, Ras Al Khaimah continues to reinforce its position as a destination of the future. Its key 2023 achievements include: