Samana Developers, a top-ranked real estate company in Dubai, today broke ground for Dh130 million Samana Park Views project in Arjan. The project has close proximity to a community park, Dubai Miracle and Butterfly Gardens, the two major tourist attractions.
The ground-breaking ceremony was attended by Mr Muhammad Farooq, Chairman of Samana Group, Mr Imran Farooq, Group Chief Executive Officer, Mr Kamran Farooq, Director of Samana Group and Ms Dalya Lebbihi, General Manager of Samana Group, along with other officials.
Following the launch of Park Views in October 2021, more than 80 per cent of the total project was sold out in four days which is a reflection of investor interest. At a brokers’ event hosted by Samana Developers, both brokers and buyers noted that Samana’s commitment to building the luxury lifestyle residences with affordable prices has been the key attraction for investors.
Spanning over 183,323 sq ft, the design of 176 apartments of the G+6-storey Park Views project features the water and wellness. The residential project includes studio, one and two-bedroom apartments with private pools. The project is scheduled for handover in Q2 2024.
Imran Farooq, Chief Executive Officer of Samana Developers, said: “We have been bullish before rolling out Park Views. The project has been receiving a high volume of interest from the investors as well the end-users. I believe the distinct design inspired by the nature and incorporating resort-style living attracted greater interest. This trend is likely to continue in years to come. In addition, World Expo 2020 of course accelerated the demand for our signature properties and helped in fast selling of the project.”
“In the wake of environmental and affordability concerns emerging from the Covid-19 pandemic, which is almost over but will continue its ripple effects, these trends will remain in demand,” Imran noted.
The award-winning Samana Developers created the environmentally-friendly luxury lifestyle Park Views project which features: leisure decks, common swimming pools for adults and kids separately, private pools with apartments, plenty of water features in the project, recycling the drainage water for irrigation and plantation, yoga zone, open cinema, juice bar, green areas, indoor and outdoor gyms, health club with steam and sauna facilities and 24-hour security.
“UAE’s newly announced revolutionary visa residency schemes have boosted the investor interest in Dubai real estate. People are planning for a longer stay in the UAE. The 10-year Golden Visa for property investors and eventually UAE citizenship are some of the initiatives under UAE’s economic reforms programme that are creating a sense of belonging among expatriates. At the same time, it is another major attraction for real estate investors,”, Imran concluded.
Park Views project has a flexible payment plan with a 10 per cent down payment, 1 per cent over 70 months, 10 per cent in the 6th month, 5 per cent in the 12th month, and 5 per cent in the 18th month. Prices start from AED 459,000. The unit sizes start from 361 sqft for studios, 937 for one-bedroom, and 1,301 for two-bedroom apartments.