UAE-based Samana Developers has been ranked as the top-selling off-plan developer in the Arjan community in Dubai by Property Monitor, one of the UAE’s leading real estate data and market intelligence companies, competing with all large, mid and small size developers.
Due to the quality construction and flexible payment plans, Samana assets remained a hot favourite among end-users, said the UAE developer in its statement.
Real-time market data from Property Monitor is constantly showing Samana Developers at the top of the Arjan market achieving 147 off-plan sales, with Oqood registrations, valuing at Dh 83.62 million ($22 million) since September 2020. Samana Developers is still at the top of the rankings, it stated.
Samana had last month announced that its total revenue increased to 65% since Q2 2020. That was the ninth consecutive month – April to December 2020 - that the developer had reported a growth in revenue generated month-on-month despite roadblocks raised by the pandemic, it added.
The company has increased its headcount by 55% and has doubled its sales revenue target for 2021.
On the key achievement, CEO Imran Farooq said: "We have off and on been releasing the updates of our properties through the media, showing bullish trends in our property assets. Despite the pandemic challenges, we remained committed, resilient and focused on keeping the project workflow uninterrupted, which eventually led projects to early completion."
"Remaining focused and consistent in project continuity and construction works was an uphill task during the pandemic lockdown period. But we were able to manage it successfully. Samana has set a new benchmark in Dubai’s real estate market when there have been project delays and developers facing losses," stated Farooq.
Its AED110-million Samana Hills and AED75-million Samana Greens have been completely sold out despite the Covid-19 hardships, while its AED100-million Samana Golf Avenue project's sales remains 90 per cent completed as of today.
A key reason for its solid sales has been the group's flexible payment options for its units.
Samana's studio apartments starting from AED399,000, one-bedroom and two-bedroom units come with various payment options - from AED599,000 - making projects attractive to both end-users and investors.
Its 75 months at one per cent (1%) scheme after the initial 10 per cent down-payment makes the project affordable to mid-level investors.
Zhann Jochinke, COO of Property Monitor, said: "Samana had incredible success with their projects in 2020 and this continues into 2021, at a time when other off-plan projects are seeing less activity and interest from buyers and investors. Achieving the balance between price point, demand, and quality, is never an easy task and Samana has managed to hit all aspects superbly."
Samana Developers managed to fast-track the construction by introducing double shift of workers, keeping an eye on workers’ health condition with the PPE and SOPs intact, on project timelines and remote monitoring through CCTV cameras installed at the project sites and connecting them to Samana’s back-office. These measures helped Samana to complete the construction not only on-time but ahead of time, he added.-TradeArabia News Service