Five-storey residential complex set for handover by Q3 2021
Samana Developers, the Dubai-based real estate development firm, has announced that the superstructure of its apartment complex, Samana Hills, has been completed ahead of schedule.
In a statement, the developer said that the five-storey residential complex, which is being built at an investment of $27.2 million, is set for handover in the third quarter of 2021. The project broke ground in September 2019 and construction has since been fast-tracked, it added.
Located at Arjan Dubailand, the resort-themed Samana Hills will be spread over 100,000sqft and will house 205 apartments, including studios, one and two-bedroom apartments.
Studio apartments start from $108,600 and one-bedroom units from $163,000, the developer said, adding that various payment options make the project attractive to both end-users and investors.
Announcing the achievement, Samana said the superstructure completion ahead of the schedule comes at a time when the COVID-19 pandemic related lockdown adversely affected Dubai’s real market.
Despite the pandemic hardships, Samana Developers has set a new benchmark of early project completion and handover preponement, it stated.
“We felt it was our obligation to construct the project before we ask buyers to put their money into the property. As Dubai’s real estate market matures further, with tighter regulations and transparency, property buyers are looking for the timely delivery of the project as well as the quality finishing,” remarked its CEO Imran Farooq.
“It is unprecedented in Dubai’s real estate when there are project delays and developers facing losses. The five-storey Samana Hills residential project is scheduled for handover in Q3,” he added.
According to him, Samana Developers remained resilient and was committed to continue the construction works.
“The efficient project management in fact accelerated the construction speed and the developer is now able to complete the project ahead of schedule and eventually prepone the handover,” he concluded.