Property

Samana launches $54.5mn Waves-2 residential project in JVC Dubai

The new residential project will feature a number of amenities and is scheduled for handover in Q1 2026

Samana Developers has launched its Waves-2 residential project, following the launch and sell out of its Waves-1 residential project. Waves-2 is taking shape adjacent to Waves-1 in Jumeirah Village Circle (JVC) in Dubai, and will look to mimic the features of the Waves-1 project, the developer stated.

According to the developer, the Waves-2 residential tower will feature a G+3P+23 configuration, and will span over 263,636sqft. The project is said to have been designed by a team of expert architects who incorporated the modern trend of luxury living within budgets. The handover of the project is scheduled for Q1 2026.

Plenty of water features, private pools, water cascades, a leisure deck, a health club, valet parking and retail spaces make it a mid-luxury property right in the centre of the bustling city, the statement added.

In mid September 2022, Samana launched its $29.9mn Miami residential project and, in early January 2023, the firm said it would invest $680mn into 12 new projects in 2023.

Imran Farooq, the CEO of Samana Developers said, “Dubai’s real estate market is currently witnessing a historic rise. The bullish trend, kick starting in 2023 at the back of regional and international events, is expected to continue during the rest of 2023. The emirate’s residential market saw 8,515 transactions, an enormous 43.9% increase from the previous year according to CBRE Dubai real estate report.”

Beyond the property market, Dubai’s economic boom is evident in everyday life. Every month, a new high-end real estate project appears in the sandy emirate, a bustling, hyper-modern metropolis in the Middle East, the statement pointed out.

“We keep an eye on new market developments, new trends, new policies and come up with an out of the box approach, and how we can create something new which makes us stand apart from the clutter, as well as attracts international buyers and increases investment returns”, concluded Farooq.

In late January 2023, the Dubai Land Department said it had issued 9,047 permits in 2022.

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