Samana launches ‘Samana Mykonos Signature’ residential project
Development of 276 units will allow owners to sub-lease to tourists and visitors
Samana Developers have unveiled a new $81.74mn mid-luxury residential project, located in the Arjan neighbourhood in Dubai. Samana Mykonos Signature is the third project in a series of 12 set to be launched during 2023, the developer explained.
With Dubai seeing a growth in tourist influx from Europe, the design and name of the new project has been derived from the island of Mykonos, a popular tourist resort in Greece, widely known for its vibrant nightlife and international lifestyle appeal.
Samana Mykonos Signature brings the resort concept to the residential sector in Dubai. Tourists visiting Dubai will find it an affordable option when compared to the cost of staying at luxury hotels. There are also 24 retail units catering for a range of everyday needs, the developer added.
In mid September 2022, Samana Developers launched its $29.9mn Miami residential project and, in mid January 2023, the developer said it would invest $680mn into 12 new projects in 2023.
Imran Farooq, Chief Executive Officer of Samana Developers, commented: “We believe today’s buyer is intelligent and has loads of options available to choose from. That is why we bring something new, sustainable, environmentally friendly yet affordable. That’s the uniqueness of our Samana Mykonos project, which was quickly sold out. I thank the buyers who trusted us, the network of brokers and the Samana team who work tirelessly. And we are now replicating, rather, launching an enhanced version of our Mykonos project – and we have named it Samana Mykonos Signature.”
The project covers 419,947sqft and will have 276 units, due to be delivered in October 2025. The project features a host of amenities – infinity pool, leisure pool deck, swimming pool, kids pool, private swimming pools, green areas, health club, jacuzzi, steam room, kids play area, outdoor cinema, barbeque area, valet parking and 27/4 security.
To give added value to investors, Samana Developers has introduced a new income-generating facility for its homebuyers. Under the Samana Holidays brand, buyers can convert their apartments into holiday homes at any time and sub-lease to tourists and visitors. The conversion into serviced apartments for subletting then benefits both parties – homeowners stand to make an additional income, while the tourist tenant will save on excessive hotel charges, especially in the peak tourist season, the statement concluded.
In late March 2023, Samana launched its $54.5mn Waves-2 residential project in JVC, Dubai.
