Samana breaks ground on 176-unit Dubai luxury project
, April 25, 2022
UAE-based Samana Developers has broken ground on its AED130 million ($35.3 million) Samana Park Views project within Arjan community in Dubai.
Spanning over 183,323 sq ft, the design of 176 apartments of the G+6-storey Park Views project features water and wellness, said the developer in a statement.
The residential project includes studio, one and two-bedroom apartments with private pools. The project is scheduled for handover in Q2 2024, it added.
The project has close proximity to a community park, Dubai Miracle and Butterfly Gardens, the two major tourist attractions.
An environmentally-friendly luxury lifestyle project, Park Views has several key features including leisure decks, private pools with apartments in addition to yoga zone, an open cinema, juice bar, green areas, indoor and outdoor gyms, health club with steam and sauna facilities and 24-hour security.
Speaking at the ground-breaking ceremony, CEO Imran Farooq 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."
The event was attended by Group Chairman Muhammad Farooq, Director Kamran Farooq and General Manager Dalya Lebbihi along with other officials.
Following the launch of Park Views in October last year, more than 80 per cent of the total project was sold out in four days which is a reflection of investor interest.
"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.
According to him, a major reason for the investor interest was its flexible payment plan for units in various sizes - For studios (361 sq ft); One-bedroom (937 sq ft) and two-bedroom apartments (1,301 sq ft).
Under this, customers have to first make a 10 per cent down payment followed by 1 per cent over 70 months.
On the sixth month, they need to pay 10 per cent; on the 12th month its 5 per cent and on the 18th month another 5 per cent, he added.
