Samana Developers, a Dubai-based boutique real estate developer, has broken ground on its maiden real estate project with an attractive offer of seven per cent discount for buyers who would want to make payments through cryptocurrency.

The Dh75-million ($20.4 million) Samana Greens residential project - a freehold property - will deliver 131 residential units comprising studio to two-bedroom apartments.

The project, which will make use of green building features, is coming up at Dubai’s new upmarket community Arjan.

Located right opposite to the Miracle Gardens tourist attraction, Samana Greens will be easily accessible through two major expressways – Al Khail Road and Mohammed Bin Zayed Road – and gives its residents easy access to the major attractions to the city of Dubai.

Arjan master community is a new and growing neighbourhood and is surrounded by Arabian Ranches, Sports City, Jumeirah Village Circle, Dubai Hills, along with close proximity to a five-star hospital and three schools.

The project will be completed in April 2020 – six months before the mega Dubai Expo kicks off.

In a novel scheme, Samana Group - the holding company of Samana Developers - is currently deploying the option of cryptocurrency payments across the group.

Property buyers will be able to make transactions by using developer’s digital currency channel, which will save time and effort, stated the developer.

Samana Greens will be developed as per the green building best practices utilizing the green technology. The residential units will be loaded with smart home technology to enable them energy-efficient making residents’ stay more comfortable and luxurious.

Samana Developers is part of a diversified Dubai-based conglomerate with interests in multiple businesses and services. The group has deployed the best resources for the design and development of its maiden project.

The G+4 project comes with ample parking space, landscaping and other associated facilities with a built-up area of 140,000 sq ft. The residential project brings several retail outlets, luxurious sauna and gymnasium, a themed retail area, basement parking, secured play area for kids and plenty of green spaces for its residents.

The project – a green and sustainable development – will compliment Dubai’s real estate with additional supplies to help re-balance the demand-supply mismatch.

Group CEO Imran Farooq said: "As a developer with a futuristic vision, Samana Greens will be based on green building concepts. It is befitting to help the customers to give the freedom to choose their preferred mode of payments – be it cash, cheque, credit card, home finance, bank transfer of cryptocurrency – which is gaining popularity every day."

"Dubai’s mature and well-regulated real estate market and its inclination to high-quality living has given us confidence to start our journey in real estate market," stated Farooq.

"As a new developer, we see enormous possibilities for our projects to be well-received. Dubai developers are in a tight competition targeting Expo 2020 and our aim will be to help new supplies in this upward trend field and grow further along with sustainable Dubai market," he added.-TradeArabia News Service