Dubai-based real estate company SAMANA Developers is targeting a 400 percent growth in sales in 2024, after a strong 2023.
The company saw record-breaking sales four times in the past nine months and a staggering 600 percent surge in sales in 2023, it said.
In 2023, the company recorded a total of 1,630 transactions and a sales value of AED1.59 billion.
“Our unwavering commitment to quality, innovation and timely delivery has propelled SAMANA Developers to the forefront of the UAE real estate market. We are thrilled to witness our continuous growth and are excited about the opportunities that lie ahead,” said Samana Developers CEO Imran Farooq.
“Since 2022, we have seen a remarkable surge in off-plan sales, climbing from the 17th rank to the 7th position among the top developers in the UAE. This achievement is a testament to our dedication to creating exceptional living spaces that meet the evolving needs of our customers,” Farooq added.
Celebrating top performers
The company’s CEO spoke on the sidelines of a grand gala to celebrate the achievements of its top-performing brokers.
Held on October 3 at the Johara Ballroom in Madinat Jumeirah, the event was attended by a diverse group of industry professionals, including real estate agents, investors, and business leaders.
SAMANA Developers honoured 20 agencies for their outstanding performance, dedication, and valuable contributions to the company’s success.
Strong position
With a 4.6 percent market share in Dubai’s real estate market, SAMANA Developers has solidified its position among the top seven largest developers in the city.
Regarded for its resort-style projects and innovative designs, SAMANA Developers offers each unit with a private pool, providing residents with an unparalleled living experience. At the ceremony, Imran Farooq wholeheartedly hailed the new Real Estate Strategy 2033. He expressed his enthusiasm for Dubai’s ambitious goal of increasing real estate transactions to Dh1 trillion by 2030, a significant leap from the Dh634 billion recorded in 2023.
Farooq believes this strategic vision aligns perfectly with SAMANA’s expansion strategy, and it will not only boost the real estate sector’s contribution to the economy, reaching Dh73 billion, but also drive a significant increase in homeownership rates to 33 percent.
Continued expansion
Farooq highlighted that SAMANA Developers now has over 500 employees from 35 different nationalities, and emphasized that his diverse workforce has played a crucial role in the company’s growth and success. He also announced the launch of SAMANA Design Studio, a new service that will offer stylish and modern interior design solutions, raising the mantra “Pioneering Lifestyle”.
Moreover, Farooq also unveiled SAMANA Developers’ new brand identity, reflecting the company’s future vision and aspirations. The new branding, inspired by progressive mindset and forward thinking, symbolizes SAMANA Developers’ commitment to innovation, sustainability, and excellence.
Courtesy of Economy Middle East
