Samana Developers sees double revenue growth
Dubai-based Samana Developers has reported a total revenue increase of 65% since Q2 2020.
For the ninth consecutive month – April to December 2020 – the developer has seen a growth in revenue generated month-on-month despite roadblocks raised by the pandemic.
The company has also increased its headcount by 55% and has doubled the sales revenue target for 2021. In addition, the ongoing COVID-19 vaccine drive by the UAE and Expo 2020 in October this year are predicting a positive outlook for 2021 which will lead growth across sectors.
At the back of record highest sales revenues in 2020 and positive outlook for 2021, Samana Developers has plans to launch three new residential projects in Dubai.
Samana Developers sold out its Dhs185 million Greens and Hills projects in 2020. It managed to fast-track the builds by introducing changes in its construction methods for 327 units. This new construction management strategy helped complete the projects ahead of time.
Earlier in 2020, the superstructure of Dhs110 million Samana Hills residential project was completed ahead of schedule. Located at Arjan Dubailand, the resort-themed Samana Hills spreads over 100,000 sqft and houses 205 units, including studios, one- and two-bedroom apartments. The ground was broken in September 2019, and is scheduled for handover in Q3 2021.
The construction of Dhs75 million Samana Greens too also been completed and sold out. The delivery of this project is expected this month as the project is on the final stages of getting the Building Completion Certificate (BCC) from the Dubai Land Department.
The Dhs100 million Samana Golf Avenue project at Dubai Studio City has been fast-tracked, sold out by 85% and will be ready for handover in Q1 2023.