Sunday 29 March 2020

Samana launches $27.2m Dubai Studio City project

DUBAI, February 18, 2020

UAE-based Samana Developers today (February 18) launched the Dh100 million ($27.2 million) Samana Golf Avenue, a 233-unit luxury project located at Dubai Studio City featuring studios, one- and two-bedroom apartments along with plenty of green spaces and water features to create a healthy lifestyle.

Unveiling the project, Samana said it has been distinctly designed with resort-style features, mini-golf, indoor and outdoor gymnasiums, a large swimming pool with a swim-up refreshment area, Jacuzzi, children’s play area and pool.

Samana Golf Avenue features 233 luxury studios, one and two-bedroom apartments come with private pools and a world-class leisure deck featuring golf putting green.
Spread over a 80,000 sq ft area, the premium development houses over 200 covered parking bays. The Ground plus 4 structure has a built-up area of over 508,000 sq ft. The project is scheduled for handover in the third quarter of 2022, it added.

To celebrate the Samana Golf Avenue launch, the Emirati developer has extended an attractive 50% funding facility offer to the buyers, said the statement from the Dubai developer.

Besides the 50% financing offer, Samana is also giving a competitive guarantee of 24% returns at 8% per annum for 3 years, thus making the Golf Avenue an attractive proposition for end-users and investors alike. This comes as part of Samana's rent-to-own approach, it stated.

Under this attractive scheme, buyers will need to pay 10% on booking followed by 1% payment for 80 months, said Samana.

This makes it an excellent option for those looking to move from rental accommodation allowing them to get a foothold on the property ladder, it added.

General Manager Alan James Gammon said: "We have a buyer-focused business model, with a win-win approach. Our 24% guaranteed rental return is hard to compete within Dubai’s real estate market which only a mature and sustainable developer can offer."

"Our sustainable business approach reflects our commitment to our customers and to Dubai’s real estate market in general," he added.

Gammon said it 50% financing was a generous move which reflects Samana's rent-to-own approach for homebuyers.

"Our partnership with the local financial institutions reflects our mandate to create solutions that meet the changing needs of homebuyers in the UAE," he stated.

"Considering the huge interest for the Samana Golf Avenue project in both the local and international markets; we perceive an exceptionally strong demand for high-quality, affordable properties in carefully master-planned, and well located residential communities from homebuyers, ranging from young professionals to larger families," he added.-TradeArabia News Service


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