Latest news with #SamanaDevelopers
Arabian Business
27-05-2025
- Business
- Arabian Business
New Dubai partnership aims to increase women's role in real estate careers
Samana Developers announced a new strategic partnership with Dubai Land Department (DLD) to foster a more inclusive and equitable real estate sector, specifically by promoting greater women's leadership and participation in the sector. The initiative – titled 'She Pioneers' – is aimed at establishing a strong and influential female presence across every stage of the real estate value chain, the company said. The initiative aims to transform women into confident investors, key decision-makers, and dynamic industry professionals, it said. As part of the initiative, Samana Developers will launch a series of impactful programmes, including mentorship schemes pairing seasoned industry leaders with aspiring female professionals, dedicated networking events to foster community and collaboration, specialised training courses for female real estate agents, and tailored investment packages designed to support women entrepreneurs on their property ownership journey. Majida Ali Rashid, CEO of the Real Estate Development Sector at Dubai Land Department, said the department's strategic collaboration with Samana Developers is deeply valued as it places women's encouragement at the heart of its mission. 'This initiative aligns seamlessly with our broader vision to foster a supportive ecosystem in which women can thrive and actively contribute to the growth of the real estate sector – an essential pillar of Dubai's economy,' Ali Rashid said. View this post on Instagram A post shared by SAMANA Developers (@ Urusa Imran, Director of Business Development at Samana Developers, said the initiative is in line with the company's belief that enabling women is essential to the advancement of any modern society. 'This partnership with Dubai Land Department is a significant step forward in translating that belief into measurable impact,' she said. The Samana Developers' senior executive also pointed out that women currently make up 48 per cent of the company's workforce. The company said the partnership marks more than a milestone, as it sets the foundation for long-term impact and inclusive growth within Dubai's real estate sector.
Khaleej Times
27-05-2025
- Business
- Khaleej Times
Samana Developers partners with DLD to elevate the role of women in real estate
Samana Developers has announce a new strategic partnership with Dubai Land Department (DLD). This collaboration represents a meaningful step in advancing Samana Developers' commitment to fostering a more inclusive and equitable real estate sector, specifically by promoting greater women's leadership and participation within Dubai's dynamic and rapidly evolving property market. The 'She Pioneers' initiative is founded on a shared commitment to enabling Emirati and resident women, with the goal of establishing a strong and influential female presence across every stage of the real estate value chain. The initiative aims to transform women into confident investors, key decision-makers, and dynamic industry professionals. It aligns with Dubai's progressive development agenda, which prioritises the advancement of female talent and promotes gender equality across all vital sectors. As part of the initiative, Samana Developers will launch a series of impactful programmes, including mentorship schemes pairing seasoned industry leaders with aspiring female professionals, dedicated networking events to foster community and collaboration, specialised training courses for female real estate agents, and tailored investment packages designed to support women entrepreneurs on their property ownership journey. Majida Ali Rashid, CEO of the Real Estate Development Sector at Dubai Land Department, expressed her appreciation for the partnership: "Our strategic collaboration with Samana Developers is deeply valued, as it places women's encouragement at the heart of its mission. This initiative aligns seamlessly with our broader vision to foster a supportive ecosystem in which women can thrive and actively contribute to the growth of the real estate sector - an essential pillar of Dubai's economy. Ultimately, it reflects the emirate's visionary leadership in championing gender parity and unlocking the full potential of female talent across all sectors." Urusa Imran, director of Business Development at Samana Developers, highlighted the driving philosophy behind the initiative: 'At Samana Developers, where women currently make up 48 per cent of our workforce, we believe that enabling women is essential to the advancement of any modern society. This partnership with Dubai Land Department is a significant step forward in translating that belief into measurable impact. We are confident in the power of women to lead transformative change and play a pivotal role in shaping the future of real estate in Dubai.' This partnership between Samana Developers and Dubai Land Department marks more than a milestone - it sets the foundation for long-term impact and inclusive growth within Dubai's real estate sector. By aligning strategic goals and resources, both organisations are driving meaningful change and reinforcing Dubai's position as a global leader in progressive, people-centric urban development. As the She Pioneers initiative gains momentum, it promises to open new doors for women across the industry, enabling them to invest, lead, and innovate.
Entrepreneur
26-05-2025
- Business
- Entrepreneur
Samana Developers Partners With Dubai Land Department to Enable Greater Gender Inclusivity in Dubai's Real Estate Market
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. SAMANA Developers, a UAE-based real estate developer, has entered into a strategic partnership with Dubai Land Department (DLD) to further its commitment towards creating a more inclusive and gender equitable real estate sector—specifically by promoting greater women's leadership and participation within Dubai's booming property market. The partnership aligns with DLD's She Pioneers initiative, which aims to celebrate and recognize the key role women play in driving sustainable growth in the real estate market while simultaneously increasing female investment. With the goal of establishing a strong and influential female presence across every stage of the real estate value chain, the initiative also seeks to transform women into confident investors, key decision-makers, and dynamic industry professionals. This, in turn, aligns with Dubai's progressive development agenda, which prioritises the advancement of female talent and promotes gender equality across all vital sectors. As part of this new partnership with DLD, Samana Developers will launch a series of impactful programs, including mentorship schemes pairing seasoned industry leaders with aspiring female professionals, dedicated networking events to foster community and collaboration, specialized training courses for female real estate agents, and tailored investment packages designed to support women entrepreneurs on their property ownership journey. "Our strategic collaboration with Samana Developers is deeply valued, as it places women's encouragement at the heart of its mission," noted Majida Ali Rashid, CEO of the Real Estate Development Sector at DLD. "This initiative aligns seamlessly with our broader vision to foster a supportive ecosystem in which women can thrive and actively contribute to the growth of the real estate sector—an essential pillar of Dubai's economy. Ultimately, it reflects the emirate's visionary leadership in championing gender parity and unlocking the full potential of female talent across all sectors." Urusa Imran, Director of Business Development at Samana Developers, highlighted the driving philosophy behind the initiative: "At Samana Developers, where women currently make up 48% of our workforce, we believe that enabling women is essential to the advancement of any modern society. This partnership with Dubai Land Department is a significant step forward in translating that belief into measurable impact. We are confident in the power of women to lead transformative change and play a pivotal role in shaping the future of real estate in Dubai." By aligning strategic goals and resources, both organisations thus hope to drive meaningful change and reinforce Dubai's position as a global leader in progressive, people-centric urban development. Related: Samana Developers Founder Imran Farooq Opens Up on His Long and Winding Road to Success
Gulf Business
05-05-2025
- Business
- Gulf Business
Samana CEO on off-plan frenzy, Dubai's boom, and building an empire
Imran Farooq, the CEO of Samana Developers Imran Farooq is no stranger to Dubai's fast-moving real estate game. As CEO of Samana Developers, he has steered the company into the top tier of the emirate's fiercely competitive off-plan market — so much so that its recent billboard campaign proudly touts its place as the '7th largest developer' in Dubai, a rare show of confidence in a city where everyone claims to be number one. Under Farooq's leadership, Samana has posted extraordinary annual growth of 229 per cent over the past five years, launching projects across residential, retail, office and even hospitality. The company has also expanded internationally, with a headline-grabbing development in the Maldives offering five-star resort villas under a 99-year leasehold. In this candid interview, Farooq explains why Dubai continues to attract global wealth amid geopolitical instability, why the off-plan market is still red hot, and why demand for Grade A office space is soaring. He also reveals Samana's next major play — a master-planned community — and why controlling the entire construction supply chain is now essential. Farooq further lifts the lid on the thinking behind that '7th largest' billboard, the firm's growing appeal to international investors, and how Samana is preparing for a world where real estate demand in Dubai only continues to rise. How do you see the state of the Dubai real estate market today? Some earlier reports suggested stabilisation, but recent data from the likes of Property Finder and Bayut show continued strong momentum. What's your take? I think things are going great guns: there's zero doubt about that. Overall, Dubai is becoming more and more popular. Look at what's happening in the West, particularly the UK. The government there seems to be driving wealthy individuals away with harsh tax policies. As a result, the UK is losing the most millionaires and billionaires, and Dubai is the biggest beneficiary. I believe 63 or 64 per cent of Brits relocating are coming to Dubai, making it the number one destination globally for high-net-worth individuals. A few years ago, France had similar discussions in its parliament about global taxation. That pushed more people out. And now, with new disturbances in the US, I suspect we'll see even more capital flow towards Dubai. On top of that, geopolitical instability across the Arab world is also driving people here. It's not any one sector driving the demand — it's everything. The pandemic was a huge catalyst. Dubai responded quickly with the remote work visa, followed by the golden visa. The price threshold for the golden visa has also come down — from Dhs10m to Dhs2m — and you can now qualify with just 20 per cent down on an off-plan property. That's a huge pull factor. People often ask if Dubai is only for the rich. I don't think so. Dubai is attracting people across the board, including the workforce. Even conflicts like the Russia-Ukraine war brought both Ukrainians and Russians here, many felt mistreated in the West and sought refuge. Dubai is now seen as a global safe haven: not just for one nationality or group, but for people from all over the world. Who are the biggest buyers in the off-plan segment today? Everyone. We promote Samana projects in more than 55 countries, and we've done very well globally. Around 70 per cent of our sales come from about 20 countries. At each launch, the dominant nationality changes — it could be Indians, French, or Emiratis — it really depends on who gets access first. For example, 85 per cent of our stock typically sells out within 48 hours of launch. That tells you demand is far outpacing supply. So it's not about who's buying the most; it's about who gets there first. And this is all off-plan? Yes, entirely. That's our expertise. From a cash flow point of view, we're very comfortable. Within a year, we usually collect 40 to 45 per cent of the sale value. That gives us the capital to focus entirely on project delivery. Are prices continuing to rise then, from what you're seeing? Yes. There's a common belief that enough property is being launched, but I disagree. Population is growing at 12–13 per cent annually, and even if every project is delivered on time, there would still be a shortage. We'd see rental prices coming down if there were enough supply, but that's not happening. Rents are still rising across the board. Some landlords may be asking for a 15 per cent hike instead of 30 per cent, but the overall trend is upward. Streets are busy, offices are full, and even basement parking is packed. Our own data and conversations with DEWA confirm demand for electricity and water is up 13 per cent. We're also seeing more premium buyers. Transactions worth Dhs200m and above were unheard of before. Now they happen regularly in Emirates Hills, Dubai Hills, Palm Jumeirah. When buyers like that come in, they also demand high-end rental properties, supercars, and more. The economic wheel is spinning fast. Many residents in Dubai have seen your billboard on the highway saying that Samana is the '7th Largest Developer.' That really stands out. Most companies would say they're number one. Why highlight number seven? Good question. The ranking comes from official Land Department data, which is collated in real-time by Property Monitor. Based on the number of units sold, we're ranked 7th and hold a 4.4 per cent market share, which is huge when you consider how competitive the market is. The top developers — Emaar, Nakheel, Meraas — are backed by Sheikh Mohammed and hold vast desert land. So we take pride in being independent and still ranked so highly. Out of 1,200–1,300 developers in Dubai, just 13–14 control 91 per cent of the market. That makes our share even more meaningful. This year, we expect to be 6th, and as of now we're actually 5th. But we're comfortable sitting in the 6–7 range. We're not aiming to be number one: that's a different playing field. That growth must have required some serious momentum in terms of your sales? Absolutely. Over the last five years, we've grown at a compound annual rate of 229 per cent. This year, we're expanding beyond residential. We've launched our first commercial office tower — Samana Barari Avenue — and will also launch a hotel and several retail projects. Our mission, announced last October, is to operate across all real estate verticals: offices, hotels, retail, warehouses, labour accommodations: you name it. Why the shift into office space? Office space has been the best-performing asset in the past 12 months. Rents have more than doubled. In Bay Square, for instance, our rents have tripled since 2020. No one was building office towers post-2008, so supply dried up. There's strong demand for Grade A+ office space with resort-style amenities with swimming pools, gyms, retail, cafes and more. Our Barari Avenue project offers all of that. You've also gone international with a project in the Maldives? Yes. Our first Maldives project is a partnership with Elie Saab. The entire island is managed by Samana: it's fully self-sustaining, with its own electricity, water, sewage, hospital, mosque, and even fire brigade. Buyers can rent their villa for up to $2,000 per night, five-star level, white-labelled, professionally managed. We also offer flexibility: keep it for personal use, rent it out via a hotel pool, or manage it directly. We provide an app where you can switch modes with a click. Ownership is under a 99-year lease, which is essentially freehold. We currently own three islands. The Maldives government is also in the final stages of introducing a golden visa programme for investments from $500,000 upwards, which will certainly help attract more buyers. What else should we keep an eye on in the property market right now? One important thing during this boom is that selling is easy, but building will become harder. So we've invested Dhs150m in setting up our own in-house contracting company. This gives us control over quality, consistency, and delivery speed. We're no longer reliant on third-party contractors and can build to our own standards. It's part of our strategy to own the entire value chain. By the end of the year, we'll also announce our own master community. I can't reveal the location yet, but it's part of our diversification strategy — end-to-end development. Incredible. Thanks for your time, Imran. My pleasure.
Arabian Business
11-03-2025
- Business
- Arabian Business
EXCLUSIVE: UAE developers pour billions into Maldives as luxury island market heats up
United Arab Emirates developers are investing more than $3 billion in Maldivian luxury real estate projects through 2030, according to investors and industry insiders familiar with the market. This $3 billion pipeline is set to transform the island nation from a tourism-only destination into a second-home market for the ultra-wealthy with returns of up to 20 per cent, experts told Arabian Business. 'I can tell you over $3 billion in the pipeline,' said Mohamed Ali Janah, Chairman of Hotels & Resort Construction and one of the Maldives' biggest investors, in an exclusive interview. 'UAE will be holding the largest portfolio in the next five years.' This rapidly growing investment corridor between the UAE and Maldives comes as the Indian Ocean archipelago introduces new ownership laws and infrastructure upgrades, creating unprecedented opportunities for property developers already experienced in building high-end destinations. From honeymoon resorts to residences For decades, the Maldives has been synonymous with honeymooners and luxury travellers seeking pristine beaches and turquoise waters. The typical visitor would spend thousands per night at a resort, but ownership was restricted to major hospitality companies willing to lease and develop entire islands. That model is rapidly changing following legislative reforms implemented two years ago that introduced sectional ownership, allowing developers to sell individual villas and units to private buyers rather than operating entire resorts. 'Maldives is now transitioning from luxury resorts to luxury real estate,' explained Janah. 'For the past couple of years, you could have been hearing that villas are on sale in the Maldives. It took baby steps to introduce Maldives as a real estate destination for luxury villas.' The shift has caught the attention of major international property brokerages, Janah said, adding that developers are 'not only building luxury villas for sale, we are also building private islands for sale. This is the next big thing that is going to happen.' Dubai developers lead the charge At the forefront of this real estate revolution are UAE-based developers who see the Maldives as a natural extension of their luxury property portfolios. Samana Developers recently announced a joint venture with fashion house Elie Saab for a luxury development targeting completion by 2029. Prices for overnight stays in the property are expected to range from $1,000 to $8,000, while owners would enjoy all-inclusive packages built into their service charges. View this post on Instagram A post shared by SAMANA Developers (@ 'Dubai is doing extremely well for us, and we believe that the Maldives is our natural upgrade to the ultra-rich segment,' said Imran Farooq, CEO of Samana Developers. 'What better way than to offer a second holiday home, and that too, in Maldives? We are giving an opportunity to our investors to buy a piece of paradise.' For Elie Saab Jr., who oversees the brand's real estate ventures, the Maldives represents a logical expansion after successful projects across the Middle East. 'Maldives is one of the most spectacular places in the world and the most sought after to any traveller that seeks to have a piece of paradise,' he said. FAM Holding PSC Group is also developing the Al Mahra Maldives Resort, spanning 100,000 square metres with 150 villas, including 100 overwater villas, 40 beach villas, and 10 VIP villas. Construction was reportedly set to start in mid-2023, with completion expected by mid-2025. Several other UAE-backed projects are slated to open soon, including Centara Grand Lagoon Maldives in North Malé Atoll, Corinthia Maldives in North Malé Atoll, and Mandarin Oriental Bolidhuffaru Reef in South Malé Atoll. The new island economy While the ultra-luxury segment dominates headlines, the investment spectrum is broader than many realise. A source familiar with the market said there are discussions about creating exclusive membership-based destinations on private islands. Arabian Business has learned of (but has not been able to verify) plans for a private members' club targeting the top 1 per cent of global entrepreneurs, offering them a secluded networking environment away from the public eye. Entry prices for island acquisition can be surprisingly accessible. 'In terms of entry-level, we could get you an island for like $5 million,' said Ainsley Duncombe, Founder of Off Market Listing Dubai, though he cautioned that infrastructure development costs would add substantially to that figure. The process for acquiring islands follows a structured government process. 'The Ministry of Tourism is the one-stop shop for island leases,' explained Janah. 'Maldives doesn't have freehold. All these [projects] are leasehold. You get the islands for a 50-year lease at the first instance, and then you can buy another 49 years, so you can go up to 99 years.' The government sets acquisition costs based on location, island size, and regional band pricing. 'When you approach the government, they have certain regulations with bands for acquisition costs in different parts of the country,' Janah explained. 'This is divided into 20 atolls, administrative regions. You can apply to the government and they will tell you the acquisition cost and fees based on the area of the island.' Why now? The timing of this investment surge can be traced to several converging factors. The COVID-19 pandemic proved pivotal for the Maldives property market. When most of the world shut down, the Maldives and Dubai remained accessible to travellers, creating significant goodwill and business confidence. 'We managed our country during COVID very well. I think Dubai and Maldives were the only two places that were open,' said Janah. 'This gave the confidence to investors that Maldives will bounce back, or Maldives would manage the country very well, no matter the crisis.' Farooq pointed to the role of social media. 'The pandemic is where people had time. They were at home, and all these celebrities started posting their pictures in the water villas, and that drew up the excitement. So that trend of celebrities going and posting in the Maldives caught like fire in 2020, and all of a sudden, you see the numbers in tourism have jumped 400 per cent in the last four years.' A key development facilitating this growth is the expansion of Velana International Airport, supported by the Abu Dhabi Fund for Development with a reported $80 million investment. The expansion is expected to increase tourist capacity from 2.4 million to 4 million annually when completed, likely at some point this year. 'The current President is working on getting this airport open in October this year,' Janah notes. 'So he is doing a lot of work effort to get projects completed and operational within the year.' The Maldives' 'open sky policy' has also contributed to the island nation's accessibility. 'As an airline, you don't have a bureaucratic process,' explained Farooq. 'You just decide and send them an email that from this time I will be having this capacity. Can you make logistical arrangements? Not approve, but make the logistic arrangement, and you just pay your landing fee.' Climate concerns and engineering solutions Despite international concern about rising sea levels threatening the low-lying archipelago, developers remain confident in the Maldives' long-term viability, citing advanced Dutch engineering solutions similar to those used in Dubai's Palm Jumeirah. 'Pessimistic scenarios expect a sea level rise of around one metre by the year 2100, while reclamation work in the Maldives assumes 2 to 2.5 metre elevation over current sea levels,' explained Duncombe. 'Reclamation work is typically done by Dutch companies, which have access to the most advanced technologies in the field globally.' Farooq added that marine engineering work is a standard part of development costs. 'The first thing is before we can move a break, we need to make the wave current become friendly. That's a 120-day exercise, costs a big bill, but once that is done, the maintenance will be after 10-15 years.' Janah expressed confidence in the country's environmental management. 'The authorities are extremely strong. They are the people who have supported all the expansions and the marine engineering. The Maldives, Amsterdam, these are the two countries way ahead of the curve when it comes to expanding your islands or stabilising the water current.' The Maldives is also prioritising sustainability, with a national target to become carbon neutral by 2030, according to Duncombe. Additional environmental protection measures include decentralised waste management, modular housing, and floating infrastructure. The growing UAE-Maldives corridor The growing commercial relationship extends beyond real estate into broader economic ties, with the UAE becoming the 'single largest source market for export to the Maldives by volume,' according to trade statistics. The relationship has deepened politically as well. The UAE established its embassy in the Maldives in 2019, while the Maldives has had an ambassador to the UAE since 2012. 'The Maldives and UAE have been connected since a very long time,' said Janah, who began travelling to the UAE in the late 1990s. 'I have seen the growth of the relationship over the years, and now it's actually at its highest level.' The close proximity — less than four hours by air — makes the Maldives particularly attractive to UAE investors and tourists alike. 'As UAE gets busier, people are looking to places they can go to relax and chill out away from the hustle and bustle of the big city,' said Duncombe. Janah describes the relationship as a 'win-win for both countries,' adding that 'it's very easy to make deals, it's very easy to access the funds from Dubai. It's an extension of their business, and it is also a very attractive business for them.' Looking ahead, industry leaders expect the UAE-Maldives investment corridor to accelerate dramatically. 'I think the growth level that you will see between these two countries in the next two years would be unimaginable,' predicted Janah, hinting at deals currently under negotiation. 'It will come from Abu Dhabi. It will come from Dubai, from Doha, everywhere.' With tourism remaining the cornerstone of the Maldivian economy, contributing about 28 per cent of GDP, the pivot to real estate ownership represents a natural evolution rather than a departure. But with UAE developers in the driver's seat, the transformation is accelerating rapidly. 'I think as we see more and more ultra-wealthy and high net-worth individuals make the UAE their permanent residence, we're also going to be seeing more people going to the Maldives and having that as a secondary or additional residence,' said Duncombe. For those seeking to buy into the Maldivian dream, returns are reported to be exceptionally strong. 'The ROI is one of the best in the world. So you're looking at 15 to 20 per cent return on your investments,' said Janah.
