Samana Developers, based in Dubai, has officially launched the Samana Golf Avenue project at Dubai Studio City. This landmark real estate project will add another new marvel to the skyline of the Emirate and is estimated to cost at least Dh100 million. In a unique move, Samana Developers will be providing 50% financing facilities for buyers at this project. This comes at a time when most UAE (United Arab Emirates) lenders allow just up to 20% for buyers. The company is also providing a 24% return guarantee to investors at the rate of 8% per annum for a period of 3 years.
The Dubai real estate industry has hailed these innovative offers and experts feel that they may set new benchmarks in terms of freebies and other attractions provided by top developers in the future. The payment option stipulates 10% as the booking month followed by a period of 80 months at only 1%. This makes it a really attractive choice for people who are looking to shift to their own housing units from rental accommodation. This innovatively tailored scheme will help several renters enter the Dubai property market for the very first time as opined by industry experts.
Key details that are worth knowing
Samana Golf Avenue, being a premier residential venture, has been specially designed to meet contemporary needs and expectations to the fullest. The project gets resort-esque features galore in addition to outdoor and indoor gymnasium facilities, mini golf facilities, a big swimming pool with a swim-up refreshment zone, a pool for children and playing zone and also ample open and green spaces. There are several water features that will be integrated within the project with an aim towards enabling a healthier and more relaxing lifestyle for residents.
Senior officials at Samana Developers have already stated that the business model of the company remains majorly focused on the customer. The 24% guaranteed rental returns will be hugely attractive and beneficial for customers who will find it hard to get these offers at present in the Dubai realty market. The company also feels that the 50% financing decision is a reflection of its approach of rent-to-own options for customers. The project offers 233 luxury studio units, one and two bedroom apartments and a few apartments with private pools. It will have a top-notch leisure deck with a golf putting green as well. The project covers slightly less than 80,000 sq. ft. and the G+4 structure has 200+ covered parking bays for vehicles. This enables built-up area of more than 508,000 sq. ft. in all.
Some other vital details about the project
The resort-themed project design has already won accolades including the Innovation Design Award courtesy the Design Middle East magazine. Handovers at the project have been scheduled for Q3 2022 as per reports. The company has tied up with local financial institutions for enabling its attractive offers for customers and it is looking at offering new-age solutions that evolve in tandem with transforming needs of UAE home buyers. The company has also confirmed that it has garnered considerable interest from prospective buyers for its Golf Avenue project.
Both domestic and global buyers are looking at investing in the project and there should be considerable demand for similar affordably priced, premium quality and well-positioned real estate properties in future years. Buyers will look for such projects in conveniently located residential communities with proper master-planning and attractive payment plans. The buying audience has also expanded to cover a diverse range of segments ranging from young and working professionals to small families and large families alike. The return of 8% per annum provided by the real estate developer is something that has got most investors interested. This will be provided by the company once the housing unit has been fully paid for. The returns are higher than bank returns, making Samana Golf Avenue a lucrative prospect for several investors.
The company has already conducted road shows in China and has exclusive offers for potential investors from the country. It has kept its offers valid for buyers in spite of the challenging times faced by China at present and hopes to hold further road shows in 2020 with on-ground staff assisting investors with queries regarding Samana Golf Avenue and other projects. The project is located in one of the fastest-growing and well-developed micro markets in Dubai and this should be another major draw for buyers and investors alike. This new development represents another value addition to the Dubai real estate market.