Imran Farooq, CEO of Samana Developers, has shared insights into Dubai’s booming real estate market, highlighting the city’s ability to attract global wealth amid geopolitical instability. In an exclusive interview, Farooq explained why Dubai continues to be a top destination for high-net-worth individuals, especially as other countries, such as the UK and France, impose restrictive tax policies that push wealthy citizens toward the emirate.
Farooq emphasized that Dubai’s appeal goes beyond the wealthy elite, with a growing influx of people from various nationalities seeking refuge in the city. He pointed to Dubai’s quick response to the pandemic with initiatives like the remote work visa and the golden visa, which have made it an increasingly attractive location for expatriates.
According to Farooq, Samana Developers is witnessing extraordinary demand for off-plan properties, with sales typically exceeding 85% within 48 hours of a launch. Despite concerns over a potential supply glut, Farooq remains confident in the market’s long-term growth, citing strong population growth and an ongoing shortage of available properties. Samana's expansion into new sectors, including commercial office spaces and hospitality, further supports the company’s vision of becoming a multifaceted real estate player.
In line with this growth, Samana Developers has made significant investments in its operations, including a Dhs150 million commitment to set up its own in-house contracting company to maintain quality control and ensure timely project delivery. The company’s latest international venture includes a luxury development in the Maldives, where buyers can enjoy self-sustaining villas under a 99-year leasehold.
Farooq also revealed plans for Samana’s first master-planned community, a move set to diversify the company’s portfolio and solidify its position in the competitive Dubai market.
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