Dubai’s Samana says projects in process despite coronavirus

In the wake of a challenging situation caused by the pandemic, Dubai-based Samana Developers said that its on-going projects in Dubai have not been affected by COVID-19 because their properties are distributed among individual buyers rather than bulk investors.

In addition to that, projects are sustainable, energy-efficient and environmentally friendly with low carbon footprint, said the statement from Samana, Trade Arabia reported on Saturday.

On the back of that, the UAE government has allowed construction activities to continue as normal. So, Samana Developers’ projects are in full swing of construction activities, it stated.

The key advantage for Samana buyers is that the projects are self-funded, and do not rely on bank borrowings. The in-house funding boosts buyer-confidence and they are assured that investments are 100 per cent safe and with higher returns, said the developer.

Mortgage complications followed by economic recession makes bank-mortgaged properties vulnerable. That is not the case with Samana Developers, said atop official.

“Our buyers are individuals who earn monthly brackets starting from as low as Dh15,000 and can comfortably spare Dh4000 to Dh6000 monthly installment without delays,” remarked said its CEO Imran Farooq.

“We sat with our customers, brokers and other stakeholders and mitigated the fear related to the current situation. Our close interaction with them has started bearing results and we are regularly receiving monthly installments,” he noted.

“That is further moving the projects for on-time delivery. Therefore, our buyers will be among the first beneficiaries when the pandemic is over in two to three months,” he added.