Samana Developers has launched its US $68.1mn ‘Samana Portofino’ residential project in Dubai Production City. The project is the developer’s ninth project launch out of the 12 projects it has planned for 2023.
The B+G+11-storey project will feature 226 apartments, and will epitomise ‘commune-style’ Italian architecture, which blends water features, a town centre, and pedestrian-focused, luxurious living. Every unit in ‘Portofino’ will feature a built-in private pool, the developer said.
Imran Farooq, Chief Executive Officer, Samana Developers said, “Samana Developers is moving forward with the right speed of developments and in the right areas across Dubai. I thank our investors for their trust in Samana projects, which yield better returns for them as compared to current market rates. That is one reason that our projects sell quickly and we move on to the new launch.”
“In return for this trust, Samana is committed to new offerings, such as helping investors to sublet apartments to tourists and visitors to Dubai, which adds more returns on their investments. For this, we launched Samana Holidays to help units convert to holiday homes. In addition, Samana property assets guarantee competitive 24% returns,” he stated.
The Dubai Production City free zone (formerly known as The International Media Production Zone) is master-developed by Tecom Group, and is a mix of residential freehold and commercial areas. The residential freehold offers 100% foreign ownership.
