‏سبتمبر 2019 الصورة

Samana Developers to deliver AED 100m project in Dubai by Q4-21

Samana Developers, a Dubai-based subsidiary of Samana Group, plans to deliver its second real estate project Samana Hills in Dubai by the fourth quarter of 2021.

The five-storey project will feature 205 residential units comprising studio to two-bedroom apartments at Arjan, near the Miracle Gardens, according to a press release.

It is worth noting that Samana Developers previously launched the AED 100 million freehold property Samana Hills in Dubai.

Prices of the residential units at the project start at AED 399,000 for studios and AED 599,000 for one-bedroom apartments, with a payment plan of 1% per month payment scheme for a 90-month period, following 10% down-payment on purchase.

The development is expected to be completed in two and a half years when the rental income starts to kick in, the release noted.

Located in near proximity to the Miracle Gardens, residents of Samana Hills will have easy access through two major expressways; Al Khail Road and Mohammed Bin Zayed Road, to the major attractions within Dubai.

Bloom Properties on Tuesday announced it has begun the handover residential units at Soho Square on Saadiyat Island in Abu Dhabi to home owners and investors.

Soho Square comprises 304 high-end residences, ranging from studios to three-bedroom apartments, duplex apartments, and a penthouse, according to a press release.

Located in close proximity to New York University Abu Dhabi, the development is inspired by the Soho district in New York City and aims to offer residents a trendy lifestyle.

Soho Square, the second development by Bloom Properties on Saadiyat Island, will feature a number of restaurants and retail outlets, as well as excellent community facilities such as a swimming pool, a children’s play area, a medical clinic, and a modern fitness center.

Jeremy Lester, acting CEO of Bloom Holding, said: “The handover of Soho Square demonstrates our commitment to delivering high quality residential communities in desirable locations. We have witnessed a high demand for quality urban housing with high-end amenities, and this mixed-use project caters to both home owners and investors due to its prime location and attractive rental yields.”

Moreover, Bloom Properties has recently commenced the delivery of 207 units at the highly sought-after Park View development.

UAE – Mubasher: Sobha Realty, a premium real estate developer based in Dubai, intends to file for an initial public offering (IPO) in 2022, the Banker Middle East reported.

The company will wait to meet expected profitability before making a final decision on the IPO, the founder of Sobha P.N.C. Menon said.

Menon also added that the company has not make a final on where to list the shares.

Sobha is expected to generate around AED 2 billion ($545 million) in sales revenue this year, compared to AED 620 million in 2018 as it delivered more homes in its Sobha Hartland development.

The property developer will hand over nearly 6,000 homes at the $4 billion project over the coming six years, Menon revealed.

UAE- Mubasher: Azizi Developments, a leading private developer in the UAE, announced the completion of 92% of the construction work at Farishta, its new residential tower in Al Furjan.

Farishta comprises 284 high-end residences featuring a mix of 137 studios, 124 one-bedroom, 15 two-bedroom apartments, and eight spacious penthouses, according to a press release.

The construction work of the project is on-schedule for delivery set in the fourth quarter of 2019, Azizi Developments said.

Farhad Azizi, CEO of Azizi Developments, said: “It fills us with pride to know that we will soon be delivering another remarkable project in Al Furjan, a promising area that is very dear to us. With the strong customer response that this development has received, delivering the 284 units on time remains a top priority to us.”

The external works of Farishta have been completed by over 70% to date, with nearly 100% of the structure and 99% of the blockwork done.

Tiling works and the heating, ventilation, and air conditioning (HVAC) have been completed at around 99% and 92%, respectively.

Meanwhile, the work progress at the second fix of mechanical, electrical, and plumbing (MEP) works are at 95%, the façade works are at 92%, and overall finishing at 89%.

Dubai – Mubasher: Emaar Properties, a global property developer based in Dubai, on Wednesday announced it has launched Ease by Emaar, a short-term rental concept that enables travellers to stay stays in upscale homes selected by Emaar in their integrated communities.

The leading property developer also unveiled South Beach, a premium residential beachfront development in Emaar Beachfront, which will be the first waterfront development to be listed on Ease by Emaar, according to a press release.

South Beach comprises one-, two-, and three-bedroom apartments with elegant furnishings, the company added.

Under Ease by Emaar, guests can enjoy a number of offers and deals to the city’s major attractions through Ease Pass, as well as U by Emaar which provides special upgrades, discounts on Emaar hospitality restaurants, and deals to Emaar entertainment attractions.

Residents of South Beach can also enjoy amenities such as a swimming pool, fitness centre and an extensive choice of play areas for children.

Investors in South Beach will have the option to allow Ease by Emaar to manage their property at no additional cost for the first three years post-completion, according to the release.

UAE – Mubasher: Azizi Developments, a leading private developer in the UAE, announced it has recorded major construction turning points during the third quarter of 2019.

The company has cast over 117 slabs since the beginning of this year and poured more than 165,000 tonnes of concrete, according to a press release,

Moreover, over 45 cranes erected in 2019, and over 1.3 million square feet were constructed with monthly average building progress of around 5% and over 5.9 million recorded man-hours, Azizi Developments said.

The construction works at the company’s ongoing projects Meydan, Al Furjan, Downtown Jebel Ali, Palm Jumeirah, and Dubai Healthcare City are progressing rapidly.

Azizi Developments’ entire projects are situated in promising sought-after locations based on a location pricing strategy.

Farhad Azizi, CEO of Azizi Developments, said: “With our core pillars of customer centricity and transparency, it is of the utmost importance to us to ensure that our customers are kept up-to-date on the progress of their homes. We have marked 2019 as our ‘Year of Construction’, with an emphasis on quality development and timely completion - a promise that we are well on track to deliver on”.

The company plans to meet the growing demand for properties in Dubai as reports showed that over 25 million visitors to the emirate are likely to catalyse the real estate growth in the build-up to Expo 2020.

Construction works at Al Furjan projects, Star, Shaista, and Samia are 70%, 72%, and 89% complete, respectively.

Moreover, construction at Farishta, Plaza, Aura in Jebel Ali have been completed at 92%, 88%, and 60%, respectively.

Meanwhile, Mina has been almost 68% done, and Aliyah in Dubai Healthcare City has been completed earlier this year.

Construction works at Riviera is on track, with phase one standing at 53% complete, and phase two and three having marked 35% and 22%, respectively.