Dubai’s Samana Group launches ‘Samana Holidays’, boosting homeowners’ YoY returns from 8% to 15%

Dubai’s Samana Group launches ‘Samana Holidays’, boosting homeowners’ YoY returns from 8% to 15%

News Highlights

1. New Entity is the first step towards entering Dubai’s hospitality business.

2. The company plans to bring a series of 5-star hotel projects by Q3 2023 – Imran Farooq, CEO said

3. Samana Holidays will initially target 500 units and convert them into holiday homes.

4. The converted units are expected to generate Dh38 million in revenue in seven months.

(DUBAI): Dubai-based Samana Group, the holding company of Samana Developers, today launched ‘Samana Holidays’, a new entity which will allow homeowners and end-users of its real estate entity, Samana Developers, to rent apartments on a short-term basis, boosting investor returns.

Samana Holidays will initially target 500 units and convert them into holiday homes (serviced apartments) for short-term rentals to allow tourists, visitors, holiday-makers and layovers for fans of FIFA World Cup. Five hundred (500) units of Samana Holidays are expected to generate Dh38 million in revenue over the next seven months - by Q2 2023. It is therefore a new benefit to Samana Developers’ buyers and end-users.

The rise in the holiday-home market in Dubai is factored around the investment season which includes: the November-April peak tourist season, long-term visas, Dubai being the favourite trading hub for international businesses, UAE’s excellent handling of the