Bullish on Dubai realty: Samana to launch 2 five-star hotels; enter residential super-luxury segment in H2 2023

Bullish on Dubai realty: Samana to launch 2 five-star hotels; enter residential super-luxury segment in H2 2023

Dubai-based Samana Developers will foray into the luxury hospitality segment by launching two 5-star hotels in the emirate this year, CEO Imran Farooq told Zawya Projects.

The developer maintains a bullish outlook on Dubai’s real estate market as it announced plans to launch 12 new projects worth 2.5 billion UAE dirhams ($680 million) in 2023.

“The locations for projects have been identified and plots secured,” Farooqsaid, adding that 20 percent of the new projects are planned to in the hospitality segment while 80 percent will target the residential market.