Dubai’s Samana Group launches ‘Samana Holidays’

Dubai’s Samana Group launches ‘Samana Holidays’

Initiative can boost homeowners’ year-on-year returns from 8% to 15%

A view of Samana's Miami project. Samana Holidays will initially target 500 units and convert them into holiday homes. - Supplied photo

Published: Fri 25 Nov 2022, 2:57 PM

Dubai-based Samana Group, the holding company of Samana Developers, on Friday 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 the Fifa World Cup. 500 units of Samana Holidays are expected to generate Dh38 million in revenue over the next seven months.

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 Covid-19 pandemic, being a safe haven and availability of a large number of luxury inventory for tourists.

With the UAE lifting Covid-19 restrictions, there is a surge in the influx of tourists flying into the country which is expected to