Dubai developer plans $3.4bn building spree this year

Dubai-based Samana Developers today said it will award 18 construction contracts as it spends $3.4bn on new residential projects in its home city this year.

The company will prioritise waterfront projects as it tries to enter the top five fastest-growing developers in the emirate.

“Dubai’s property market presents an exceptional opportunity, and we are well-positioned to capitalise on it,” said chief executive Imran Farooq.

He added: “By introducing high-yield waterfront properties, we’re set to provide investors with a lucrative asset class that offers the best of Dubai’s sun, sand, and sea lifestyle.”

The company said it would partner with leading contractors to ensure quality and timely delivery.

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