Samana Launches AED 4 Billion Project on The World Islands Under 'Collecta' Brand
Samana revealed a new project on The World Islands in Dubai under the 'Samana Collecta' brand, with a development value exceeding AED 4 billion and 840 hotel-branded residential units.
Samana Developers announced a new residential project on 'The World Islands' in Dubai with a total development value exceeding AED 4 billion (approximately $1.09 billion), launching under a new brand named 'Samana Collecta', according to reports by 'Zawya'.
The project comprises 840 hotel-branded residential units, alongside seven floating villas and two tree-shaped villas, in a design that blends overwater living with green spaces.
CEO Imran Farooq stated that the new brand represents the company's entry into the luxury market segment, following years of focusing on mid-market residential units.
The company aims to deliver the project within four years from the start of construction, adding new luxury supply to Dubai's real estate market that caters to residents and investors seeking unique properties.
What Do These Terms Mean?
Branded Residential Units: Residences affiliated with a hotel brand that manages their operations and services, enhancing their value and offering an experience similar to a permanent hotel stay.
Floating Villas: Residential units built on water or over a floating platform, combining the features of a villa with waterfront living.
Total Development Value: The estimated value of everything to be built and sold within the project upon completion, including units and facilities.
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