Dubai developer Samana Developers has become one of the few in Dubai who decided to launch a new real estate project in 2020. The builder’s confidence in demand is supported by its unprecedentedly generous incentives for end buyers and investors in a AED100 million Golf Avenue project.
Golf Avenue is located in the Dubai Studio City area and features resort-style décor. This is the first real estate project in the UAE that allows buyers to take advantage of the exclusive 50% financing offer, while other lenders in the UAE offer a maximum of 20% financing.
The project was developed in a resort style, so there are amenities such as a mini-golf course, indoor and outdoor gyms, a large pool with a recreation area, a jacuzzi, a children's playground and an additional pool with many green spaces and water attractions. The resort's design even received the Innovation Design Award from Design Middle East Magazine for its unrivaled features.
In addition to 50% financing, the developer also secured a competitive advantage through the 24% guaranteed rental income offer for 3 years, which is 8% per annum. This makes Samana Golf Avenue an attractive offer for end users and investors, as well as for tenants willing to enter into rent-to-own scheme. With the option of paying 10% upon booking, and then only 1% per month during 80 months, this is an excellent offer for those, who want to move from rented accommodation to their own, but could not afford it before.
Alan James Gammon, CEO of Samana Developers, said: “Our business model is customer oriented, and this is a win-win approach. It is difficult to compete with a 24% guaranteed rental income offer in the Dubai real estate market, only a mature and stable developer can do this.”
“50% financing is a truly generous offer from Samana Developers, which embodies a rent-to-own scheme for home buyers. Our partnership with local financial institutions has allowed us to find solutions that meet the changing needs of real estate buyers in the UAE. Given the huge interest in the Samana Golf Avenue project both form the local and international markets, we look forward to the extremely high demand from young professionals to large families for high-quality, affordable properties in our carefully planned and conveniently located residential projects,” - Gammon added.
Investors are also particularly interested in the 8% guaranteed net annual return, which is provided by the developer only after the housing is fully paid off. Higher profitability makes the Samana Golf Avenue project a very advantageous offer for investors in a very popular place of Dubai.
Samana Golf Avenue will have 233 luxury studios, as well as one and two bedroom apartments, some of which have private pools and world-class mini-golf courses.
The residential part of the Samana Golf Avenue project has a built-up area slightly less than 7,500 square feet, in addition to which there are four more Ground plus buildings with 200 indoor parking lots, which in total makes it more than 508,000 square-feet of the build-up area. The project is scheduled for completion in the third quarter of 2022.
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