Following the 100% sold-out Mykonos project, Samana Developers today launched the Dhs300 million ($81.74 million) Samana Mykonos Signature, a mid-luxury residential development in Dubai's newly developed Arjan neighbourhood.
Samana Mykonos Signature is the third of 12 projects planned for launch in 2023.
Set against the backdrop of a growing influx of European tourists, the new project's design and name are inspired by the iconic island of Mykonos, a famous Greek tourist destination with a colourful nightlife. Samana Developers is known for introducing new concepts in Dubai real estate in line with contemporary trends." Samana Mykonos Signature is one such property that has introduced the concept of a holiday to the residential sector in Dubai. Visitors to Dubai will find it an affordable option compared to staying in expensive hotels. 24 retail units will cater to the needs of residents.
Dubai was named the world's top destination in Tripadvisor's Travellers' Choice 'Best of the Best' awards for 2023, ahead of other popular destinations, including London, Bali and Paris.
The latest statistics show that 14.36 million visitors and tourists visited Dubai in 2022, representing a visitor growth of 7.06 million. The total number of visitors in January 2023 alone was 1.47 million, according to the Dubai Tourism Statistics Authority.
"We believe that today's buyers are smart and have a huge range of options to choose from. That's why we've brought something new, sustainable and environmentally friendly yet affordable. That's what makes our Samanamikonos project unique and it sold out very quickly. I thank those buyers who trusted us, the network of brokers and the Samana team for their tireless work. Now we are replicating, to be precise, launching an enhanced version of our Mykonos project, which we have named Samanamikonos Signature." , said Imran Farooq, CEO of Samana Developers.
The 419,947.25 sq ft B+G+M+8 Samana Mykonos Signature project will have 276 units and will be delivered in October 2025. The development features a range of amenities - infinity pool, leisure pool deck, swimming pool, children's pool, private pool, green areas, health club, Jacuzzi, steam room, children's play area, outdoor cinema, BBQ area, valet parking and 27/4 security.
To add value for investors, Samana developers have introduced new income-generating facilities for their homebuyers. Under Samana Holidays, buyers can convert their flats into holiday homes at any time and sublet them to tourists and visitors. Converting to serviced flats for sub-letting benefits both parties - the homeowner gets extra income; the visitor tenant saves on excessive hotel costs, especially during the peak tourist season.
For example, if a unit is a holiday home or AirBnB model, the owner can earn between 8% and 13% of the RoI. in addition, the owner receives an additional 8% of the annual rental income from the developer. This is a double benefit for investors. Samana Developers' projects are designed to follow this model for the maximum benefit of investors.
Samana Mykonos Signature consists of 276 flats, including studios, one-bedrooms with pools, one-bedrooms with pools and two-bedrooms with pools. Prices for flats start from Dhs624,000 (US$169,913).
The five-year payment is 15% at the time of booking and then only 1% over 60 months, making it a flexible and viable option for those looking to move from a rental flat to home ownership in Dubai. The project is scheduled for delivery in October 2025.
"At Samana Mykonos Signature, we have created an island lifestyle with plenty of retail areas that residents can use to entertain their guests. It encourages a community lifestyle and foolproof security. With plenty of retail facilities right on the ground floor, end users don't need to get out of the building to shop for goods and services. It saves time and effort." , Imran Farooq added.
