$68.1mln Samana Portofino launched in Dubai Production City

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Samana Developers, one of the fastest growing real estate companies, has launched the AED250 million ($68.1 million) ‘Samana Portofino’ residential project in Dubai Production City, a popular freehold community. Samana Portofino is the developer’s 9th project launch out of 12 projects planned for 2023.

The B+G+11-Storey Samana Portofino spans over 2,59,501 sq ft with 226 apartments. The project epitomises comune-style Italian architecture which is a blend of water features, a town lifestyle, luxurious living and private pools in apartments. Samana Developers boats on being the pioneer of the private pool concept in residential projects in Dubai.

‘Portofino’ is the developer’s first project in Dubai Production City to have all units with built-in private pools. Dubai Production City formerly known as The International Media Production Zone (Impz), master developed by Tecom Group, is a mix of residential freehold and commercial freezone areas. The residential freehold offers 100% foreign ownership.

Right speed

Imran Farooq, Chief Executive Officer of Samana Developers, said: “Samana Developers is moving forward with the right speed of developments and in the right areas across Dubai. I thank our investors for their trust in Samana projects which yield better returns for them as compared to current market rates. That is one reason that our projects sell quickly and we move on to the new launch.”

Payment Plan - 8 Years

The apartment prices at Samana Portofino start from AED669,000 ($182,144). It is a total of eight years of payment plan with 1% every month. This much of flexibility of payments makes it easier for buyers, especially for those who are looking to move from a rented apartment to owning a home in Dubai. The project is scheduled for handover in March 2026.

“In return for this trust, Samana is committed to cementing it with new offerings such as helping investors to sublet apartments to tourists and visitors to Dubai, which adds more returns on their investments. For this, we launched Samana Holidays to help units convert to holiday homes. In addition, Samana property assets guarantee competitive 24% returns,” concluded Farooq.