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Dubai-based Samana Developers announced on Monday the launch of Santorini and Mykonos luxury residential projects in Dubai Studio City worth 320 million UAE dirhams ($87.12 million).
The two schemes, reflecting Greek island architecture, are part of the 12 new projects worth AED2.5 billion planned for 2023, the developer said in a press statement.
“Covid-19 outbreak prompted us to go for island designs where people live in a healthy and sustainable environment,” said Imran Farooq, Chief Executive Officer of Samana Developers.
The AED 150 million Samana Santorini, spanning over 193,927 square feet, is a ground plus four residential project. It will house 157 studio, one, two, and three-bedroom apartments with private pools.
The project is scheduled for handover in April 2025.
The AED 170 million Samana Mykonos is a ground plus-five project covering an area of over 197,430 square feet.
The 198-unit project is expected to be handed over in July 2025.
In addition, Samana Developers has introduced a new income-generating facility for its homebuyers by converting their apartments into holiday homes.
“The facility benefits both sides – homeowners make an additional income, and tourists save on extravagant hotel charges,” Farooq stated.
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(Writing by D Madhura; Editing by Anoop Menon)