Construction activities have been progressing in full-swing at Dubai-based Samana Developers’ projects, despite the challenging circumstances surrounding the global outbreak of the coronavirus (COVID-19) pandemic.
The developer said that its on-going projects in Dubai have not been affected by the pandemic mainly because its properties are not distributed among bulk buyers, but individuals.
Additionally, the UAE government’s decision to allow construction activities as normal has also played its part.
Samana Developers’ projects are self-funded, and the in-house funding boosts buyer-confidence and they are assured that investments are 100% safe and with higher returns.
Mortgage complications followed by economic recession makes bank-mortgaged properties vulnerable. That is not the case with Samana Developers, since the developer does not rely on bank borrowings.
Speaking about its project delivery timeline, CEO of Samana Developers, Imran Farooq, said: “We sat with our customers, brokers and other stakeholders and mitigated the fear related to the current situation. Our close interaction with them has started bearing results and we are regularly receiving monthly installments.
“That is further moving the projects for on-time delivery. Therefore, our buyers will be among the first beneficiaries when the pandemic is over in two to three months.”
He added: “UAE Government’s efficient management of the outbreak is ensuring the smooth flow of site works across the country, which reinforces our commitment of on-schedule delivery of our first project – Samana Greens.
The developer’s Samana Greens is “currently in the finishing stage”, with the handout letter being planned to be delivered in weeks.
According to the developer, additional health and safety precautionary measures related to COVID-19, such as mandatory social distancing between workers, daily on-site body temperature measurement, and use of Personal Protective Equipment (PPE) relatively slowed the construction speed by 15% in the month of April.
However, the developer was able to manage the construction activities with extra shifts. The contractors at the developer’s projects have been complying with the COVID-19 SOPs issued by the local authorities and the workflow has resumed the speed as per the pre-pandemic period.
Construction works on the developer’s second residential project, Samana Hills, valued at $27.2m (AED100m) was also on track. Work on the project commenced in November 2019, with the five-storey project scheduled to be delivered in Q4 2021.
The developer, which owns assets valued at $190.6m (AED700m), plans to launch a series of international projects, in London and Portugal, later in 2020.
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