Samana launches into the Dubai hotel business with a new entity
Dubai-based Samana Group has launched a new entity that will allow owners and end-users of its Samana Developers real estate unit to rent apartments on a short-term basis, increasing returns for investors.
In its initial phase, Samana Holidays will target 500 units and convert them into vacation homes (serviced apartments) for short-term rentals to allow tourists, visitors, vacationers and stopovers for World Cup fans FIFA, a statement from the company said. .
These units are expected to generate AED 38 million ($10.3 million) in revenue over the next seven months – by Q2 2023. So this is a new benefit for buyers and users. endgames from Samana Developers, he said.
CEO Imran Farooq said, “The complex style designs and features of Samana Developers’ projects are well received by buyers, especially for those planning to rent their units to tourists. Converting units from long term to short term is a perfect proposition for both buyers and tourists.”
“Samana Holidays serviced apartments will significantly reduce the rate per night compared to the rate of hotels in Dubaim,” he added.
As part of its growth strategy, Samana Holidays has signed a long-term contract with Airbnb – an online marketplace for short-term stays.
“Our short-term rental option will increase landlords’ rental income from 8% to 15%, a direct 7% increase in rental returns as soon as their apartment is booked on Airbnb,” Farooq said.
According to him, the documentation process will be simple and can be completed in just 10 minutes.
“Owners must sign a one-time document with Samana Holidays and within the next 5 days their apartments will be transformed into fully furnished units and will be listed on Airbnb, giving tourists a wider variety of choices,” he said. declared.
The company takes care of the rest of the process, such as furnishing, finding clients, finalizing rental agreements, onboarding tenants and maintaining the apartment, he added.
The projects offer an Airbnb-perfect resort lifestyle with leisure terraces, communal swimming pools for adults and children, private swimming pools, special water games, a yoga zone, an open cinema, a juice bar , green spaces, indoor and outdoor gymnasiums, a club health center with hammam and sauna and 24-hour security-TradeArabia Press Service