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Dubai-based Samana Developers on Tuesday formally launched 300 million UAE dirhams ($81.74 million) Samana Mykonos Signature, a mid-luxury residential project, in Arjan master development.
The “superyacht-style” development is the third project out of 12 planned for 2023. the developer said in a press statement.
The launch follows the 100 percent sold-out of Samana Mykonos project in Dubai Studio City.
The eight-storey project, spanning over 419,947.25 sq ft, will have 276 units, and the handover process will begin in October 2025, the statement said.
It said the design and name of the new project have been derived from the iconic Mykonos Island, a popular tourist resort in Greece, the statement.
“We believe today’s buyer is intelligent and has loads of options available to choose from. That is why we bring something new, sustainable, environmentally friendly, yet affordable. We are now replicating, rather, launching an enhanced version of our Mykonos project,” said Imran Farooq, CEO of Samana Developers.
“In Samana Mykonos Signature, we have created an Island lifestyle with plenty of retail areas,” he added.
The statement said the buyers would be offered the option to convert their apartments into holiday homes and sub-lease to tourists and visitors with an 8 percent yearly return on investment from the developer.
(Writing by P Deol; Editing by Anoop Menon)
