Dubai-based Samana Developers announced on Thursday that the construction of Samana Hills residential project in Arjan in Dubailand is 65 percent complete.
The company said in a statement that the project's superstructure was completed 70 days ago despite the pandemic hardships.
Spanning an area of 100,000 square feet, Samana Hills features 205 apartment units.
Imran Farooq, Chief Executive Officer of Samana Developers said the company remains upbeat on Dubai's real estate market.
"New economic reforms, such as the 100% ownership of the business in mainland Dubai, will lead Dubai to achieve a V-shaped market recovery," he said.
Dubai Real Estate Regulatory Agency (RERA)'s Independent Statement of Construction Progress Report has recorded that construction works of Samana Hills project are substantially completed with excavation, shoring, foundation, block, plaster and structural works at advanced stages.
(Writing by Syed Ameen Kader; Editing by Anoop Menon)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2020