Samana CEO Imran Farooq on Dubai’s Off-Plan Boom, Investor Confidence, and Building a Real Estate Empire
Imran Farooq reveals how Samana Developers is thriving in Dubai’s dynamic off-plan market, attracting global investors, and scaling with bold strategy and full value chain control
Subtitle: From record-breaking growth to mastering the entire value chain, Imran Farooq shares how Samana Developers is scaling new heights in Dubai and beyond amid global shifts and surging demand
In the ever-evolving landscape of Dubai real estate, Imran Farooq, CEO of Samana Developers, has carved out a distinct identity — one built not just on bold billboards, but on exponential growth, off-plan dominance, and strategic diversification. With a staggering 229% compound annual growth rate over the past five years, Farooq is steering Samana into the top tier of one of the world’s most competitive markets.
Speaking in an exclusive interview, Farooq sheds light on why Dubai remains a magnet for global wealth amid geopolitical upheaval, what’s fueling the off-plan frenzy, and how Samana is future-proofing itself by taking full control of the construction supply chain.
A Global Wealth Magnet
Farooq attributes Dubai’s continuing boom to a confluence of international uncertainty and local vision. “Dubai is becoming more and more popular,” he says. “Look at what’s happening in the West, particularly in the UK and France — harsh tax policies and global taxation debates are driving high-net-worth individuals away.”
Dubai’s proactive policies, including the remote work visa and the reduced Dhs2 million threshold for golden visas, have significantly boosted the emirate’s appeal. “Conflicts like the Russia-Ukraine war brought both Ukrainians and Russians here. Many felt mistreated in the West and sought refuge. Dubai is now seen as a global safe haven,” he adds.
Off-Plan Demand: A Race Against Time
Samana’s bread and butter remains the off-plan market, which Farooq describes as “red hot.” “85% of our units typically sell out within 48 hours of launch,” he reveals. “It’s not about who’s buying the most — it’s about who gets there first.”
The buyer pool is incredibly diverse. Samana promotes projects in over 55 countries, with 70% of sales coming from just 20 of them. Each launch attracts a different dominant nationality — from Indians and French to Emiratis — showcasing the truly global appetite for Dubai property.
Despite rapid development, Farooq doesn’t see supply catching up with demand. “Population is growing at 12–13% annually. Even if every project is delivered on time, there’d still be a shortage.” Rising rents, bustling streets, and high utility usage confirm the city’s upward momentum, he says.
Owning the 7th Spot — With Pride
One of the most talked-about elements of Samana’s branding is a striking billboard declaring it the ‘7th largest developer’ in Dubai — an unusual show of confidence in a city where many claim the number one spot.
“It’s based on official Land Department data from Property Monitor,” Farooq explains. “We hold a 4.4% market share, which is significant when you consider how competitive the market is. We’re proud to be independently ranked among government-backed giants like Emaar, Meraas, and Nakheel.”
And the trajectory continues. “This year, we expect to be 6th, and currently we’re actually 5th. But we’re comfortable in that 6–7 range.”
Diversifying Across Real Estate Verticals
Samana is now evolving beyond residential into commercial offices, retail, hotels, warehouses, and labour accommodation. “Office space has been the best-performing asset in the last 12 months,” Farooq says. “Rents in places like Bay Square have tripled since 2020.”
Samana’s Barari Avenue office project reflects new trends: resort-style amenities, fitness centres, and vibrant retail spaces. “There was a supply gap in Grade A+ offices post-2008. We’re filling it.”
Going International — and Sustainable
In a bold move, Samana has also entered the Maldives market with a five-star resort project in partnership with fashion icon Elie Saab. “We manage the entire island — it’s fully self-sustaining with its own hospital, mosque, and fire brigade,” he says. Villas, offered under 99-year leaseholds, can fetch up to $2,000 per night and are equipped with smart management features for rental or personal use.
“The Maldives government is now finalising a golden visa program for investments from $500,000 and up, which will boost international interest.”
Full Value Chain Control and a New Master Plan
To safeguard against rising construction challenges, Samana has invested Dhs150 million into its own in-house contracting company. “We can now control our own quality, delivery speed, and consistency,” Farooq says. “We’re no longer reliant on third parties.”
What’s next? “We’ll soon announce our first master-planned community — I can’t share the location just yet, but it aligns with our long-term strategy of end-to-end development.”
As Dubai continues its real estate renaissance, Imran Farooq’s clear-eyed strategy, international vision, and refusal to play by convention make Samana Developers a key player to watch — one that’s not chasing the top spot, but quietly building a real estate empire with lasting foundations.
