From dominating Dubai’s skyline to expanding across oceans, Imran Farooq reveals how Samana Developers is capitalizing on global uncertainty, soaring demand, and a bold vision to reshape the region’s real estate future.
In the whirlwind world of Dubai real estate, where ambition meets skyline at breakneck speed, few have carved out a reputation quite like Imran Farooq, CEO of Samana Developers. Under his leadership, the company has transformed into one of the fastest-growing developers in the region, boasting a staggering 229% compound annual growth rate over the past five years.
From headline-grabbing billboards to high-octane launches that sell out in 48 hours, Samana is a name that’s hard to ignore. And Farooq makes no apologies for the boldness. In an exclusive interview, he breaks down why Dubai continues to draw the world’s elite, why off-plan properties are booming, and how his company is future-proofing its empire — from contracting to community-building.
Dubai’s Real Estate Runway: Why the Boom Isn’t Over
Asked whether the real estate market is stabilizing, Farooq is direct: “Things are going great guns — there’s zero doubt about that.”
While global markets sputter under geopolitical and economic pressure, Dubai is emerging as a magnet for global capital. “Governments in the West are pushing millionaires and billionaires away with harsh tax policies,” he says, noting that Dubai has benefited from a massive influx of high-net-worth individuals, particularly from the UK, France, and now even the US.
“Dubai is now seen as a global safe haven — not just for the wealthy, but for everyone,” he adds. The emirate’s swift introduction of the remote work and golden visa schemes — now accessible with just 20% down on an off-plan property — has made it easier than ever to relocate, invest, and build a life in Dubai.
Inside Samana’s Off-Plan Dominance
Samana has positioned itself squarely in the off-plan segment, and according to Farooq, demand is stronger than ever.
“We sell in more than 55 countries. At every launch, the dominant nationality changes — it’s about who gets there first,” he explains. Nearly 85% of Samana units sell out within 48 hours of being announced. “That tells you demand is far outpacing supply.”
Even with more launches, Farooq sees no sign of oversupply. “Population growth is outpacing delivery. Rents are still rising. Offices are full. Even DEWA’s electricity and water usage is up 13%. That’s real demand.”
Why “7th Largest Developer” Was a Strategic Statement
Perhaps the boldest — and most talked-about — move was the company’s massive billboard campaign declaring Samana the “7th Largest Developer” in Dubai.
“Everyone claims to be number one,” Farooq smiles, “but we wanted to tell the truth.” The ranking is based on official data from Dubai’s Land Department via Property Monitor, reflecting a 4.4% market share by units sold — a remarkable feat given that just 13–14 developers control 91% of the market.
“We’re proud to be independent and still rank this high. We don’t have government backing or vast land reserves. It’s a real achievement,” he says, noting that Samana is already trending towards 5th place this year.
Diversifying Across Real Estate Verticals
Samana isn’t just betting on residential. In 2024, the company launched its first commercial office tower, Samana Barari Avenue, as part of a strategic shift into new real estate sectors.
“Office space is the best-performing asset right now,” says Farooq. “In Bay Square, rents have tripled since 2020.” With a post-pandemic shortage of new office buildings, demand for Grade A+ spaces with luxury amenities is soaring.
The company’s diversification continues with retail, hotels, warehouses, and even labour accommodations. “Our goal is to operate across all real estate verticals. That’s the future.”
Going Global: A Maldivian Dream
Samana has also gone international, with a luxury development in the Maldives in partnership with Elie Saab. The fully self-sustaining island offers five-star villas under 99-year leases, complete with electricity, water, a hospital, mosque, and more.
“Owners can rent them for up to $2,000 per night, or use them personally,” explains Farooq. “It’s managed through an app — switch between hotel or private use with one click.”
He adds that the Maldivian government is preparing a golden visa scheme for property investments above $500,000, a move likely to draw further international interest.
The Next Big Move: Owning the Supply Chain
To support this rapid growth, Samana has invested Dhs150 million into establishing its own contracting company, ensuring better control over quality, timelines, and costs.
“Selling is easy right now,” Farooq says, “but building will get harder. That’s why owning the value chain is critical.”
And that’s not all. By the end of 2025, Samana plans to unveil its own master-planned community — a major milestone in the company’s end-to-end development strategy.
A Vision Built to Last
Farooq’s clear-eyed leadership, international perspective, and relentless ambition have helped Samana rise to the top — not just in Dubai, but now, across borders.
As geopolitical tensions drive more wealth eastward, and as Dubai cements its place as a global hub for living, investing, and working, companies like Samana — and leaders like Imran Farooq — are perfectly positioned to shape the city’s next chapter.
“Dubai is just getting started,” Farooq says. “And so are we.”
