Hassan Afzal Khan (center) attends the agreement signing ceremony in Dubai.
Gulf Today, journalist
Dubai-based Samana Developers on Thursday in Dubai entered into a key partnership with H&S Real Estate to enter Pakistan’s booming real estate market.
The partnership launched “Emirates Developers”, a new property development company incorporated in Pakistan. Emirates developers will build mixed-use resort-themed communities in tourist hot spots in Pakistan.
Emirates Developers will build a series of projects in Pakistan. The new company will launch its first mega project in a tourist hotspot in Pakistan in January 2022.
The signing ceremony for the agreement took place in the presence of Hassan Afzal Khan, Consul General of Pakistan in Dubai, as well as officials from the Consulate General of Pakistan, Samana Developers and H&S Real Estate.
Afzal Khan said: “It is a proud moment for all of us and for the Pakistani community in Dubai that we are witnessing a double success from Samana Developers and H&S Real Estate which is going to be replicated in Pakistan.
Imran Farooq, CEO of Samana Developers, said: “We come to Pakistan with great ambitions and an optimistic mindset. Despite the weaker currency, the Pakistani real estate market is quite attractive with a projection for year over year growth as we see that Pakistan’s population, which is in need of housing, continues to grow.
“We are not just developing another brick and mortar project, but a lifestyle development with state of the art equipment up to international standards, which we have done in Dubai. I think developers today have to think outside the box to bridge the gap between innovation, lifestyle and construction. This is what we practiced in Dubai with Samana Developers. This gives buyers and end users a good reason to invest in our projects. Our end-user business model has helped to be resilient during the Covid-19 pandemic. During the lockdown we continued to build and didn’t stop which continued the work flow hence the cash flow from buyers to suppliers. “
He added: “We had the choice to choose land for one building but it wouldn’t be a way of life. This is the reason why we have chosen a group of large plots to create a community with the facilities and equipment necessary for a good lifestyle. Everything one needs in a five star hotel will be available in premium Emirates Developers projects in prime locations in Pakistan.
Emad Haq, Vice President of H&S Real Estate, said: “We believe this is a perfect synergy between two real estate experts with international experience – Emirates Developers and H&S Real Estate – who will present a life experience. in Pakistan that will be unmatched. With over 50 years of the group’s combined experience in luxury residential and commercial real estate development, the Emirates Resort project will be a gem in the heart of Islamabad’s beautiful landscaped landscape, close to Murree, Pakistan’s verdant resort town.