UAE group Samana announces big China expansion
UAE-based Samana Group, a major player in the real estate and property brokerage sectors, is targeting the much-needed inbound investments to the UAE while Dubai seeks to become the leading Middle Eastern partner for China’s Belt and Road Initiative.
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UAE-based Samana Group is targeting the much-needed inbound investments to the UAE while Dubai seeks to become the leading Middle Eastern partner for China’s Belt and Road Initiative.
Following the company’s plans to capitalise on Expo 2020 Dubai, Samana has developed high-yielding investment opportunities in the real estate, ready-to-operate business centers and citizenship by investment sectors for Chinese investors and companies who will make the UAE their Middle East headquarters.
Ahead of its investment roadshow in China, Samana Group today (October 30) announced that its strategic expansion plan is to establish a base in China so that they have direct access to the local markets and investors, a two-way investment approach - starting from the China’s business hubs of Beijing, Shanghai and Guangzhou.
According to Samana, China has an increased number of wealthy people who are looking for established and reputed UAE companies for collaboration.
Samana’s China move is also triggered by a recent digital wealth management platform by Yiren Wealth, which says the total amount of individual wealth in China exceeded 146 trillion Yuan ($21 trillion) last year, said a top official.
"Today is a milestone step in the history of the Samana Group as we are going to establish our footprint in the Chinese markets," remarked its General Manager Alan James Gammon.
"Seeing the bolstering trade ties between China and UAE, we think it is the right time to showcase Dubai’s business competitiveness as among world’s top destinations. Overseas investment offers China an opportunity to not just boost its own economy, but also leverage its economic strength abroad, he stated.
Group CEO Imran Farooq said: "With less than a year from the opening of mega Expo 2020 Dubai, the countdown has begun to one of the most important events in the UAE’s history and the Middle East as it takes centrestage in promoting people, technology, cultural awareness and acceptance across the world."
"To capitalise on the Expo 2020 opportunity, we will be launching 3 new real estate projects between now and the first quarter of 2020 and welcome our Chinese partners to invest in them," stated Farooq.
In UAE, the group's property unit Samana Developers has 3 residential projects worth Dh700 million, 200+ serviced offices branded as Star Business Centers that offer hitech working spaces to the MNCs and SMEs, he added.-TradeArabia News Service
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