Sama Dubai
Encyclopedia
Sama Dubai is a member company and subsidiary of Dubai Holding
, a holding company
set up by the government of Dubai. Sama Dubai was created as a company with wider responsibility and mandate than its previous predecessor (Dubai International Properties). Sama Dubai is practically the international property arm of Dubai Holding. It develop real estates and properties in numerous countries, globally. It was announced in the summer of 2009 that Sama Dubai would be merged into Emaar, along with Dubai Properties and Tatweer.
Much of this portfolio is now thought to be on hold.
Other disputes relate to Sama Dubai's blocking of transactions, pending irregular payments and statements from the company that it is not bound by investor protection laws, such as the Escrow law.
Dubai Holding
Dubai Holding is a holding company that belongs to the Government of Dubai . It manages and controls 20 companies, which operate in real estate, hospitality, finance, healthcare, energy, research, education, entertainment, media, internet, tourism and biotechnology...
, a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
set up by the government of Dubai. Sama Dubai was created as a company with wider responsibility and mandate than its previous predecessor (Dubai International Properties). Sama Dubai is practically the international property arm of Dubai Holding. It develop real estates and properties in numerous countries, globally. It was announced in the summer of 2009 that Sama Dubai would be merged into Emaar, along with Dubai Properties and Tatweer.
Portfolio
Sama Dubai develop real estate and property megaprojects in various countries. However, most of these projects have been suspended indefinitely. These originally included projects such as:- Dubai TowersDubai TowersDubai Towers can refer to:*Dubai Towers Doha, a skyscraper in Doha, Qatar currently under construction*Dubai Towers Dubai, a proposed four skyscraper complex located in The Lagoons in Dubai, United Arab Emirates...
- A series of supertall, mixed-use skyscrapers being developed in three countries that will contain residential, business, office and entertainment sections.- Dubai Towers Casablanca in CasablancaCasablancaCasablanca is a city in western Morocco, located on the Atlantic Ocean. It is the capital of the Grand Casablanca region.Casablanca is Morocco's largest city as well as its chief port. It is also the biggest city in the Maghreb. The 2004 census recorded a population of 2,949,805 in the prefecture...
, MoroccoMoroccoMorocco , officially the Kingdom of Morocco , is a country located in North Africa. It has a population of more than 32 million and an area of 710,850 km², and also primarily administers the disputed region of the Western Sahara... - Dubai Towers DohaDubai Towers - DohaDubai Towers - Doha is a super-tall skyscraper with a roof height of under construction in Doha, Qatar. The estimated cost of Dubai Towers - Doha is 2.3 billion Qatari Riyal...
in DohaDohaDoha is the capital city of the state of Qatar. Located on the Persian Gulf, it had a population of 998,651 in 2008, and is also one of the municipalities of Qatar...
, QatarQatarQatar , also known as the State of Qatar or locally Dawlat Qaṭar, is a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of the much larger Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its... - Dubai Towers IstanbulDubai Towers IstanbulDubai Towers Istanbul was a skyscraper project that was to be built in the district of Levent, in Istanbul, Turkey.It comprised a twin-tower complex which was to contain extensive office space, residential apartments and penthouses, retail outlets and boutique hotels. Had it been completed, the...
in IstanbulIstanbulIstanbul , historically known as Byzantium and Constantinople , is the largest city of Turkey. Istanbul metropolitan province had 13.26 million people living in it as of December, 2010, which is 18% of Turkey's population and the 3rd largest metropolitan area in Europe after London and...
, TurkeyTurkeyTurkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
- this project has been cancelled - Dubai Towers DubaiDubai Towers DubaiDubai Towers Dubai is a four tower complex to be built in the city of Dubai, United Arab Emirates. The developer, Sama Dubai, intends this to form the centrepiece of The Lagoons, a megaproject located on Dubai Creek which will consist of seven islands...
in Dubai, UAE - this project has been suspended indefinitely
- Dubai Towers Casablanca in Casablanca
- Salam Resort & Spa - A new resort & spa hospitality chain launched by Sama Dubai.
- Salam Yiti - in Yiti, OmanOmanOman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the...
. A AEDUnited Arab Emirates dirhamThe dirham is the currency of the United Arab Emirates. The ISO 4217 code for the United Arab Emirates dirham is AED. Unofficial abbreviations include DH or Dhs. The dirham is subdivided into 100 ....
3 billion project consisting of 2.6 million square meter resort with 18-hole golf courseGolf courseA golf course comprises a series of holes, each consisting of a teeing ground, fairway, rough and other hazards, and a green with a flagstick and cup, all designed for the game of golf. A standard round of golf consists of playing 18 holes, thus most golf courses have this number of holes...
, luxury hotel, marinaMarinaA marina is a dock or basin with moorings and supplies for yachts and small boats.A marina differs from a port in that a marina does not handle large passenger ships or cargo from freighters....
and eco centre. - Salam Bahrain - in BahrainBahrain' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
- Salam Yiti - in Yiti, Oman
- The LagoonsThe LagoonsThe Lagoons is a real-estate development that is under construction in Dubai, United Arab Emirates and is situated along Dubai Creek, near Ras Al Khor Road.-Purpose:...
- A luxurious real estate development in Dubai's Dubai CreekDubai CreekDubai Creek or Khor Dubai is a saltwater creek located in Dubai, United Arab Emirates . It ends at Ras Al Khor Wildlife Sanctuary. Some sources say that the creek extended as far inland as Al Ain, and that the Ancient Greeks called it River Zara. Historically, the creek divided the city into two...
district with retail, residential and business sections. Featuring an Opera HouseOpera houseAn opera house is a theatre building used for opera performances that consists of a stage, an orchestra pit, audience seating, and backstage facilities for costumes and set building...
. The entire project was suspended indefinitely after construction of the show room
- Amwaj - Another real estate development in RabatRabatRabat , is the capital and third largest city of the Kingdom of Morocco with a population of approximately 650,000...
, MoroccoMoroccoMorocco , officially the Kingdom of Morocco , is a country located in North Africa. It has a population of more than 32 million and an area of 710,850 km², and also primarily administers the disputed region of the Western Sahara...
to create a waterfront city in 100 hectares featuring buildings in classical Mediterranean and Moorish architectureMoorish architectureMoorish architecture is the western term used to describe the articulated Berber-Islamic architecture of North Africa and Al-Andalus.-Characteristic elements:...
.
- Century City & Mediterrenean Gate - A huge luxury real estateLuxury real estateLuxury real estate is the real estate market niche targeted at the highest socio-economic group of consumers. -Definition:The characteristics that define luxury real estate differ among countries...
investment on the Lac du Sud of the Tunisian capital TunisTunisTunis is the capital of both the Tunisian Republic and the Tunis Governorate. It is Tunisia's largest city, with a population of 728,453 as of 2004; the greater metropolitan area holds some 2,412,500 inhabitants....
. This project covers an area of 830 hectares and will comprise the construction of an ultra-modern new city with many skyscrapers, hotels, residential complexes, cultural and leisure complexes, a marina and many shopping malls. As for Tunisia, this will be the most important investment and project in its history. The costs for this project are estimated at $14bn. The construction works have already commenced in August 2007, the completion of the project will take about 15 years. The first phase will be ready by 2012. This new city will be home to up to 500.000 people and will create 130.000 new jobs for young Tunisians.
Much of this portfolio is now thought to be on hold.
Legal issues
There have been a number of legal issues arising, predominantly related to Sama Dubai's main project in Dubai. The best known of these is the arrest of four senior members of management, including CEO Abdulsalam Almarri, as part of the clean up of the Dubai property marketOther disputes relate to Sama Dubai's blocking of transactions, pending irregular payments and statements from the company that it is not bound by investor protection laws, such as the Escrow law.