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{{multiple issues|
{{multiple issues|
{{notability|Companies|date=February 2016}}
{{original research|date=February 2016}}
{{original research|date=February 2016}}
{{refimprove|date=February 2016}}
{{more citations needed|date=February 2016}}
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{{Infobox company
{{Infobox company
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|key_people = Farhan Faraidooni (Executive Chairman)
|key_people = Farhan Faraidooni (Executive Chairman)
|area_served = [[MENA]] (currently)
|area_served = [[MENA]] (currently)
|industry = [[Real Estate]], [[Hospitality]]
|industry = [[Real estate]], [[hospitality]]
}}
}}


'''Sama Dubai''' ({{langx|ar|سما دبي}}) was an Emirati real estate company noted for its legal troubles, including [[arrest]]s of senior management, during its brief existence.
⚫
'''Sama Dubai''' ({{lang-ar|سما دبي}}) 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).<ref>[http://www.ameinfo.com/82704.html/ Dubai Holding establishes new corporate entity, Sama Dubai], [[AMEInfo]], 2006-04-11.</ref> 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 Properties]], along with Dubai Properties and Tatweer.<ref>{{cite web|url=http://www.dubaichronicle.com/business/property/four-local-real-estate-companies-to-merge-11381|title=Emaar, Dubai Properties, Sama Dubai and Tatweer to merge|author=Editor|publisher=}}</ref><ref>http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090829/BUSINESS/708299956/1051/rss</ref><ref>http://www.encyclopedia.com/doc/1A1-D993J3P02.html</ref>

==History==
⚫
Sama Dubai was founded in 2006 as 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 predecessor, Dubai International Properties.<ref>[http://www.ameinfo.com/82704.html/ Dubai Holding establishes new corporate entity, Sama Dubai], [[AMEInfo]], 2006-04-11.</ref> Sama Dubai is practically the international property arm of Dubai Holding. It develop real estates and properties in numerous countries, globally.

⚫
A number of legal issues arose, 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 cleanup of the Dubai property market.<ref>{{cite web|url=http://www.khaleejtimes.com/DisplayArticle08.asp?xfile=/data/theuae/2009/March/theuae_March395.xml&section=theuae---report|title=Top Firm Executives Plead Not Guilty in Bribery Case - Khaleej Times|author=Mary Nammour|publisher=}}</ref>

⚫
Other disputes relate to Sama Dubai's blocking of transactions, pending irregular payments<ref>{{cite news|url=http://www.ft.com/cms/s/0/f16ee850-7f4e-11dd-a3da-000077b07658.html---report|title=Kuwaitis seek Sama Dubai arbitration|work=Financial Times|date=10 September 2008}}</ref> and statements from the company that it is not bound by investor protection laws, such as the escrow law.

It was announced in the summer of 2009 that Sama Dubai would be merged into [[Emaar Properties]], along with Dubai Properties and Tatweer.<ref>{{cite web|url=http://www.dubaichronicle.com/business/property/four-local-real-estate-companies-to-merge-11381|title=Emaar, Dubai Properties, Sama Dubai and Tatweer to merge|publisher=}}</ref>


==Portfolio==
==Portfolio==
Line 24: Line 32:


* '''[[Dubai Towers Dubai|Dubai Towers]]''' - A series of supertall, [[mixed-use]] [[skyscrapers]] being developed in three countries that will contain residential, business, office and entertainment sections.
* '''[[Dubai Towers Dubai|Dubai Towers]]''' - 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 [[Casablanca]], [[Morocco]] - this project has ben suspended indefinitely
** Dubai Towers Casablanca in [[Casablanca]], [[Morocco]] – this project has been suspended indefinitely.
** [[Dubai Towers - Doha|Dubai Towers Doha]] in [[Doha]], [[Qatar]] - this project has been put on hold due to the financial crash in Dubai
** [[Dubai Towers - Doha|Dubai Towers Doha]] in [[Doha]], [[Qatar]] – this project has been put on hold due to the financial crash in Dubai.
** [[Dubai Towers Istanbul]] in [[Istanbul]], [[Turkey]] - this project has been cancelled
** [[Dubai Towers Istanbul]] in [[Istanbul]], [[Turkey]] – this project has been cancelled.
** [[Dubai Towers Dubai]] in Dubai, UAE - this project has been suspended indefinitely in favor of [[The Tower at Dubai Creek Harbour|The Tower]].
** [[Dubai Towers Dubai]] in Dubai, UAE – this project has been suspended indefinitely in favor of [[The Tower at Dubai Creek Harbour|The Tower]].
** Dubai Towers Jeddah in [[Jeddah]], Saudi Arabia - this project has been suspended indefinitely
** Dubai Towers Jeddah in [[Jeddah]], Saudi Arabia - this project has been suspended indefinitely.
* '''Salam Resort & Spa''' - a resort and spa hospitality [[hotel chain|chain]] launched by Sama Dubai.<ref>[http://www.sama-dubai.com/salam/ Salam Resort & Spa] - Official Website.</ref>
* '''Salam Resort & Spa''' – a resort and spa hospitality [[hotel chain|chain]] launched by Sama Dubai<ref>[http://www.sama-dubai.com/salam/ Salam Resort & Spa] - Official Website.</ref>
** Salam Yiti - in [[Yiti]], [[Oman]]. A [[United Arab Emirates dirham|AED]]3 billion project consisting of 2.6 million square meter resort with 18-hole [[golf course]], luxury hotel, [[marina]] and eco centre.<ref>[http://www.sama-dubai.com/news/050606.asp/ Sama Dubai to develop AED3 billion lifestyle resort in Oman], Sama Dubai News Centre, 2005-06-06.</ref>
** Salam Yiti – in [[Yiti]], [[Oman]]; a [[United Arab Emirates dirham|AED]]3 billion project consisting of 2.6 million square meter resort with 18-hole [[golf course]], luxury hotel, [[marina]] and eco-centre<ref>[http://www.sama-dubai.com/news/050606.asp/ Sama Dubai to develop AED3 billion lifestyle resort in Oman], Sama Dubai News Centre, 2005-06-06.</ref>
** Salam Bahrain - in [[Bahrain]]
** Salam Bahrain – in [[Bahrain]]
⚫
* '''Amwaj''' – Another real estate development in [[Rabat]], [[Morocco]] to create a waterfront city in 100 hectares featuring buildings in classical Mediterranean and [[Moorish architecture]]
* '''[[The Lagoons]]''' - A luxurious real estate development in Dubai's [[Dubai Creek]] district with retail, residential and business sections. Featuring an [[Opera House]]. The entire project was suspended indefinitely after construction of the show room <ref>[http://www.lagoons.ae/ The Lagoons Official Website]</ref>
⚫
* '''Century City & Mediterranean Gate''' – A [[luxury real estate]] investment on the Lac du Sud of the [[Tunisia]]n capital [[Tunis]]. This project covers an area of 830 hectares and will comprise the construction of a new city with skyscrapers, hotels, residential complexes, cultural and leisure complexes, a marina and shopping malls. The costs for this project are estimated at $14bn.{{Citation needed|date=April 2023}} The construction works have already commenced in August 2007, the completion of the project will take about 15 years. The first phase was scheduled for completion in 2012.
⚫
* '''Amwaj''' - Another real estate development in [[Rabat]], [[Morocco]] to create a waterfront city in 100 hectares featuring buildings in classical Mediterranean and [[Moorish architecture]].
⚫
* '''Century City & Mediterrenean Gate''' - A [[luxury real estate]] investment on the Lac du Sud of the [[Tunisia]]n capital [[Tunis]]. This project covers an area of 830 hectares and will comprise the construction of a new city with skyscrapers, hotels, residential complexes, cultural and leisure complexes, a marina and shopping malls. 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 was scheduled for completion in 2012.


Much of this portfolio is now thought to be on hold.
Much of this portfolio is now thought to be on hold.
Line 42: Line 49:
The Lagoons Model Pict 2.jpg
The Lagoons Model Pict 2.jpg
</gallery>
</gallery>

==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 cleanup of the Dubai property market<ref>{{cite web|url=http://www.khaleejtimes.com/DisplayArticle08.asp?xfile=/data/theuae/2009/March/theuae_March395.xml&section=theuae---report|title=Top Firm Executives Plead Not Guilty in Bribery Case - Khaleej Times|author=Mary Nammour|publisher=}}</ref>

⚫
Other disputes relate to Sama Dubai's blocking of transactions, pending irregular payments <ref>{{cite web|url=http://www.ft.com/cms/s/0/f16ee850-7f4e-11dd-a3da-000077b07658.html---report|title=Kuwaitis seek Sama Dubai arbitration|work=Financial Times}}</ref> and statements from the company that it is not bound by investor protection laws, such as the Escrow law.


==References==
==References==
Line 52: Line 54:


==External links==
==External links==
* [http://www.sama-dubai.com/ Sama Dubai] - Official Website
* [http://www.sama-dubai.com/ Sama Dubai] - official website


{{DEFAULTSORT:Sama Dubai}}
{{DEFAULTSORT:Sama Dubai}}
[[Category:2006 establishments in the United Arab Emirates]]
[[Category:Emirati companies established in 2006]]
[[Category:Companies established in 2006]]
[[Category:Real estate companies established in 2006]]
[[Category:Companies of the United Arab Emirates]]
[[Category:Real estate companies of the United Arab Emirates]]
[[Category:Property companies of the United Arab Emirates]]
[[Category:2009 mergers and acquisitions]]
[[Category:Media companies of the United Arab Emirates]]
[[Category:Real estate companies disestablished in 2009]]
[[Category:2009 disestablishments in the United Arab Emirates]]

Latest revision as of 19:45, 2 November 2024

Sama Dubai
Company typeSubsidiary
IndustryReal estate, hospitality
FoundedDubai (2006)
Headquarters
Dubai
,
United Arab Emirates
Area served
MENA (currently)
Key people
Farhan Faraidooni (Executive Chairman)

Sama Dubai (Arabic: سما دبي) was an Emirati real estate company noted for its legal troubles, including arrests of senior management, during its brief existence.

History

[edit]

Sama Dubai was founded in 2006 as 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 predecessor, Dubai International Properties.[1] Sama Dubai is practically the international property arm of Dubai Holding. It develop real estates and properties in numerous countries, globally.

A number of legal issues arose, 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 cleanup of the Dubai property market.[2]

Other disputes relate to Sama Dubai's blocking of transactions, pending irregular payments[3] and statements from the company that it is not bound by investor protection laws, such as the escrow law.

It was announced in the summer of 2009 that Sama Dubai would be merged into Emaar Properties, along with Dubai Properties and Tatweer.[4]

Portfolio

[edit]

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:[5]

  • Dubai Towers - A series of supertall, mixed-use skyscrapers being developed in three countries that will contain residential, business, office and entertainment sections.
  • Salam Resort & Spa – a resort and spa hospitality chain launched by Sama Dubai[6]
    • Salam Yiti – in Yiti, Oman; a AED3 billion project consisting of 2.6 million square meter resort with 18-hole golf course, luxury hotel, marina and eco-centre[7]
    • Salam Bahrain – in Bahrain
  • Amwaj – Another real estate development in Rabat, Morocco to create a waterfront city in 100 hectares featuring buildings in classical Mediterranean and Moorish architecture
  • Century City & Mediterranean Gate – A luxury real estate investment on the Lac du Sud of the Tunisian capital Tunis. This project covers an area of 830 hectares and will comprise the construction of a new city with skyscrapers, hotels, residential complexes, cultural and leisure complexes, a marina and shopping malls. The costs for this project are estimated at $14bn.[citation needed] The construction works have already commenced in August 2007, the completion of the project will take about 15 years. The first phase was scheduled for completion in 2012.

Much of this portfolio is now thought to be on hold.

[edit]

References

[edit]
  1. ^ Dubai Holding establishes new corporate entity, Sama Dubai, AMEInfo, 2006-04-11.
  2. ^ Mary Nammour. "Top Firm Executives Plead Not Guilty in Bribery Case - Khaleej Times".
  3. ^ "Kuwaitis seek Sama Dubai arbitration". Financial Times. 10 September 2008.
  4. ^ "Emaar, Dubai Properties, Sama Dubai and Tatweer to merge".
  5. ^ Sama Dubai Portfolio, Sama Dubai Official Website.
  6. ^ Salam Resort & Spa - Official Website.
  7. ^ Sama Dubai to develop AED3 billion lifestyle resort in Oman, Sama Dubai News Centre, 2005-06-06.
[edit]
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