Samana Developers Prepares for 2026 IPO Launch

Samana Developers Plans 20% Stake IPO by End of 2026

The real estate market in the United Arab Emirates has witnessed remarkable growth over the past few years, particularly in the city of Dubai. The influx of expatriates, active participation of affluent international investors, and strategic developments have all contributed to the market's vibrancy. Playing a significant role in this dynamism is Samana Developers, which currently holds approximately a 4% share in the Dubai real estate market. The company has now reached a new milestone: it announced plans to go public by the end of 2026, offering 20% of its shares through an initial public offering (IPO).

Preparing for Listing: First Step - Sukuk

Going public is not an overnight process, especially in markets as large and significant as Dubai. Recognizing this, Samana Developers is preparing thoroughly for the process. The first step is a $300 million (approximately 1.1 billion dirhams) Islamic bond issuance, known as Sukuk, planned for the end of the first quarter of 2026. This amount will primarily be used to expand the company’s land bank in Dubai.

The Sukuk issuance is backed by significant financial institutions, with Standard Chartered, Dubai Islamic Bank, and Emirates NBD all playing roles as lead banks in conducting the transaction. This indicates that Samana’s goal is not merely short-term capital raising but also laying the foundation for a long-term, sustainable growth strategy.

IPO on the Dubai Financial Market

According to plans, the initial public offering (IPO) will take place by the end of 2026, and Samana Developers’ shares will appear on the Dubai Financial Market (DFM) platform. The goal is to sell a 20% ownership stake in the company. Although the final valuation is not yet completed, the preliminary target value is 20 billion dirhams, reflecting the company’s dynamic growth and its role in the Dubai real estate market.

Strategic Advantage: Market Timing and Investor Confidence

The Dubai real estate market has been expanding continuously over the past five years. In the post-pandemic period, increasing demand, investor activity, and rising prices have all created a favorable environment for developers. In some communities, real estate prices have more than doubled since 2020. Samana Developers is one of the winners of this period, making the step towards a public presence a natural continuation.

Another important factor is the generally strong IPO activity in the region. According to EY MENA IPO Eye's third-quarter 2025 report, currently, 19 companies and investment funds are preparing to go public across various sectors in the region. This trend strengthens Samana's decision and confirms that the company is not entering the market as an isolated player but as part of a broader, active capital market environment.

Next Steps: Credit Rating and Advisory

One of the crucial steps before going public is obtaining an independent credit rating. The company has already commissioned a globally recognized credit rating agency, which is expected to publish its assessment within 6–8 weeks. This not only supports the success of the Sukuk issuance but also prepares the ground for the stock market listing. At the end of the process, an advisory bank will assist with the final steps of conducting the IPO.

Why is This Interesting to Investors?

Samana Developers' position is unique, being one of the largest players in the Dubai market among private developers. The company's projects include community residential parks, premium apartment complexes, and innovative new real estate developments—all in a continuously evolving, globally attractive market.

The capital raised from the IPO could enable not only the expansion of the land bank but also the launch of new projects, faster completion of existing projects, and potentially foreign expansion. A well-prepared IPO, especially in a stable and growing market, can present an attractive opportunity for both institutional and private investors.

Closing Thoughts

Samana Developers' move fits well into the developmental trends of the Dubai and generally the UAE real estate and financial markets. Both the Sukuk issuance and the 2026 IPO demonstrate that the company is not only responding to market opportunities but also actively shaping them.

The Dubai stock exchange, the DFM, is becoming an increasingly attractive target for investors seeking stability, growth potential, and a regulated environment. Samana Developers’ public entry will undoubtedly be an attention-grabbing event and could even serve as a guide for other developers looking to transition from the private sector to the capital market.

If the company follows through consistently with its plans and successfully continues to build its reputation in quality development and financial transparency, it could not only remain a significant player in the Dubai real estate market but also write one of the region’s most successful IPO stories.

(Source of the article: Based on the announcement from Dubai Samana Developers.)