Dubai-based property developer Samana Developers has announced plans to launch an Initial Public Offering (IPO) in late 2026, aiming to offload approximately 20% of its equity. The company’s CEO, Imran Farooq, revealed in an interview with Khaleej Times that the first step in this journey involves raising $300 million (Dh1.1 billion) through a Sukuk issuance by the end of the first quarter of 2026. Standard Chartered, Dubai Islamic Bank, and Emirates NBD have been appointed as lead banks for this financial maneuver. The IPO is expected to be listed on the Dubai Financial Market (DFM), with the company’s valuation projected to approach Dh20 billion. Samana Developers, which currently holds a 4% market share in Dubai’s property sector, has significantly benefited from the post-pandemic real estate boom. The Dubai property market has seen a surge over the past five years, driven by an influx of expatriates and high-net-worth individuals investing heavily in real estate. This has led to a substantial increase in property prices and rents, with some communities experiencing more than a doubling in values since 2020. The UAE’s IPO market has also been vibrant, with 19 companies and funds across various sectors planning to list on regional exchanges, according to the EY Mena IPO Eye Q3 2025 report. Farooq added that a ratings agency has been engaged to issue a report within the next six to eight weeks, which will be crucial for the IPO process. The final advising bank will provide guidance post the successful Sukuk issuance.