GGICO of the Developer

Developers GGICO of the Developer
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~8 min
01/25/2024
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Introduction

Gulf General Investment Company (GGICO) stands as a prominent figure in the realm of property development in Dubai. Established in 1973, GGICO has played a pivotal role in shaping the city's skyline with its innovative and iconic projects. The company has earned a reputation as a pioneer among investment companies, particularly in the field of real estate.

The freehold division of GGICO has an impressive track record, having successfully delivered some of the most iconic developments in the UAE. Currently, GGICO is actively involved in the development of 21 projects under the design and construction phase. These projects, available for both freehold and rental purposes, contribute significantly to the dynamic growth of Dubai. The total project cost for these endeavors is estimated to be around AED 11 billion, reflecting the company's commitment to quality and excellence in the real estate sector.

History

GGICO has a storied history that traces back to its inception in 1973 when it emerged as a public shareholding company known as Arab Economists Corporation (P.S.C). Initially formed to bolster the development of residential real estate through sales and rentals, the company underwent a significant transformation in 1992. At this juncture, it adopted the name Gulf General Investment Company (P.S.C), a pivotal moment that marked its evolution into a multifaceted enterprise.

In 2001, GGICO took another stride in its journey by relocating its headquarters to Dubai, a strategic move that underscored its commitment to the dynamic business landscape of the region. Throughout its evolution, GGICO has been guided by visionary leaders, including H.E. Abdalla Juma Al Sari and co-founder Dr. Moawiyah S. Al Shunnar. These luminary figures worked in tandem, steering GGICO towards becoming a leading force in the industry.

GGICO's success story is characterized by a prudent expansion strategy, with the public shareholding company overseeing a portfolio of well-established subsidiaries both in the UAE and international markets. The group's influence extends across major growth sectors, with significant projects in industrial, hospitality, and retail domains. This rich history and strategic approach have positioned GGICO as a key player in the business landscape, contributing to its continued success and prominence in the market.

Average Prices for Properties

  1. Horizon Tower Apartments. Apartments in Horizon Tower start from AED 2.7 million, offering a luxurious living experience in a prime location.

  2. Hyati Residence Apartments. Hyati Residence presents an attractive option with apartments starting from AED 1.4 million, combining affordability with modern living.

  3. Topaz Premium Residences. For those seeking a blend of quality and value, apartments for sale in Topaz Premium Residences start from AED 825,000, providing an excellent investment opportunity.

  4. Platinum Residence Apartments. Catering to a diverse market, Platinum Residence offers apartments starting from AED 630,000, making it an accessible choice for individuals looking for quality living at an affordable price.

Key Projects

Horizon Tower

The Horizon Tower, a striking 45-storey residential building situated in the heart of Dubai Marina, stands as an iconic structure offering 156 units. This architectural marvel is designed to provide an exceptional living experience, offering 4-bedroom apartments for both sale and rent. What sets The Horizon Tower apart is its commitment to spaciousness, with only four apartments gracing each floor, ensuring a sense of exclusivity and privacy for its residents.

The distinctive spherical design of the building not only adds to its visual appeal but also provides residents with breathtaking views of Dubai Marina. From this vantage point, occupants can marvel at the dynamic cityscape and the shimmering waters of the marina, creating an unparalleled living environment.

Topaz Premium Residences

Topaz Premium Residences stand as a testament to luxurious and professionally designed living spaces in the vibrant community of Dubai Silicon Oasis. Having a prime location, these apartments provide residents with spectacular views of Dubai's iconic skyline, enhancing the living experience with each passing moment.

Each apartment within Topaz Premium Residences is thoughtfully crafted to include spacious balconies, allowing residents to relish in panoramic views and enjoy the city's dynamic atmosphere. The Italian-designed apartments add a touch of elegance and sophistication to the living spaces, creating an ambiance of comfort and style.

One of the distinctive features of Topaz Residences is the provision of the most spacious 1-bedroom units in Silicon Oasis, catering to those who value both space and functionality in their living environment. The apartments are not only aesthetically pleasing but also come equipped with modern kitchens, ensuring convenience and efficiency for residents.

Crown Residences

Crown Residence stands tall as a G+9 residential tower within the bustling TECOM community, a popular mixed-use hub in Dubai. Comprising a total of 182 units, this mid-rise tower caters to the diverse needs of its residents, providing a collection of independent high-rise apartments in a dynamic urban setting.

The mid-rise tower features a range of bright and spacious apartments designed to meet the modern lifestyle demands of its residents. Conveniently located next to the Dubai Metro TECOM station and Sheikh Zayed Road, Crown Residence ensures easy connectivity to key areas of the city, making daily commutes hassle-free.

As a testament to resident well-being, Crown Residence provides 24-hour security, ensuring a safe and secure living environment. The tower is equipped with a gymnasium and swimming pools, offering opportunities for fitness and recreation within the community. The commitment to maintaining high standards is evident, with the building being well-maintained to ensure the comfort and satisfaction of its residents.

Jade at The Fields

Jade at The Fields, nestled in the heart of Mohammed Bin Rashid Al Maktoum City, emerges as a brand new and enticing development. This residential project offers a selection of 3- and 4-bedroom townhouses, characterized by spacious layouts and contemporary designs that reflect modern living at its finest.

Developed by GGICO, a reputable developer known for crafting well-established communities, Jade at The Fields joins the ranks of other distinguished projects such as the Millenium Estates and Grand Millenium Estates within Mohammed Bin Rashid Al Maktoum City. This track record highlights GGICO's commitment to creating quality living spaces that resonate with residents seeking both comfort and style.

The townhouses in Jade at The Fields are thoughtfully designed to provide spacious interiors, catering to the needs of families and individuals alike. The contemporary aesthetic of the residences adds a touch of sophistication to the development, creating an environment that harmoniously blends elegance and functionality.

Awards

Gulf General Investment Company (GGICO) has garnered recognition and acclaim through various prestigious awards, underscoring its commitment to excellence across different domains. Among the accolades received by GGICO, one noteworthy example is the accolade it received at the 2015 Transform Awards MENA for "Best Brand Experience," earning a Silver distinction.

The Transform Awards MENA serve as a platform to celebrate and honor outstanding achievements in brand development and strategy across the Middle East and North Africa region. GGICO's achievement in securing the Silver award for Best Brand Experience in 2015 reflects the company's dedication to creating a distinctive and impactful brand presence.

Conclusion

Gulf General Investment Company (GGICO) stands as a prominent and multifaceted entity, recognized for its contributions to various sectors, including real estate, industrial projects, and hospitality. With a history dating back to its establishment in 1973, GGICO has played a key role in shaping Dubai's landscape. The company's diverse portfolio, commitment to excellence, and notable achievements, such as the recognition received at the Transform Awards MENA, underscore its position as a dynamic and influential player in the business and investment arena. As GGICO continues to evolve, it remains poised for further growth and success in the ever-changing landscape of the Gulf region.

FAQ

  • 1.

    When was GGICO established?

    GGICO was established in 1973. Its history involves a transformation from Arab Economists Corporation to Gulf General Investment Company in 1992, with a significant relocation of its headquarters to Dubai in 2001.

  • 2.

    What are GGICO's real estate developments?

    GGICO has been a pioneer in real estate development, delivering iconic projects in Dubai. Notable developments include Horizon Tower Apartments, Hyati Residence, Topaz Premium Residences, and more.

  • 3.

    What distinguishes GGICO's industrial projects?

    GGICO has a diverse portfolio of industrial projects contributing to economic growth. Specific details may vary, but GGICO has a proven track record in this sector.

  • 4.

    Does GGICO operate in hospitality and retail sectors?

    GGICO is actively engaged in hospitality and retail ventures, offering a range of services and contributing to the vibrancy of Dubai's business landscape.

  • 5.

    Are there specific awards or recognitions that GGICO has received?

    GGICO has received accolades such as the 2015 Transform Awards MENA for Best Brand Experience - Silver, reflecting its commitment to branding and excellence.

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Creation date:
Update date: 02/20/2024