Business | Property
GGICO sells three-quarters of units in Axis Residence project's third phase
Gulf General Investment Co. (GGICO), one of Dubai's leading diversified companies, has sold 75 per cent of all units available in the third phase of its Axis Residence project, located in Dubai Silicon Oasis.
- Staff Report
- Published: 23:20 November 7, 2008
Dubai: Gulf General Investment Co. (GGICO), one of Dubai's leading diversified companies, has sold 75 per cent of all units available in the third phase of its Axis Residence project, located in Dubai Silicon Oasis, within the first few days of its launch.
The company said that the special financing solutions they have developed had greatly increased the attractiveness of the opportunity now that installments could be made over a 100 month period, with a down payment of just three per cent.
This brings it very much into the range of most people living in the UAE, especially those in the medium and low income brackets.
"Our aim as a company is to inspire confidence in our products and make them accessible to our customers. This is especially the case at a time when many other financial institutions are refusing to extend credit as a consequence of the global credit crunch," said Simon Philip, General Manager of GGICO
"It is therefore especially pleasing to see that the steps we have taken to make our financial solutions readily accessible are finding an enthusiastic audience," he said.
The Axis Residence project was launched in 2007 and has attracted a large number of investors because of its attractive location in Dubai Silicon Oasis, and its high construction quality.
The third phase of the Axis Residence project consists of eight towers covering 1.3 million square feet, with a total value of Dh1.2 billion.
The towers are disting-uished by their size, luxurious qualities and the competitive nature of their pricing policy.
The units vary in size from one to three bedrooms with residents enjoying the added benefit of a fitness centre and swimming pool.
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