Thu 18 Jul 2024
Ginco Properties has announced the launch of One Residence, a luxurious new project in Downtown Dubai valued at AED 1.2 billion ($327 million). This development comes as Downtown Dubai’s real estate market shows impressive growth, with a 133% increase in property transactions and a 41% rise in rents in recent years.
Designed by renowned architect Brad Wilkins, who has contributed to iconic structures like the Pearl River Tower in China and Dubai's Burj Khalifa, One Residence is set to become a striking addition to Downtown Dubai’s skyline. The tower will feature luxurious copper panels that create a unique visual appeal as they reflect the sun's rays.
One Residence will house 453 luxury residences across 30 floors, including studios, one-bedroom, and two-bedroom apartments, as well as exclusive penthouses. Each unit is designed to offer panoramic views of the city skyline, providing residents with a breathtaking living experience.
One Broker Group (OBG) has been named the exclusive sales partner for One Residence. OBG has introduced a 50:50 payment plan for the apartments, with prices starting from AED 1.2 million ($327,000). Urban Properties will manage the development of One Residence, which is expected to be completed and handed over in the first quarter of 2027.
Masood Gheyath, Managing Director of Ginco Properties, emphasized the company's commitment to contributing to Dubai’s real estate landscape by delivering iconic projects that align with the city’s growth trajectory.
“With One Residence, we aim to elevate Dubai’s global standing as a premier destination for luxury living. By strategically developing residences near landmarks like the Burj Khalifa and Dubai Mall, Ginco Properties not only enhances the city’s skyline but also enriches its urban fabric,” he said.
The amenities at One Residence are designed to provide a luxurious lifestyle, featuring a gym, yoga studio, multiple pools including an infinity pool for adults, a Zen garden, an entertainment room, a movie theatre, a music room, a golf simulator, barbecue pits, a residents’ lounge, a kids’ club, a play area, a trampoline park, a picnic area, 24/7 valet service, a chef on-demand, and laundry services on-demand.
This project highlights Ginco Properties' dedication to creating sustainable and innovative spaces that cater to the evolving needs of residents and investors, supporting Dubai’s vision of continued growth and prosperity in the real estate sector.